The 14-acre site overlooking the crossing of Loop 410 and Interstate 10 was acquired to consolidate worksite operations. Facing a cash crunch, the utility is dumping it.
Riders enjoy the go-karts at Malibu Grand Prix & Castle amusement park in August 2015, about a month before it closed. The land that held the park has been put up for sale by CPS Energy.
In February, it wrapped up disposal of those properties with the sale of the historic, UFO-shaped Villita Assembly Building, known for hosting Fiesta events, to a partnership linked with the downtown developer GrayStreet Partners for $5.3 million. In January, CPS had sold another of the seven – a 5.9-acre plot along the River Walk, next to the San Antonio Museum of Art –.
Winter Storm Uri in February 2021 also put the utility in financial straits by leading it to pay astronomical prices for scarce electricity and natural gas to keep the heat on in customers' homes. CPS’ financial condition was a point of debate at the meeting after the board considered the results of an internal review of the utility’s performance in fiscal year 2023. The utility failed to achieve several of its performance metrics, the review concluded, including with regards to its debt levels and the amount of cash it has available.
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