SAN ANTONIO – The UT System Board of Regents has approved the University of Texas at San Antonio’s plans to purchase the One Riverwalk Place building downtown.
UTSA signed a letter of intent to purchase the 18-story office building in early August to further expand its presence downtown.
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The decision came during a Board of Regents meeting last Thursday.
It is not immediately clear how much the university expects to purchase the building for. Originally built in 1981, the assessed value of the property is $22.25 million, according to the Bexar Appraisal District.
According to the Board of Regents’ Thursday agenda, the purchase includes an approximately 550-space parking garage.
After a planning process commences during the 2024-2025 academic year, initial plans will be made to move into the building in the summer of 2025, the university said.
UTSA expects to house academic departments and support services in the building while exploring retail options on the first floor.
UTSA leadership said in an Aug. 15 email to faculty and staff that downtown campus developments would continue to “play a major role in the university’s growth and campus planning vision.”
The email goes on to describe efforts to utilize space at its Main and Park West campuses, citing the 2025 opening of Blanco Hall, the university’s seventh campus residence hall.
Shaping its downtown campus
The university’s downtown footprint has grown substantially with the 2022 acquisition of the Southwest School of Art — which sits across the San Antonio River from the office building — and ongoing construction on its San Pedro II facility, aiming for completion in 2026.
UTSA opened the 167,000-square-foot San Pedro I in January 2023. It houses the university’s School for Data Science and programs focused on national security.
Ground was broken on San Pedro II last October. Construction is aimed for completion in October 2025. Students are not expected inside until January 2026.
In May 20 documents from a visit with the UT System, UTSA outlined plans for some of its proposed purchases, including One Riverwalk Place.
Another included a 1.8-acre piece of land adjacent to UTSA’s two San Pedro facilities.
The sect is west of the Bexar County Justice Center and owned by a company affiliated with GrayStreet Partners, the San Antonio Express-News reported.
The property, dubbed the Kallison Block, runs north to south from Dolorosa St to W Nueva St.
The 68,500-square-foot property consists of mostly vacant commercial storefronts and approximately 125 surface parking spaces, according to a May 9 Board of Regents agenda.
UTSA’s documents approximate the property to be valued between $10-12 million.
The documents said the property would be used for future campus expansion; however, UTSA could use it for immediate parking.
Although the university’s plans for the land are not certain, the documents say the property would “fill an immediate need for employee and research parking downtown.”
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