Weinritter Realty, a real estate developer in San Antonio, has announced plans to convert the eight-story Commerce Building office tower into residential units. The company acquired the building last year through a 1031 exchange with Harris Bay, another real estate firm.
According to reports from the San Antonio Business Journal, Weinritter aims to begin construction in 2025. The company’s goal is to redevelop the building as apartments for tax purposes and then sell it as a condominium building after several years. Originally built in 1902 and spanning over 44,000 square feet of space, this historic property was once home to Alamo National Bank.
In fact, last year’s report from the National Bureau of Economic Research listed the Commerce Building among one of twenty properties most suitable for multifamily conversion within San Antonio.
The design team responsible for this project includes B&A Architects based out of San Antonio and local architect Charles John who will be providing valuable advice throughout development.
This is not Weinritter’s first venture into repurposing buildings; they have successfully rehabilitated other properties such as St. Paul Square’s Best Western hotel.
