UTSA to buy property next to School of Data Science downtown from GrayStreet
https://www.expressnews.com/business...vmgKS5Ig5WEu5x
The University of Texas as San Antonio wants to buy a cluster of dilapidated buildings and parking spaces next to its School of Data Science and National Security Collaboration Center as it seeks to expand its holdings downtown and draw more students to its technology programs there.
The university would buy the 1.5-acre property along South Flores Street between Nueva and Dolorosa streets from a company affiliated with San Antonio firm GrayStreet Partners.
The UT Board of Regents is scheduled to vote Thursday morning on authorizing the acquisition, which encompasses buildings totaling 68,500 square feet, including one that was once Kallison’s Western Wear, and a parking lot with 125 spaces.
It fits with UTSA leaders’ aim to have 10,000 students living, attending classes and conducting research across the roughly 32 acres that the university owns downtown by 2028, said Corrina Green, UTSA’s associate vice president of real estate, construction and planning.
“Having the opportunity to acquire the remaining portion of that entire block was very attractive to us,” Green said. “It makes sense as a real estate transaction, but it really helps us with our goals as we look at expanding our footprints around all three of our campuses downtown.”
It’s unclear what the university would pay for GrayStreet’s property, which the Bexar Appraisal District values at $7.7 million. The price is not to exceed fair market value as determined by an independent appraisal, the Board of Regents’ agenda states. Green said a price has not been determined....
The buildings to be bought carry a local historic designation, though as a state entity UTSA is not subject to local jurisdictions. Green said the university is still researching and assessing the buildings, which are in poor condition, and considering whether the facades could be preserved and maintained.
UTSA has not made plans for the site, other than to use it as public parking for now, Green said. The transaction is expected to close in several months....