DEPARTMENT: Center City Development Office
DEPARTMENT HEAD: Lori Houston
COUNCIL DISTRICTS IMPACTED: 1
SUBJECT:
Victoria Park Property Exchange with San Antonio Housing Authority
SUMMARY:
An ordinance authorizing the disposition of approximately 0.95 acres of real property known as Victoria Park owned by the City of San Antonio located at 600 East Cesar Chavez Boulevard in New City Block 708 in Council District 1. In exchange, the City will receive approximately 1.95 acres of real property owned by the San Antonio Housing Authority (SAHA) located at 440 Labor Street in New City Blocks 3591, 6135 and 886 in Council District 1.
BACKGROUND INFORMATION:
In 2012, SAHA initially approached the City to inquire about the viability of exchanging the City's 0.95-acre Victoria Park located at 600 East Cesar Chavez for 1.95 acres of property owned by SAHA at 440 Labor Street, both of which are located in Council District 1. Through subsequent discussions, the parties have had the properties appraised and have agreed to general terms governing the transaction. Victoria Park is valued at $1,365,000 and the SAHA property is $1,360,000. The transaction will be a like-kind exchange.
The proposed real estate exchange received approval at both SAHA's Board Meeting and the City's Parks and Recreation Board in September 2013 and was canvassed in accordance with City policy. Additionally, the proposed transaction was approved by the Planning Commission in January 2014.
ISSUE:
The exchange of properties - and the transfer of Victoria Park's current function to a larger parcel - would effectively double the City's parkland in the neighborhood and place the park into a more interior neighborhood-centric location. The exchange also would allow SAHA ownership of the west commercial corner of Cesar Chavez Boulevard and Labor Street for the purpose of mixed-use development.
ALTERNATIVES:
City Council has the option to not approve the property exchange, however, this may inhibit SAHA's long-term redevelopment plans for the area.
FISCAL IMPACT:
There is no fiscal impact associated with this item.
RECOMMENDATION:
Staff recommends approval of the Victoria Park property exchange with San Antonio Housing Authority.