I
nternational Bank of Commerce has acquired the 0.2-acre parcel at 151 East Travis Street in downtown San Antonio, where a canceled hotel project was previously planned. The bank purchased the land from Equity Secured Investments for an undisclosed price, although the Bexar Appraisal District values it at $3.9 million. This marks a new chapter for the site, which has been on a rollercoaster of development plans over the past few years.

    Initially, Florida-based Seaside Hospitality targeted the property for a boutique hotel in 2018, but those plans fell through. The land was then sold to Harris Bay, a California-based real estate investment firm, which envisioned a 121-room hotel called Artista with various amenities. Despite securing $2.2 million in funding and an opportunity zone designation, construction never began, and the project was abandoned.

    IBC's acquisition comes as Visionworks of America prepares to vacate its large office space in downtown San Antonio for a smaller location in Far North Central by the end of the year. The bank's strategic investment could reinvigorate the area, drawing new business and tourism to the River Walk.