New Braunfels, Texas, December 6, 2025
The New Braunfels City Council has approved a $2.2 million incentive package for The Neue, a four-story mixed-use condominium project in downtown. This initiative represents the city’s inaugural downtown condominium development and is projected to invigorate further redevelopment in the area. The project will offer 43 owner-occupied units and 5,000 square feet of retail and office space, with construction beginning in early 2026 and completion expected by fall 2027. This strategic plan aligns with the city’s efforts to enhance downtown infrastructure and connectivity.
New Braunfels Approves $2.2 Million Incentive for Downtown Condo Project
New Braunfels, Texas – The New Braunfels City Council has approved a $2.2 million incentive package for The Neue, a four-story mixed-use condominium development set to be constructed at 699 West San Antonio Street in downtown New Braunfels. This project marks the city’s first downtown condominium initiative and is expected to stimulate further redevelopment in the area.
Project Details
The Neue is a $28 million development that will feature 43 owner-occupied condominium units, ranging from one- to three-bedroom floor plans. Additionally, the building will include approximately 5,000 square feet of ground-floor retail and office space. Construction is anticipated to commence in early 2026, with completion projected for fall 2027. The project aims to enhance downtown walkability, connectivity, and infrastructure, aligning with the city’s comprehensive strategic plan, Envision New Braunfels.
Incentive Structure
The approved incentive package comprises two components: a $700,000 reimbursement for public infrastructure improvements along Guenther Avenue and San Antonio Street, and a $1.5 million payment to the developers upon the issuance of a certificate of occupancy. The funding will be sourced from the New Braunfels Economic Development Corporation (NBEDC), primarily funded by a portion of sales tax revenue. The city estimates a net fiscal benefit of $1.58 million over the next decade as a result of this development.
Community Response
During the council meeting, several community members expressed their views. One resident questioned the allocation of funds for what was perceived as a luxury project, while another highlighted the potential for The Neue to serve as a catalyst for future downtown development, suggesting that initial public-private partnerships could lead to increased private investment in the area.
Background Context
The establishment of The Neue follows the creation of the Downtown Tax Increment Reinvestment Zone (TIRZ No. 3) by the City Council in September 2021. This zone aims to support catalytic infrastructure and incentives to facilitate downtown redevelopment. The city’s participation in the TIRZ is limited to 85% of the real and business personal property tax revenue, with collections having started in fiscal year 2023. The Neue is the last building in the Downtown TIRZ to be completed, marking a significant milestone in the city’s efforts to revitalize the downtown area.
Key Features of The Neue Project
| Feature | Description |
|---|---|
| Location | 699 West San Antonio Street, downtown New Braunfels, Texas |
| Project Type | Four-story mixed-use condominium development |
| Residential Units | 43 owner-occupied condominiums (one- to three-bedroom floor plans) |
| Commercial Space | Approximately 5,000 square feet of ground-floor retail and office space |
| Construction Timeline | Start: Early 2026; Completion: Fall 2027 |
| Incentive Package | $2.2 million from NBEDC: $700,000 for public infrastructure improvements; $1.5 million upon certificate of occupancy |
| Estimated Fiscal Benefit | $1.58 million net over the next decade |
| Alignment with Strategic Plan | Enhances downtown walkability, connectivity, and infrastructure; stimulates further redevelopment |
| Relation to TIRZ No. 3 | Last building to be completed in the Downtown Tax Increment Reinvestment Zone, established in September 2021 |
Frequently Asked Questions (FAQ)
What is The Neue project?
The Neue is a four-story mixed-use condominium development located at 699 West San Antonio Street in downtown New Braunfels, Texas. It will feature 43 owner-occupied condominium units and approximately 5,000 square feet of ground-floor retail and office space. Construction is expected to begin in early 2026 and be completed by fall 2027.
What incentives has the New Braunfels City Council approved for The Neue?
The City Council approved a $2.2 million incentive package for The Neue, consisting of a $700,000 reimbursement for public infrastructure improvements along Guenther Avenue and San Antonio Street, and a $1.5 million payment to the developers upon the issuance of a certificate of occupancy. The funding will come from the New Braunfels Economic Development Corporation (NBEDC), primarily funded by a portion of sales tax revenue.
How does The Neue align with New Braunfels’ strategic plans?
The Neue aligns with the city’s comprehensive strategic plan, Envision New Braunfels, by enhancing downtown walkability, connectivity, and infrastructure. The project is expected to stimulate further redevelopment in the area, contributing to the revitalization of downtown New Braunfels.
What is the Downtown Tax Increment Reinvestment Zone (TIRZ No. 3)?
The Downtown Tax Increment Reinvestment Zone (TIRZ No. 3) was established by the New Braunfels City Council in September 2021 to support catalytic infrastructure and incentives for downtown redevelopment. The city’s participation in the TIRZ is limited to 85% of the real and business personal property tax revenue, with collections having started in fiscal year 2023. The Neue is the last building in the Downtown TIRZ to be completed, marking a significant milestone in the city’s efforts to revitalize the downtown area.
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