Weston Urban has tightened its grip on San Antonio real estate, adding another property to its downtown assemblage in preparation for future development.
The local firm paid an undisclosed amount for 310 West Commerce Street, which houses a decaying two-story commercial building that’s begging for redevelopment, the San Antonio Business Journal reported.
The previous owner, Wayne Yakes, purchased the 4,800-square-foot building in 2016, with plans for the Frances A. Yakes Museum of Art, which would’ve showcased his private collection of 5,000 pieces from artists around the world.
The property, adjacent to the Spanish Governor’s Palace, is valued at roughly $1 million, according to the Bexar County Appraisal District.
Weston Urban’s plans for the site are unclear, although a large-scale redevelopment would align with the firm’s strategy, even if it necessitates rezoning.
Last fall, Weston Urban requested to rezone eight downtown properties, acquired between 2015 and 2018, for mixed-use development with no building size or height restrictions.
The firm’s downtown portfolio also includes the Weston Centre offices, the Milam building, several Houston Street properties and an entire 4-acre block at Dolorosa Street that comprises the Washington Square office building.
Weston Urban is developing the Continental Block, a mixed-use project that will yield a revamped Continental Hotel building and a 16–story affordable apartment building with 290 units. The apartment building is set to be completed this summer.
The firm is also wrapping up construction of a 32-story apartment tower for its 300 Main multifamily project.
—Quinn Donoghue
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