The construction of the 22-story Canopy by Hilton continues at the northwest corner of North St. Mary’s and East Commerce streets. The hotel is being developed by Esquire Tavern owner Chris Hill and Merritt Development Group of Austin. Last week, Hill told the Heron passersby should see the structure reach its maximum height by mid-October. Designed by Lake|Flato Architects, the 195-room hotel will also include restaurants and an outdoor terrace, which was recently installed, jutting over the River Walk. It’s currently scheduled to open late second quarter of 2020.
The boutique hotel will cost between $55 and $60 million, Hill told the San Antonio Express-News in 2016. Hill purchased the property—the site of the former 1950s Mortgage Investment Corp./Sullivan Bank building and Alamo Fish Market—in 2013 for $2.2 million from Pano Riverwalk Ltd., a New York-based investment group.
Down the street, Hill is also rehabbing the circa-1893 Witte building, 135 E. Commerce St., into apartments and restaurant space, including a tiki bar at river level. In 2016, Hill received a $7.4 million incentive package from the city to go toward both projects for the rehab of historic structures and public upgrades.