Woodbranch Management has set its sights on transforming a medical office building in San Antonio into apartments. If successful, the Highpoint One and Two office towers located on the northwest side of the city could potentially house 848 apartment units. According to reports from the San Antonio Business Journal, it is unclear whether this project would involve converting the existing buildings or demolishing them and constructing new ones.
Previously owned by Richmond Honan, these two properties were involved in a bankruptcy case that was recently settled. In 2022, Richmond Honan’s ownership entity for these buildings filed for bankruptcy after defaulting on loans totaling $53 million with Capital One being their main creditor. After undergoing a two-year process, Woodbranch took over ownership as they held ground leases under both buildings.
Currently, Woodbranch’s request for a zoning change is being reviewed by the Development Services Department and will require approvals from both Zoning Commission and City Council before moving forward with their plans to convert these offices into apartments.
