CPS Energy has relisted its distinctive Villita Assembly Building for sale.
The utility received multiple bids at the Feb. 15 deadline and is currently evaluating the offers, said a CPS Energy spokeswoman Monday.
The 24,785-square-foot circular building in the La Villita Historic Arts Village, formerly used as an event space with seating for up to 800, was designed by noted architect O’Neil Ford and completed in 1958. The single-story building with a concave roof is located next to the River Walk and also has a basement, according to the sales listing.
Commercial real estate firm CBRE is representing the seller, but a listing agent declined to provide any additional information, including the asking price. The spokeswoman also declined to provide the listing price. The building is appraised for tax purposes at $14 million.
In September 2018, CPS Energy put its surplus downtown real estate on the market as it prepared to move into its newly renovated offices in the former AT&T headquarters at 530 McCullough Ave.
At a board meeting on March 2, 2020, nine days before the COVID-19 outbreak was declared a pandemic, trustees gave CPS Energy the go-ahead to proceed with negotiations for the sale of the Villita building to an unidentified buyer. It’s unknown why that transaction didn’t occur.
Since then, the utility has sold two buildings and a parking garage on Navarro Street, where developers are planning office space and a hotel, the Tower Life parking garage and a parking lot on Navarro and Villita streets surrounding the Mexican Consulate.
At the time the board of trustees voted to liquidate its surplus downtown properties, the buildings added up to more than $46 million in assessed value, according to Bexar Appraisal District data.
In September 2021, the city of San Antonio began renovation work on La Villita to add a new fountain, landscaping, pavers and lighting, in a project that is expected to take a year. Planters have been removed and buildings housing a restroom and concession were demolished to make room for new restaurant concepts in the historic area.
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