Woodbranch Management is seeking to transform a medical office building in San Antonio into apartments. The Highpoint One and Two office towers, located on the northwest side of the city, could potentially house 848 apartment units if Woodbranch’s efforts to change the zoning are successful.
According to reports from the San Antonio Business Journal, it is unclear whether this conversion would involve renovating the existing buildings or demolishing them and constructing new ones. These properties were previously owned by Richmond Honan and were involved in a bankruptcy case that has recently been resolved. In 2022, Richmond Honan’s ownership entity for these buildings filed for bankruptcy with $53 million in defaulted loans, primarily owed to Capital One. After two years of legal proceedings, ownership was transferred to Woodbranch as they held ground lease rights under these buildings.
The request for a zoning change is currently being reviewed by the Development Services Department and would require approvals from both Zoning Commission and City Council before moving forward with any plans.
