Larsen Properties
Larsen Properties Newsletter

November 2016

Local Business News
SA apartment rents trending upward in face of national drop

The fall weather has put a chill on rental rates across the country, but in San Antonio, its as sunny and warm as ever.

Compared to this time last year, the average apartment rent in the city has climbed by 6.1 percent, despite flatlines or drops among half of all the rental markets surveyed in  Zumper's recent National Rent Report.

The report, which analyzed 100 markets across the United States, found its national rent index dropped for the third straight month, with one-bedroom units dipping 0.9 percent to a median of $1,126, and two-bedroom units down by 0.5 percent to $1,344.

While San Antonio's median rental rates are lower than the national average, the local market has steadily posted increases throughout the year. One-bedroom rates increased to $870 per month, and two-bedroom rates ticked up 6.7 percent to $1,110.


Walter Robb to step down as co-CEO of Whole Foods

John Mackey will be the sole CEO going forward for  Whole Foods Market Inc., the Austin-based grocery chain that he founded. The shift comes as the early pioneer in the organic and natural foods sector has battled increased competition.

Walter Robb is stepping down as co-CEO on Dec. 31. He will remain on the board of directors and continue to serve as chairman of the Whole Kids Foundation and Whole Cities Foundation,  according to a Wednesday announcement. Robb has worked at Whole Foods (Nasdaq: WFM) for a quarter century, including six years as co-chief executive, as the company opened hundreds of locations across the country.

Feds pumping more money into San Antonio's Promise Zone redevelopment effort

San Antonio will receive a significant infusion of cash in support of its federal Promise Zone - a comprehensive redevelopment and reinvestment initiative local stakeholders hope will help transform the city's long under-served East Side.

San Antonio's Promise Zone will receive a total of $1.5 million. The  U.S. Department of Commerce is investing $14.4 million in several Promise Zone projects in an effort to boost economic activity in high-poverty areas across the nation.    Read More 


Visitors dumping big bucks in Alamo City; far more coming here for fun than work
The economic impact of San Antonio's hospitality industry has reached $13.6 billion, according to a new study by  Trinity University  professors  Richard Butler and  Mary Stefl . That report, based on 2015 data, should provide Visit San Antonio with some timely new numbers to toss out at prospective travelers as the destination marketing group continues its transformation from a municipal agency to a public-private nonprofit.


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        Quote for the Month:

Landlords grow rich in their sleep.

           - John Stuart Mill


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