The San Antonio Conservation Society could be key to breathing new life into a major rehab project near downtown.

Mark Tolley, CEO of Austin-based B. Knightly Development, is in negotiations with the San Antonio Conservation Society to obtain a historic facade easement for his latest project: The redevelopment of the former Lone Star Brewery.

Tolley's plan includes bringing to the site a mix of for-sale multifamily units, restaurants, a health club, as well as the rehab of the 250,000-gallon pool at the site. The project spans 23 acres at Probandt and Lone Star Boulevard, near the King William Historic District.

Facade easements help to ensure that the facade of a historic structure is maintained, protected and preserved. For its work on that end, B. Knightly will be eligible for federal tax deductions.

source: http://sanantonio.bizjournals.com/sanantonio/stories/2008/11/10/newscolumn1.html