Hemisfair’s Newest Project “550 Market Street” receives HDRC Design Approval
Retail, food and beverage, and additional parking planned for the space
The City of San Antonio Historic and Design Review Commission (HDRC) has approved the design for 550 Market Street, the first phase of mixed-use development on the Market Street parcel within the Hemisfair District, located north of Civic Park. Delivered through a public-private partnership (P3) between Graystreet Partners and the Hemisfair Park Area Redevelopment Corporation (HPARC), the project will include food and beverage plus retail options, a benefit for locals and visitors alike.
The project supports Hemisfair’s ongoing redevelopment and the Hemisfair Master Plan’s vision for a vibrant, connected urban district. Graystreet Partners is the owner and developer of the project, supported by Reverie Concepts on development and project management, with architectural design by Gómez Vázquez International.
The street-level design of 550 Market Street allows for uninterrupted pedestrian flow along Market Street, maintaining clear and continuous movement through one of downtown’s key corridors. The design takes inspiration from key buildings that have shaped the architecture of downtown, including the original portion of the San Antonio Convention Center (now Henry B. Gonzalez Convention Center) and Lila Cockrell Theatre, two structures built for HemisFair ‘68, and the Hipolito Garcia Federal Building located near the Alamo. The design reinterprets the exterior of the historic convention center through the use of masonry columnades, metal crowning elements, and patterned brick cladding, used in a modern design suited to the surrounding streets and buildings.
550 Market Street includes two floors of food, beverage and retail space, with direct ground-level access to Market Street and Civic Park. This development is designed to complement the district’s newly constructed Monarch Hotel and nearby free events and programming in Civic Park, further strengthening the relationship between indoor retail spaces and public space through transparency, access and street-level activation.
“550 Market Street moves the Hemisfair District forward by providing key connections between Market Street, Civic Park, and the River Walk,” said Melissa Robinson, Interim CEO of HPARC. “The design supports connection from downtown to Civic Park, prioritizes the pedestrian, provides new retail and dining options, and adds parking in a way that fits the district and supports its continued growth.”
At the river level, public access is maintained near the HemisFair ’68 expansion of the San Antonio River Walk, preserving a connection to the site’s history while maintaining an important pedestrian route. Outdoor terraces above the ground floor provide additional gathering space and overlook surrounding public areas.
In addition to retail and public space connections, the project will deliver about 300 parking spaces located beneath the building, providing added parking capacity in the downtown core. By placing parking below grade, the development supports access to the Hemisfair District and neighboring destinations while preserving an active, walkable streetscape along Market Street.
With approval in place, the project moves forward as the first phase of development on the Market Street parcel, building on the area’s historical role as a place of connection. The project reinforces Market Street as a link between the Hemisfair District and downtown while establishing a framework for future development.
