San Antonio River Walk Hotel Scores $79 Million Loan

Investment and development firm Trestle Studio scored a $79 million construction loan to renovate a historic hotel in downtown San Antonio.

The loan, finalized on Dec. 26 from Fortress Credit Company, enables Trestle Studio and its partners — Sopris Capital and The Town Lake Company — to finish work on El Tropicano Riverwalk Hotel, the San Antonio Business Journal reported.

The renovation plan, led by Studio8 Architects, includes an extensive overhaul of the hotel’s interior, with a focus on updating its guest rooms while preserving its mid-century modern character. The project will also create new connections between the hotel, located at 110 Lexington Avenue, and the San Antonio River Walk.

A staircase will link the hotel to the River Walk, and a deck will overlook the river.

The hotel is expected to reopen in 2026.

Once the upgrades are complete, the hotel should integrate more seamlessly into its surrounding neighborhoods, such as River North and Tobin Hill, positioning it as a central point between downtown and the Pearl District.

Recent development projects in San Antonio include a supportive housing complex called the Commons at Acequia Trails. The $57.7 million complex will have six buildings spanning 7 acres along South Presa Street.

Additionally, McCombs Enterprises is developing a $295 million mixed-use development along the River Walk featuring two apartment buildings with 325 units, a 70,000-square-foot office building and a 146-key hotel.The largest project proposed for the Alamo City is a downtown sports and entertainment district. The project, code-named Project Marvel, includes an expanded convention center, upgrades to the Alamodome and potentially a $1 billion arena for the Spurs. The stadium is slated to cost between $3 billion to $4 billion to build.

— Andrew Terrell