The San Antonio International Airport is set to benefit from a $25 million redevelopment plan. A real estate firm from Colorado will carry out the project which will update the Hawker Beechcraft Services' aircraft maintenance area of the airport. The facility, which has been closed since 2012, is located off John Cape Road.
According to the San Antonio Aviation Director, the project will benefit the entire San Antonio area in addition to the airport itself by bringing a boost to the local economy.
The site will include seven hangers, which Western has set aside for corporate clients. Some of the hangers are over 15,000 square feet in size with offices next door to them. The project is set to begin this fall and completion is expected within 12 months' time.
The San Antonio International Airport boasted 933,000 passengers in the month of July, representing a 9.9 percent passenger growth compared to the same month last year. From January until now, a total of 5.5 million passengers have gone through the San Antonio airport.
Carrying out a large real estate construction or refurbishment project is never an easy undertaking. It can require tremendous and painstaking planning on the part of architects, construction engineers, contractors and other professionals. It will also require the work of real estate lawyers to ensure that all contracts are drafted and organized appropriately.
If you are currently negotiating an important commercial real estate construction project, make sure you fully understand your legal rights and that you protect them during every phase of the project -- from drafting the contract, to building and even in the years after the project has been completed.