A stalled renovation of the first Riverwalk hotel in San Antonio finally seems to be gaining traction.
Owners of El Tropicano Riverwalk Hotel, which first opened in 1962, recently applied for a certificate of appropriateness with the city’s Historic and Design Review Commission, signaling a potential transformation of the historic hotel that closed in 2020, the San Antonio Business Journal reported.
A previous renovation proposal received HDRC approval in 2019, but the property at 110 Lexington Avenue has since changed hands, and the current proprietors have yet to be definitively identified. While documents submitted to the commission mention Chicago-based Trestle Studio, ownership remains unconfirmed with no recorded deed transactions or changes in the El Tropicano Hotel LLC entity.
The rehabilitation project resembles the 2019 plan, aside from a few modifications. The proposed demolition of the eastern portion of the hotel is no longer included under new ownership, and alterations to breeze-blocks, guardrails and the storefront are now on the table.
Land use attorney Patrick Christensen, representing El Tropicano Hotel LLC, sought zoning details in August, including height and story limits and permitted multifamily units under the current zoning and river overlay designation, the outlet reported.
Local firms Alamo Equity and Phoenix Hospitality Group purchased El Tropicano in 2018, envisioning a $50 million renovation. However, the previous owners faced a number of setbacks. The hotel’s closure in 2020 was followed by legal troubles, with an investor accusing Alamo Equity’s CEO of financial mismanagement. In June, foreclosure proceedings were initiated by Weston Urban, which provided a $6.34 million mezzanine loan, but the property never went to auction as planned.
As the HDRC gears up to review the case on Dec. 6, key players, including Alamo Equity and Trestle Studio, remain tight-lipped about the project’s future. The uncertainty surrounding ownership and past legal entanglements add an air of suspense to the much-anticipated redevelopment.
—Quinn Donoghue
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