After 4 years of inaction, why is San Antonio accommodating Hemisfair project developer Zachry?
Previous renderings of Zachry Hospitality’s mixed-use development at Hemisfair, which would be redesigned under a revised proposal.Four years after Zachry Hospitality was supposed to start building a $200 million mixed-use development around a 9-acre public park at Hemisfair, the company has yet to turn even a teaspoon of dirt.
Zachry’s failure to execute on the original deal didn’t seem to give council members much pause about considering a new one. Andres Andujar, HPARC’s CEO, said he doesn’t blame the company for the holdup. Neither does the mayor. But starting construction in mid-2018 — after the Final Four and Tricentennial activities — was baked into a timeline shown to council members in 2017. That was also nearly a year-and-a-half before the pandemic began taking hold., email and agenda records indicate Zachry’s rent payments were under discussion as early as April 2019, long before the pandemic.
Under the new agreement, Zachry would pay $1.15 million in rent annually. Because HPARC has not received payments from the company, the city would defer HPARC’s reimbursement payments through 2029, at which point the nonprofit would pay back the city with interest.
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