SAN ANTONIO — The Bonham Exchange says it will temporarily close to install a new fire-suppression system, while reassuring patrons the historic downtown nightclub is not going anywhere.

In a statement released Friday, the Bonham Exchange announced it will close at 12:01 a.m. Saturday as crews begin installing a new fire-suppression system throughout the building.

RELATED: City to Bonham Exchange: No extension, Sprinklers or shut doors by Saturday

The announcement comes after the City of San Antonio said earlier this week it denied the nightclub’s request for an extension to its Temporary Certificate of Occupancy, requiring the venue to close while it completes required fire safety upgrades.

We have been working with the City on this project since February,” the Bonham said in its statement. “The final timeline moved faster than we had hoped, and we know this is short notice for our patrons and staff.

The venue said securing financing for a project of this size was challenging, but owners were committed to preserving one of San Antonio’s best-known nightlife destinations.

“The Bonham means too much to us — and to so many across this city — not to do everything we can to protect its future,” the statement said.

While the sprinkler installation is underway, the nightclub plans to complete several additional renovations, including upgrades to its sound system, refinishing the ballroom’s original hardwood floors and making other improvements throughout the building.

Owners also addressed concerns about the club’s future, emphasizing that the closure is temporary.

We want our friends, neighbors, and longtime patrons to hear one thing clearly: the Bonham Exchange is here to stay,” the statement said. “For decades, this has been a place where people come together to dance, celebrate, connect, and make memories.

The Bonham expects construction to take approximately four to five months and plans to reopen later this year at full capacity for both public events and private bookings. The venue said reservations for private events will open soon and that it hopes to celebrate its return with a grand reopening event.

Earlier this week, the City of San Antonio said the Bonham Exchange and Club 727 would have to close after officials denied requests for more time to comply with fire sprinkler requirements.

According to a city memo, officials said closing the venues during construction would allow the required fire protection work to be completed more quickly. The city also said it would expedite permits, inspections and reviews so the businesses can reopen as soon as their sprinkler systems pass inspection.

The Bonham encouraged supporters to follow its social media accounts for construction updates and reopening announcements, thanking patrons, employees and entertainers for their continued support.

“We cannot wait to welcome you back,” the statement concluded.