Breaking will be offline for scheduled maintenance Friday Feb. 26 9 PM US EST to Saturday Feb. 27 6 AM EST. We apologize for the inconvenience.


Thank you for sharing!

Your article was successfully shared with the contacts you provided.

AUSTIN-San Antonio city council may decide next week on financing options for a planned $300 million convention center hotel that could push the 1,200-room to 1,500 room complex closer to reality.

Albert Garza, San Antonio’s senior economic development specialist, tells the city council will meet Oct. 24 to discuss whether the hotel will be funded through private or public money or a combination of both. The site is adjacent to the Henry B. Gonzalez Convention Center and the city’s Riverwalk.

Five firms have submitted proposals for the hotel, which is estimated to cost more than $300 million.

“The question they need to answer is do they want the financing all public, all private or a mixture of public and private funds,” Garza says. “That (decision) will move the process forward by leaps and bounds.”

It could also eliminate some of the firms who have pitched proposals to the city based on their funding packages, he says.

The proposed facility, to be built on the site of a city-owned garage, will include 1,200 to 1,500 hotel rooms and 50,000 sf of meeting space, along with a garage that will serve both the hotel and the adjacent convention center.

Garza says a decision on funding will allow the city council to move forward and pick a developer for the project, which is expected to begin construction in late 2003 or early 2004.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.