June 7, 2017 Comments Off on Mexican Magnate Buys River Walk Land Views: 423 San Antonio, Texas News

Mexican Magnate Buys River Walk Land

Alonso Ancira, executive chairman of Mexican steel producer Altos Hornos de Mexico, acquired 0.15 acres along the River Walk from the San Antonio River Authority. The purchase price of $514,000 is the property’s appraised value, as well as the cost to move and recreate a garden that currently sits on the site.

Ancira acquired the acreage through Epsilon International, which he also owns. Epsilon plans to build a three-story office building on the site. The company already owns an adjacent 0.17 acres on Old Guilbeau Street, on which sits a building containing Ancira’s nonprofit organization Mexicans and Americans Thinking Together (MATT).

One condition of the sale was Epsilon’s agreement to a restrictive covenant, requiring that whatever is built on the land will limit runoff into the San Antonio River.

Read More at San Antonio Express

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