UTSA announced Friday that it plans to purchase an 18-story office building to expand its growing footprint in downtown San Antonio.
The university has signed a letter of intent to buy One Riverwalk Place, a towering building formerly occupied by USAA and other tenants, and owned by Affinius Capital and Patrinely.
Located at 700 N. St. Mary’s St., the building is adjacent to the UTSA Southwest Campus, formerly the Southwest School of Art, which was acquired by the university in 2022.
In a statement describing its plans to acquire the building, university officials said it is part of UTSA’s 10-year phased approach “to accelerate the development of its downtown campus in order to promote workforce development and prepare career-ready graduates in San Antonio’s urban core.”
The purchase is pending the University of Texas System Board of Regents’ approval at its next meeting later in August.
“The opportunity to acquire One Riverwalk Place is so strategic for us,” stated UTSA President Taylor Eighmy, adding that the move affirms the university’s commitment to “expansion, collaboration and community engagement in downtown San Antonio.”
The building will be occupied by academic departments and support services starting in summer 2025, according to UTSA’s statement.
In a move to expand its tech presence in downtown San Antonio, in 2013, USAA moved about 200 employees from its northwest side headquarters into One Riverwalk Place. The company later moved several hundred more into the adjacent Bank of America Plaza, 300 Convent St.
The financial services giant vacated both office buildings in 2022, moving staff to its sprawling campus at 9800 Fredericksburg Rd.
UTSA, which opened its downtown campus at 501 W. César E Chávez Blvd. in 1997, has expanded into downtown at a rapid pace in recent years.
In January 2023, UTSA opened its $92 million San Pedro I facility, the School of Data Science and National Security Collaboration Center at 506 Dolorosa. Nine months later, the university broke ground for San Pedro II, a 180,000-square-foot facility that will be focused on innovation, entrepreneurship and careers.
“The Downtown Campus, anchored in San Antonio’s tech corridor, provides a unique environment to drive economic development, increase social mobility and support workforce talent,” stated Veronica Salazar, UTSA executive vice president for business affairs and chief financial officer.
