Introduction to the Building’s History
In 2019, restaurateur Lisa Wong embarked on an ambitious journey to breathe new life into one of San Antonio’s oldest and most historically significant buildings. located at 114 E. Main Plaza, the property was acquired by Wong four years prior. She envisioned transforming the three-story structure, which directly faces the renowned San Fernando Cathedral, into a vibrant retail space accompanied by modern apartments featuring a terrace that offered picturesque views of Main Plaza. However, as of late 2024, Wong has opted to list the building for sale, marking a significant shift in her plans for redevelopment.
Real Estate Listing and Potential Buyers
The significant 7,500-square-foot building is currently available for purchase, with Kuper Sotheby’s global real estate advisors, Alan Valadez and Binkan Cinaroglu, tasked with the listing. Although the specific pricing has not been disclosed, county tax records assess the property at $1.3 million. Valadez has noted a growing interest from potential buyers, who are attracted not only by the location in downtown San Antonio but also by the building’s deeply rooted history and its proximity to the famous River Walk.
A Glimpse into the Building’s Past
Originally constructed in 1742, the building was initially known as Casa Reales and operated as the seat of government for many years. Throughout the 1800s, it housed various crucial municipal functions including a courthouse and jail. A significant reconstruction took place in 1876-77, reaffirming its longevity and importance within the community. From 1953 until 2009, the building served as the Pauline Books & Media Center, run by the Daughters of St. Paul, who were popularly referred to as “The Media Nuns.” Following Wong’s acquisition in 2013, the building stood empty while plans for its revitalization were delineated.
Zoning and Use Considerations
The property is intricately zoned for both commercial and residential use under the River Improvement Overlay 3 designation, aimed at regulating development to protect the integrity of the San Antonio River. The building itself features a basement, a main floor, and a terrace level, offering a variety of potential configurations for any new owner. Additionally, it’s positioned in a historic district and holds the designation of an individual historical landmark, underscoring its cultural significance within the area.
Funding and Development Challenges
Wong’s initial aspiration for the building included a $4 million restoration project, an endeavor for which she garnered financial backing through the Houston Street Tax Increment Reinvestment Zone (TIRZ) totaling $1.1 million, as well as $1.5 million in historic tax credits. However, the development agreement stipulates that any TIRZ funding could only be transferred to a new owner with the approval of both the TIRZ Board and City Council. Despite the anticipation of beginning the plaza’s redevelopment in 2020, the COVID-19 pandemic led to further delays, ultimately causing Wong to reassess her capability to follow through with her original development plans.
Current Context of Main Plaza Redevelopment
While Wong’s vision for the building may be shifting, the broader initiative for Main Plaza is set to move forward. The Main Plaza Conservancy, a nonprofit organization dedicated to the caretaking of this historical area, has been working alongside the City of San Antonio to enhance the plaza’s accessibility and draw attention to its rich historical narrative. The last major renovation occurred in 2008, and recent interest in the area has sparked development projects such as the imposing Floodgate apartment building and various hospitality venues, further revitalizing the downtown locale.
Conclusion: Looking Ahead
The future of the historic building at 114 E. Main Plaza remains uncertain as it is put on the market. The interest it has generated showcases the ongoing attraction to downtown San Antonio’s historical architecture and the potential for revitalization. While Wong’s initial vision faces challenges, the overall plans for Main Plaza seem promising, with various development projects aiming to enhance the area for residents, visitors, and students alike. The transaction of this building could very well lead to a renewed vision for this landmark, preserving its historical significance while adapting it for modern uses.
FAQs
What is the historical significance of the building?
The building, originally constructed in 1742, has served as a governmental seat and housed essential municipal operations, making it one of San Antonio’s most significant historical properties.
Why is the building currently for sale?
Lisa Wong decided to list the building after realizing she no longer has the capacity to oversee its redevelopment due to other business commitments and the delays caused by the COVID-19 pandemic.
What type of development is allowed on this property?
The property is zoned for both commercial and residential use, allowing for a variety of potential development options that align with local regulations protecting the San Antonio River.
How has the area around Main Plaza changed recently?
There has been a resurgence of development interest in the Main Plaza area, with new residential and hospitality projects initiated to enhance the neighborhood, aiming to create a more vibrant community.