A transformative redevelopment project is set to redefine the commercial real estate landscape in San Antonio. The Allen, located at the corner of Ashby and McCullough Ave in the Monte Vista Historic District, is breathing new life into the former Allen’s Flowers & Antiques building, while promoting sustainability and leveraging government incentive programs.
The Allen pays homage to the rich history of San Antonio and its architectural treasures. This historic preservation effort seeks to restore the former Allen’s Flowers & Antiques building to its former glory, preserving its unique character within the Monte Vista Historic District.
The property’s transformation includes the development of dynamic common areas and high-end creative office spaces. Designed to cater to executives and professionals from diverse industries, the creative office spaces aim to create a vibrant and thriving business environment. A significant portion, 25%, will be occupied by the developer, Headwall Investments, LLC.
To support sustainable development, The Allen is taking full advantage of various government incentive programs. These include Federal and State Historical Rehabilitation Tax Credits, Property Assessed Clean Energy (PACE) financing, the Federal Solar Investment Tax Credit (ITC) program, and City of San Antonio Historic Rehabilitation Property Tax & Permit Fee Abatements. The property has even earned the prestigious New Buildings Institute’s Cirrus Low Carbon designation.
The success of The Allen project is attributed to a collaborative effort by an exceptional team. Studio8 Architects, Pape-Dawson Engineers, Guido Construction, and Big Sun Solar have combined their expertise to bring this vision to life. Development and leasing services were expertly handled by JLL. Financing for the project was provided by Broadway Bank and PACE Equity, LLC. Historic rehabilitation tax credit services were rendered by Ryan, LLC, and Novogradac.
George Wommack, CEO of Headwall Investments, LLC, expressed his vision for The Allen, stating that it goes beyond real estate development. The project aims to not only preserve history but also create a dynamic and sustainable future. It is a testament to the commitment to the community and dedication to innovation.
With The Allen, San Antonio is embracing sustainable development while preserving its historical treasures. This redevelopment project showcases the success of government incentives and private enterprise working hand in hand to create a more vibrant and sustainable urban landscape.
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About Headwall Investments, LLC:
Headwall Investments, LLC is a San Antonio based real estate investment and development firm. The company focuses on acquiring, developing, and redeveloping commercial real estate in Texas. For more information on Headwall please visit their website or call 210-343-2186.
Sources:
– Headwall Investments, LLC