SAN ANTONIO – The UT System Board of Regents has approved the University of Texas at San Antonio’s plans to purchase the downtown One Riverwalk Place building.
UTSA signed a letter of intent to purchase the 18-story office building in early August to further expand its downtown presence.
The decision was made during a meeting of the Council of Regents last Thursday.
It is not immediately clear how much the university plans to buy the building for. The estimated value of the building, built in 1981, is $22.25 million, according to the Bexar Appraisal District.
According to Thursday’s Board of Regents agenda, the purchase also includes a parking garage with around 550 parking spaces.
After a planning process began in the 2024-2025 academic year, initial plans will be made for moving into the building in summer 2025, the university said.
UTSA plans to house academic departments and support services in the building while exploring retail opportunities on the ground floor.
UTSA leadership said in an Aug. 15 email to faculty and staff that developments on the downtown campus would continue to “play an important role in the university’s growth and its campus planning vision.”
The email goes on to describe efforts to utilize space on the main campus and Park West campus and notes the 2025 opening of Blanco Hall, the university’s seventh residence hall.
Design of the campus in the city center
The university’s downtown reach has expanded significantly with the 2022 acquisition of the Southwest School of Art – located across the San Antonio River from the office building – and ongoing construction at its San Pedro II site, scheduled for completion in 2026.
UTSA opened the 15,000-square-foot San Pedro I in January 2023. It houses the university’s School for Data Science and programs focused on national security.
The groundbreaking ceremony for San Pedro II took place last October. Completion is planned for October 2025. The move-in opening for students is not planned until January 2026.
In May 20 documents about a visit to the UT System, UTSA outlined plans for some of its proposed acquisitions, including One Riverwalk Place.
Another example was a 1.8-acre site adjacent to UTSA’s two facilities in San Pedro.
The cult is located west of the Bexar County Justice Center and is owned by a company affiliated with GrayStreet Partners, the San Antonio Express-News reported.
The property, called Kallison Block, stretches north to south from Dolorosa St. to W Nueva St.
The 6,300-square-foot property consists mostly of vacant commercial premises and about 125 surface parking spaces, according to the Board of Regents’ May 9 agenda.
According to UTSA records, the property is valued at between $10 million and $12 million.
The documents said the property would be used for future campus expansion, but UTSA could also use it immediately as a parking lot.
Although the university’s plans for the site have not yet been finalized, documents state that the property “would meet an immediate need for parking for downtown staff and researchers.”
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