The condominium component topping the city's convention hotel at600 E. Market St. doesn't come with an offering price. However,Joshua Shatz, principal with Custom Properties LLC of Dallas saysthe condos could attract an end market price of $400,000 per unit."There is strong rental demand and even demand for condominiums,especially in the downtown area where Alteza is located," saysShatz who is marketing the asset on behalf of FaulknerUSA andpartners, which developed and owns the Grand Hyatt San Antonio andAlteza.

As there isn't a whole lot of financing available to condobuyers, "these could work well as short-term, corporate rentals,but whoever bought it for that use would have to have a stronglocal presence or strong local management company to do this,"Shatz tells GlobeSt.com.

The condominium component is coming to market just days afterthe SanAntonio Express News updated readers about hotel andcondo developer FaulknerUSA's troubles with the project. Since thecity signed an agreement in 2005 with the Austin-based developeronto the $215 million project, the convention center hotel andcondo component experienced many delays due to weather and thediscovery of utility lines beneath the site. Delay fines and othercosts piled up on FaulknerUSA and its partners and liens andlawsuits are adding to the problem.