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Originally Posted by deeger
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By Mitchell Parton – Reporter, San Antonio Business Journal
Feb 23, 2020, 2:10pm EST
A lot for sale along the River Walk could eventually become apartments or a hotel, among other possibilities.
The Texas General Land Office is selling 1.84 acres of vacant commercial land at the northeast corner of East César E. Chávez Boulevard and Dwyer Avenue, according to CBRE Group Inc. The property is along the San Antonio River Walk next to H-E-B’s headquarters and near the University of Texas at San Antonio’s downtown campus.
Eric DeJernett and Gene Williams with CBRE (NYSE: CBRE) will represent the Texas General Land Office in the sale.
“This quadrant of downtown San Antonio is experiencing a lot of developer attention with the proposed expansion of the UTSA campus into the area along with significant property investments by the city and county,” said Eric DeJernett, senior vice president for CBRE. “The site itself is geographically located in the middle of much of the current development activity in and around downtown.”
The size is zoned for office, retail, hotel and multifamily use. It falls under the third River Improvement Overlay zone, meaning that developments must preserve the traditional designs of the River Walk. Developers or other interested entities have until March 25 to submit offers for the property to CBRE.
DeJernett told the Business Journal that multifamily builders especially have shown interest in the property. Hotel and retail developers have also looked at the site, he said, and that it has possibility to turn the surrounding area into a mixed-use environment.
“This is an additional piece of the puzzle for San Antonio to create an environment for its CBD,” DeJernett said. “You have the right mix of employers and residential.”
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