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  #81  
Old Posted Nov 20, 2023, 4:53 PM
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Looks like some activity is going on at the former Solo Serve Building. The plywood was put up over the weekend.

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  #82  
Old Posted Nov 29, 2023, 7:27 AM
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Uh-oh.

https://www.expressnews.com/business...e-18518232.php

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A lender is moving to foreclose on the historic Hedrick Building in downtown San Antonio, which is under renovation for conversion from offices to an extended-stay hotel.

A limited liability company affiliated with Bright Lakes Real Estate, which is working on the conversion, has defaulted on a loan Broadmark Realty Capital Inc. made in 2018, the lender said.

The original loan amount of $2.8 million was later increased to $15.2 million, according to real estate records. It’s unclear how much Bright Lakes owes.

The 10-story building at North St. Mary’s and East Martin streets and a smaller building adjacent to it are scheduled to be sold at a foreclosure auction next week. Craig Glendenning, co-managing partner at Bright Lakes, said he and his business partners are working to keep that from happening.

“We’re doing everything we can to keep it from going to foreclosure and plan on finishing the project,” he said. “We’re not going to let it go to foreclosure … it’s a very difficult market right now, as we all know.”

The original loan was made by a company affiliated with Ready Capital Corp., which merged with Broadmark earlier this year. Ready Capital did not immediately respond to an inquiry.

The building opened with fanfare in 1928 as the Real Estate Building. Some of San Antonio’s most prominent developers set up offices there.

Designed by Adams and Adams Architects, the building is made of reinforced concrete, brick, stone and terra cotta. Adams and Adams was involved in development of Laurel Heights, a suburb that’s now part of Monte Vista.

Fort Worth architect and engineer Wyatt Hedrick bought the building in 1958 and remodeled it in 1963. Occupancy fell in the ’80s and the building was empty by 1986. In 1993, the Resolution Trust Corp. liquidated the assets of Gill Savings Association and sold the building to local businessman B.P. Agrawal.

The city’s code compliance division sought to have it razed in 2008 after receiving complaints about its broken windows and graffiti-riddled exterior but later withdrew the request.

Glendenning and his business partners have been renovating the building for several years with the help of historic tax credits. Among the changes Glendenning made was removing red-and-white metal cladding that had ensconced the exterior’s ornate brick and limestone facade.

He originally planned to turn the building into apartments until he received an offer from short-term rental company Stay Alfred. But Stay Alfred folded during the pandemic, and Glendenning instead decided to make it an extended-stay hotel with 72 rooms along with space for retail and a title company’s closing office.

Glendenning also plans to renovate the adjacent Voss building. Restaurants, suites for businesses and an entertainment venue are some of the uses that have been discussed.
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  #83  
Old Posted Nov 29, 2023, 10:39 PM
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^^^ Saw this coming because the activity and news has been lacking
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  #84  
Old Posted Nov 30, 2023, 2:46 AM
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This one's been all over the place for years honestly. At least we got the cladding off?
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  #85  
Old Posted Nov 30, 2023, 4:22 AM
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Originally Posted by Keep-SA-Lame View Post
This one's been all over the place for years honestly. At least we got the cladding off?
They did a lot of restoration. Windows, interior, terra cotta tile repair.
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  #86  
Old Posted Dec 19, 2023, 6:32 PM
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In building the new you uncover some of the old...this is the former Maddy McMurphy's (and before that The Ticket) being turned into a new bar The Rose.

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  #87  
Old Posted Dec 19, 2023, 6:57 PM
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Originally Posted by SpiritofSeguin View Post
In building the new you uncover some of the old...this is the former Maddy McMurphy's (and before that The Ticket) being turned into a new bar The Rose.
I grew up under the impression that Satel's was The store for men. I stand corrected.
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  #88  
Old Posted Dec 19, 2023, 7:34 PM
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Wow very cool, I had no idea there was an original sign underneath
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  #89  
Old Posted Jan 22, 2024, 8:28 PM
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An inside look at the Tower Life office building slated for apartments

https://sanantonioreport.org/san-ant...ng-conversion/

Click thru for some "before" pics and info about their plans.
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  #90  
Old Posted Jan 23, 2024, 3:12 AM
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Total pie in the sky wish but I hope they consider opening the top outdoor area as an observation deck for the public. That view of the Tower/Convention Center/Alamodome is awesome!
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  #91  
Old Posted Apr 10, 2024, 8:44 PM
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I know this appears very faint on the webcam but it looks like the InterContinental Hotels logo was installed at 111 E. Pecan. I noticed it does have lighting installed too from looking at it early this morning, not much to it though
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  #92  
Old Posted Apr 10, 2024, 10:15 PM
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Kinda wish they would have done something with the crown/exterior on this one honestly. Good brand addition though.
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  #93  
Old Posted Apr 15, 2024, 7:20 PM
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Quote:
Originally Posted by CWalk99 View Post


I know this appears very faint on the webcam but it looks like the InterContinental Hotels logo was installed at 111 E. Pecan. I noticed it does have lighting installed too from looking at it early this morning, not much to it though
Yes!

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  #94  
Old Posted Apr 15, 2024, 9:39 PM
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It actually looks good there. Much better than that monstrosity across the street.
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  #95  
Old Posted Apr 15, 2024, 11:07 PM
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Looks like they changed the roof color of the crown too. Definitely looks better when it's more cohesive like that.

Agree on that Frost building too. Not sure why they bothered renovating that thing. Should have demoed it and freed up a lot.
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  #96  
Old Posted May 14, 2024, 12:20 AM
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Tower Life Building set to begin next chapter as housing complex

"...Garza recently participated in a paid tour of the iconic building, which will close at the end of the month for a two-year renovation project to convert the bulk of the office space into a 244-unit housing complex.

A group that includes the McCombs family, local developer Ed Cross and Jon Wiegand of Alamo Capital Advisers bought the Tower Life Building from the Zachry family in May 2022 for an undisclosed price. Plans are to turn the building into a multiuse facility that will include apartments, retail space and restaurants. Estimated costs of the renovations have not been disclosed...."

https://www.expressnews.com/news/art...r-19442342.php

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