Alamo Colleges has finalized the sale of its old district headquarters in Southtown to the San Antonio River Authority.
The river authority will pay Alamo Colleges $4.15 million in cash and give the community college system another $2.15 million in debt forgiveness. The deal closed at the end of September.
The headquarters for the San Antonio River Authority (SARA) is located at 100 East Guenther St., just blocks away from the former Alamo Colleges property on 201 W. Sheridan St. SARA plans to move staff currently working at an office space north of downtown closer to its main office.
“The acquisition supported the [SARA] board’s strong desire to maintain a presence along the San Antonio River,” Steven Schauer, SARA’s director of government and public affairs, wrote in an email. “Along with the new acquisition, the river authority will invest in renovations to its existing headquarters to ensure a long-term commitment to the King William location. “
The Southtown property was the old site of Alamo College’s administrative offices. In July, Alamo Colleges staff completed the move into the new district headquarters located on North Alamo Street, near the Pearl in Government Hill.
The new Alamo Colleges headquarters features almost 160,000 square feet of space on 12.5 acres. It houses about 600 employees who previously worked in office spaces throughout the city. The construction of the space was funded in part by the sale of the Alamo University Center and the planned sales of the office spaces on Sheridan Street, Houston Street, and Pat Booker Road. All four properties were appraised at $17.4 million.
Alamo Community Group (ACG), a local affordable housing nonprofit, announced in late October it had acquired the Alamo Colleges’ property located at 811 West Houston St. ACG plans to turn the property into multifamily housing with 170 affordable units. The nonprofit purchased the property for $2.8 million, according to community college officials.