San Antonio Developers Join Texas Business Hall of Fame

Walter J. Embrey Jr. and Peter J. Holt received induction into the Texas Business Hall of Fame on Thursday, joining seven other inductees in the Class of 2026.

Both men have built their careers in San Antonio. Embrey, who is 80, founded the multifamily development firm Embrey in 1974. The company has developed more than 50,000 residential units and over 6 million square feet of commercial property across six states. Currently, the firm has more than 6,000 units under construction or in development. Embrey remains chairman and general partner, while his son Trey Embrey serves as president and CEO.

Holt, who is 40, leads Holt Group, an enterprise that operates industrial equipment dealerships and truck centers. He also serves as chairman and managing partner of the San Antonio Spurs. In that role, he is helping to lead efforts to build a new NBA arena as the anchor of a sports district in downtown San Antonio. He is the third member of his family to head the organization.

The Hall of Fame also considers philanthropy when selecting inductees. Holt has served as co-chair of Early Matters San Antonio and chaired the Task Force on Early Childhood Education and Care. He donated land for a Pre-K 4 SA South campus. Embrey has supported education through his backing of UT San Antonio and the San Antonio Independent School District, where he grew up.

Embrey began his career in Austin after attending the University of Texas. He recalled sitting in a homebuilder's lobby for hours before being hired. He later worked for a high-rise builder and returned to San Antonio to start his own company. He chose to keep the firm privately owned to maintain control over its decisions and culture. “We controlled what we did, how we did it, when we did it,” Embrey said.

Trey Embrey said his father’s dedication to doing things the right way shaped the company from the beginning. “His commitment to doing things the right way, his determination, and his belief in people have shaped Embrey from the very beginning,” Trey Embrey said. He noted that his parents took the three siblings to look at apartment communities and construction sites as children, instilling an appreciation for the business.

David Adelman, principal of Area Real Estate, worked with Embrey on the Tin Top Flats and Creamery project at 847 E. Ashby Place in Tobin Hill. Adelman described Embrey as a great mentor and friend. Other inductees included Cody Campbell, John Sellers, Miguel Garza, Veronica Garza, J. Luther King Jr., and John B. Poindexter.