A quote from former San Antonio Mayor Henry Cisneros is displayed on one of a series of billboard honoring the late Red MCombs.When the self-made billionaire businessman and philanthropist B.J. “Red” McCombs died Feb. 19 at age 95, his family started planning a small, private funeral.
The Northwest Texas native and son of an auto mechanic kept tabs on the company he built from the ground up even after giving control to his three daughters in 2002. In an office building near Monte Vista where McCombs’ priceless collections and memorabilia remain on display, his office chair is vacant. But his likeness and memorable sayings are everywhere.
The company has plans to build from the ground-up three new dealerships, two selling Hyundai models at West Loop 410 and Callaghan Road, another at Interstate 10 West near UTSA Boulevard, and a Genesis store near Fair Oaks. While a small herd remains on the family’s ranch north of Johnson City, the company held a dispersal sale in May in order to exit that line of business.
The tallest structure in San Antonio when it was constructed in 1929, the distinctive building has eight sides and a green-glazed roof. After McCombs died, a red flag with the “RM” emblem was hoisted to the top of the tower that“We wanted to be the ones that helped to steward it into its next 100 years,” he said.Credit:The cost to redevelop an old building that meets modern-day needs and standards “is going to be quite a hefty price tag,” Joe Shields said.
In May, the state passed legislation to make the property a municipal management district, which will allow the private company to direct tax revenue toward the redevelopment of the site.