The owners of the La Villita Assembly Hall, a circular building on the corner of Villita and Presa streets, plan to turn the space into a food hall, according to a press release.
San Antonio private equity firm Escalera Capital bought the property in March 2024 with a plan to turn the building into a “dynamic food and beverage hub” by 2027.
Now, Escalera Capital is announcing a more specific plan — to create a food hall — in partnership with Onset Hospitality.
The La Villita Assembly Hall opened in 1958, according to the press release, and it hosts events throughout the year, including the Night in Old San Antonio (NIOSA) during Fiesta San Antonio.
NIOSA uses the building for some of its programs, including the sauerkraut bend, and Fiesta organizers say they are excited by the renovations.
“We are so supportive of Escalera Capital’s newest restoration plans for the La Villita Assembly building,” said Julie Terrill, NIOSA’s 2026 chair, in a statement.
Terrill said NIOSA has had a long and treasured history with the building, but may need to find venues for some of its Fiesta events.
Fiesta events are scheduled to run from April 16 to 26.
“We are very confident and have a great relationship,” Terrill said. “They are working with NIOSA. If we cannot use the assembly building, we will be sure that the sauerkraut bend has a home elsewhere on the NIOSA grounds.”
La Villita tenants have struggled with surrounding construction over the past year and has added events to bring in customers.
Onset Hospitality has worked on restaurants and food halls in New York City, Baltimore, Montreal and Washington, D.C.
“Visitors can expect a diverse collection of chef-driven vendors, multiple bars and a robust lineup of cultural programming, all reflecting the authentic, diverse and dynamic spirit of San Antonio,” read the press release.
Escalera Capital brought the building from another private equity group, GrayStreet Capital, in March 2024, and real estate firm JLL announced its plans to help lease the property. GrayStreet had bought the La Villita building from CPS Energy in 2023.
The La Villita Assembly Building was formerly owned by CPS Energy and was sold to GrayStreet Partners. It’s now owned by Escalera Capital, which has announced plans to turn the venue into a food hall. Credit: Scott Ball / San Antonio Report
Escalera Capital was cofounded by Bobby Magee and Charles Leddy. Leddy is also involved in a plan to build a ferris wheel at St. Paul’s Square. He leads hotel company Presidian Hospitality.
The company’s statement noted other planned developments in downtown San Antonio, including Project Marvel and its proposed basketball arena for the San Antonio Spurs, played a role in its decision to create a food hall.
“As downtown San Antonio undergoes a remarkable renaissance with more than $3.3 billion in public and private investment in housing, infrastructure, and sports venues, the Assembly Hall is set to embark on its most exciting chapter yet.”