It has an inverted roof and and a colorful past. And now it has a new owner. The distinctive Villita Assembly Building has been bought by GrayStreet Partners. Designed by noted architect O’Neil Ford, the one-story event center is nearly 25,000 square feet in size and features a banquet hall, kitchen and basement, available to rent for private events. GrayStreet plans to upgrade and restore the Villita Assembly Building and keep it as an operating venue.

CPS Energy put the 65-year-old building on the market in 2019 along with several other Downtown San Antonio properties owned by the utility. The sales price was $5.3 million.

The Villita Assembly Building is the last of the CPS Energy-owned properties put up for sale to help cover the cost of its new headquarters at 500 McCullough Ave.