W Hotel in the works for downtown San Antonio, sources say

Luxury hotel chain W Hotels is in talks to open an upscale hotel near The Pearl in downtown San Antonio, sources say.

On ExpressNews.com: San Antonio lands Texas’ first ‘opportunity zone’ investment under Trump tax bill

The boutique hotel wants to set up shop in a 20-story building being developed by local developer GrayStreet Partners at 1603 Broadway, two people with knowledge of the discussions said. In addition to office space, the plans for the building include a hotel.

The 195-room hotel is in the planning stage, W Hotels’ parent company, Marriott International, told data firm STR, which tracks the hospitality industry. Marriott projects the hotel will open in January 2022.

Peter French, GrayStreet’s development director, did not return calls and a text message requesting comment. A Marriott spokeswoman did not provide comment by press time.

On ExpressNews.com: Filling in San Antonio’s skyline: An update on 10 major downtown construction projects

French previously told the Express-News GrayStreet expects to begin work early this year on the Broadway tower — which will have 10 stories of hotel space, four stories of offices, three stories of parking and ground-floor retail. The city Historic Design and Review Commission voted Dec. 5 to allow GrayStreet to begin site work, but the panel must give final approval in the spring.

W Hotels, which has hotels in Dallas and Austin, is known for a trendy vibe and caters to young, affluent guests. The chain operates 57 hotels across the globe.

State and city officials in Houston are mulling a tax incentive package worth $42.6 million to developers to build a $120 million W Hotel in downtown Houston.

On ExpressNews.com: City panel gives preliminary OK to proposed 24-story tower in downtown San Antonio

W Hotels would join a growing luxury hotel market in downtown San Antonio.

At 1603 Broadway, the proposed hotel would be a stone’s throw away from Hotel Emma at the Pearl, which has drawn international attention and notable accolades since its 2015 opening from AAA, Condé Nast, Trip Advisor and Food & Wine magazine.

The boutique Hotel Valencia Riverwalk at 150 E. Houston St. completed a $10 million renovation in 2017. New York real-estate firm Safety, Income and Growth Inc. bought the land on which the hotel sits for an undisclosed sum in January.

Joshua Fechter is a San Antonio-based staff writer covering real estate, economic development and philanthropy. Read him on our free site, mySA.com, and on our subscriber site, ExpressNews.com. | jfechter@express-news.net | Twitter: @JFreports