Peachtree Group has broken ground on a 171-suite Residence Inn by Marriott in downtown San Antonio, near the San Antonio River Walk, set to open in the second quarter of 2026.
The new Residence Inn will succeed an older-generation property downtown, near strong demand drivers, including the leisure appeal of the River Walk, educational activity from the expanding University of Texas at San Antonio and corporate and government demand from surrounding office buildings.
“San Antonio is a unique market with a growing need for extended-stay hotels,” said Greg Friedman, managing principal/CEO, Peachtree. “The Residence Inn will cater to the diverse demand drivers of San Antonio, including its thriving tourism sector and extensive corporate presence. Positioned within easy reach of the city’s popular attractions, restaurants and business hubs, this hotel will provide guests with a prime location for both work and leisure.”
Located within a Qualified Opportunity Zone (QOZ), this project underscores Peachtree’s commitment to fostering revitalization and growth in underserved communities, according to the company. The firm has been one of the more active hotel developers in QOZs, having already opened nine hotels, with another five under construction, including the new Residence Inn, in these designated areas.
“By building within a QOZ, Peachtree’s Residence Inn will create lasting economic impacts, from job creation in construction and operations to sparking further interest in nearby retail, dining and entertainment—vital elements for a thriving downtown community,” Friedman said. “We are optimistic that Washington, DC, will recognize the QOZ’s impact on job creation and economic activity within these zones and will extend the program, enabling us and other developers to deliver new commercial real estate projects across the U.S.”
Merritt Development Group, an Austin, Texas-based hotel development company, will be responsible for constructing the Residence Inn, which will feature a modern design focused on home-like amenities, including fully equipped kitchens, separate living areas and workspaces in each suite. Amenities will include a fitness center, outdoor gathering space, meeting space and a Caribou Coffee outlet.
“The new Residence Inn will provide guests with a dynamic extended-stay experience uniquely suited to San Antonio’s market,” Friedman added. “Peachtree’s commitment to thoughtful development is evident in every aspect of this property, from its modern amenities to its prime location, ensuring it will be a valued addition to the city.”
