53º Join Insider Sign In NEWS WEATHER SPORTS CORONAVIRUS KSAT TV SA LIVE ENTERTAINMENT FEATURES NEWSLETTERS A special weather statement in effect for 3 regions in the area See the complete list WEATHER ALERT HIDE LOCAL NEWS San Antonio Business Journal Published: November 18, 2021 8:56 am Tags: Sabj, Texas, Business, Balcones Heights Sign up for our Newsletters LATEST NEWS 7 HOURS AGO Search underway for driver who hit man with vehicle on East Side, SAPD says 5 HOURS AGO Homeowner devastated after newly-renovated home on West Side destroyed in overnight fire 9 HOURS AGO 11-year-old girl shot, killed by father during hunting accident in East Texas, deputies say 11 HOURS AGO Santa Paws: Pet Gift-Giving Do’s and Don’ts KSAT DEALS Get last minute Black Friday Deals on these 5 unique gifts under $50 5 of the best holiday gifts for the home with Black Friday discounts Balcones Heights to acquire major stake in Wonderland mall The city has been in negotiations with mall owners for several months The Wonderland of the Americas mall will help bring in money for the City of Balcones Heights after the city gave the green light to purchase 47% of the property. The city expects to relocate some city services to the second floor of the mall. Leaders are still deciding which services will move to the mall. The city says it predicts the deal will bring in $350,000 a year. The hope is it could mitigate a rise in property taxes. Editor’s note: This story was published through a partnership between KSAT and the San Antonio Business Journal. The Balcones Heights City Council has approved a deal to secure a nearly 46% ownership stake in the Wonderland of the Americas mall. The $5 million transaction will give the city greater control over the mall and its 30-acre site. “I’m very proud of our council, to have the vision to understand how serious this is and what a good opportunity it is,” Balcones Heights Mayor Suzanne de Leon told the Business Journal after the unanimous City Council vote. The approval comes roughly seven months after Balcones Heights entered into a memorandum of understanding with mall investors to explore partial ownership. Last spring, de Leon said she wanted to see a more expanded mix of tenants at Wonderland, potentially including a regional restaurant row and residential space. She said stakeholders could draw inspiration from places like Pearl, incorporating destination businesses to draw more visitors to the area. The Balcones Heights Economic Development Corp., which has negotiated with mall investors, made its recommendation for a purchase to City Council members on Nov. 15. Wonderland spans more than 740,000 square feet on a site bordered by Interstate 10, Loop 410 and Fredericksburg Road. Click here to read the full story in the San Antonio Business Journal. Also on KSAT: Balcones Heights seeks to improve pedestrian safety Boerne leaders eye downtown incubator to expand economy Castroville families rally to save its downtown Copyright 2021 by KSAT - All rights reserved. Closed Captioning Contests and Rules KSAT Internships Email Newsletters Subscribe to KSAT RSS Feeds Contact Us Careers at KSAT Terms of Use Privacy Policy Public File FCC Applications Do Not Sell My Info FOLLOW US facebook twitter instagram youtube rss GET RESULTS WITH OMNE If you need help with the Public File, call 210-351-1241. Copyright © 2021 KSAT.com is managed by Graham Digital and pubished by Graham Media Group, a division of Graham Holdings.