The grid facade at 5307 Broadway has been staring at traffic since 1965, back when the building housed a working clinic instead of a plywood-covered storefront. Nix Health ran the space until 2019, when its parent company, Prospect Medical Holdings, pulled out of the San Antonio market and cited declining demand. Since then it has sat there empty, one of the more visible gaps on a stretch of Broadway that runs from Alamo Heights down toward River North, the kind of building you register out of the corner of your eye every time you pass it without quite registering why it never changes.
It is changing now. Filings with the Texas Department of Licensing and Regulation show renovations were set to begin in February 2026, with a planned completion in November 2026. What comes out the other side will not be a clinic. It will be two restaurants: an East Coast-inspired oyster and martini bar with American cuisine for lunch and dinner, and a New Orleans-style chophouse built around prime steaks, Gulf seafood and classic cocktails. Neither has been named publicly yet, but the shell they are moving into already has a shape.
What's actually going into the old clinic
The developer behind the project, San Antonio-based Ridgemont Properties, describes it as an adaptive reuse that returns the building to its retail origins. That includes reopening the building's historic breezeway and adding a landscaped central atrium, while keeping the distinctive grid pattern on the front facade that has made the building recognizable even while it sat dark. The ground floor is being built for two active restaurant tenants. The second floor is office space: suites ranging from 1,086 to 2,783 square feet, plus a single 6,870-square-foot private space with meeting rooms, a lounge and a hospitality-style kitchen that includes a cold brew tap and a coffee maker.
Ridgemont's own description of the strategy is direct. Vice President Trebes Sasser Jr. told the San Antonio Business Journal the plan is to activate the ground floor with food and beverage tenants while converting the second floor into smaller office spaces, and that the goal extends past this one address.
"This project will serve as a catalyst for not just this asset, but also casts a vision for other property owners along the corridor."
That is a specific bet about what one filled building can do to the buildings around it, not just a description of what is happening inside this one.
The city didn't wait to see if the market would do it alone
What makes 5307 Broadway worth watching is not just the two restaurants. It is that Alamo Heights City Council unanimously approved an incentive package worth up to $2 million to get this specific building moving, structured under Chapter 380 of the Texas Local Government Code. The terms: a 100 percent property tax rebate for 10 years, and a 75 percent sales tax rebate for 15 years. In exchange, Ridgemont is required to invest at least $9 million in planning and construction, and the agreement stipulates that one restaurant must be operational by the end of 2027.
Read plainly, a small municipality with a limited tax base agreed to collect close to nothing in new property tax off this parcel for a decade, and to give up three-quarters of the sales tax it would otherwise take in for fifteen years, in exchange for two restaurants opening on a block that had been producing no restaurant activity at all. Alamo Heights did not wait to see if a developer would eventually find a tenant for a 60-year-old former clinic on its own timeline. It paid to move that timeline up.
The gap between the two dates attached to this project says something about how uncertain even a subsidized bet still is:
| Milestone | Date |
|---|---|
| Renovation start (per TDLR filing) | February 2026 |
| Planned renovation completion | November 2026 |
| Contractual deadline for one restaurant to be operational | End of 2027 |
A finished shell by late 2026 and a contractual deadline more than a year later is not a scheduling error. It is the buffer Ridgemont and the city both priced in for build-out, kitchen equipment, staffing and liquor licensing, the parts of opening a restaurant that a construction schedule cannot promise on its own. If you are watching for the actual doors to open, the safer date to hold onto is the one in the contract, not the one on the permit.
This isn't Ridgemont's first swing at this exact corridor
Ridgemont Properties has been a family-owned investment company since 1984, and Broadway is not new territory for it. The firm already owns and has repositioned buildings along the corridor between Alamo Heights and River North, six in total, and its past conversions include the buildings now occupied by Osaka Japanese Steak & Sushi Bar and Capparelli's on Main. Ridgemont is also the developer credited with bringing a Starbucks location to Broadway. Sasser has said the corridor has suffered from limited commercial investment in recent years, which is a specific way of saying that the vacancy at 5307 Broadway was not an isolated case, it was one visible example of a pattern the same landlord has been working against building by building.
That context changes what the 5307 Broadway project actually is. It is not a single developer's one-time reuse of a dead clinic. It is the latest entry in a run of conversions from a firm that already has three named businesses on this stretch of Broadway to point to as proof the model works, now backed by the largest public incentive of the group.
The Sunday proof already exists four blocks away
None of this is happening in a commercial vacuum. A few blocks up Broadway, the Alamo Heights Farmers Market runs every Sunday, rain or shine, in the parking lot near the Whole Foods at Alamo Quarry Market. It operates as a producer-only market, meaning the people at the tables are the ones who grew or made what they're selling, and it has run on that same weekly schedule year-round, not seasonally.
That market already answers a question a city council might otherwise have to guess at: does foot traffic show up on this corridor when there is something worth showing up for. The market proves it does, at least on Sunday mornings. The tax rebate on 5307 Broadway is a bet that the same appetite can be captured on a Tuesday night too, permanently, in a building that spent seven years being nothing at all. This stretch of Broadway sits inside the Uptown Inside 410 footprint, and the two projects, one running every week already and one still under a tarp, are pointed at the same block for a reason.
The contract gives Ridgemont until the end of 2027 to prove that bet out. Everyone driving past the grid facade between now and then gets to watch the answer arrive in real time.
If you're trying to make sense of how projects like this move commercial value along a corridor you already live near, the Abrahams Real Estate TIES Team tracks this stretch of Broadway closely and is glad to talk through what it means for the blocks around it.
