Key Project Details
- Historic Redevelopment: The Allen pays homage to the history of San Antonio and its architectural treasures. This preservation effort seeks to restore the former Allen's Flowers & Antiques building to its former glory, ensuring the preservation of its unique character within the Monte Vista Historic District.
- Creative Office Space: The property's transformation includes the development of common areas and creative office spaces, designed to cater to executives and professionals from diverse industries. A significant portion, 25%, will be occupied by the developer, Headwall Investments, LLC.
- Government Incentives: The Allen is taking full advantage of various government incentive programs to support sustainable development. These incentives include Federal and State Historical Rehabilitation Tax Credits, Property Assessed Clean Energy financing, the Federal Solar Investment Tax Credit program, and City of San Antonio Historic Rehabilitation Property Tax & Permit Fee Abatements. The property has earned the New Buildings Institute's Cirrus Low Carbon designation.
- Project Team: The success of The Allen project is attributed to a collaborative team effort. 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 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.
"Our mission with The Allen goes beyond real estate development," said George Wommack, CEO of Headwall Investments, LLC. "We are not just preserving history; we are creating a dynamic and sustainable future. This project is a testament to our commitment to the community and our dedication to innovation."
With The Allen, San Antonio is not only preserving its historical treasures but also embracing sustainable development, all while fostering a thriving business environment. This redevelopment project represents an example of how government incentives and private enterprise can work hand in hand to create a more vibrant and sustainable urban landscape.
