Local experts say the building’s size, age and maintenance costs could be what’s keeping buyers away.

CORPUS CHRISTI, Texas — The foreclosure auction for One Shoreline Plaza, the twin towers that have defined the Corpus Christi skyline for decades,  ended Tuesday morning with no bids. 

The towers, built in the 1980s, have faced mounting financial struggles in recent years. The failed auction leaves their future uncertain.

“I’ve seen proposals from architects who are thinking of transforming one portion of it to residential and one portion of it to office, but it’s really gonna need the right vision,” said Will Storbeck, a commercial real estate agent with Keller Williams. “But I certainly think it would be more cost effective to keep the existing structure there rather than tear it down — and keep that part of Corpus Christi history too would be great to see.”

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Local real estate experts say the building’s size and age could be what’s keeping buyers away.

“Say you can afford to buy the building,” said Matthew Cravey, owner and president of Cravey Real Estate Services. “Now you’ve got to worry about not running into the same problems that subsequent owners had as finding tenants and then fixing all the problems that the building has. It’s got a lot of issues. It was built back in the 80s, and things will wear out.”

Cravey, who once managed leasing at One Shoreline Plaza, said there are still potential buyers, but only at the right price.

“I’ve got a group of buyers that are ready to buy the building for the right price, once they know what they’re buying,” he said. “But they’re willing to take a chance on the building. I mean, it’s one thing that it has going for it over any office — it’s got location, and it’s an iconic design.”

James Magill, vice president at DH Realty Partners and a member of the Nueces County Appraisal District board, believes redeveloping the property could have a major ripple effect downtown.

“A development of this size in the location that it’s in downtown Corpus Christi could truly spur a catalytic impact not only for the downtown but the region,” Magill said. “By inviting other developers and investors to come to Corpus Christi — seeing that we had a major success here — and that’s something I hope we can get behind as a city.”

For now, One Shoreline Plaza remains unsold, making it a microcosm of both the challenges and opportunities in the heart of Corpus Christi’s downtown.