Good catch, I never noticed that. Here's two brief mentions I found on Google, and on the S.A. parks page I could see it was acquired in 2003 but nothing's been done with it. My guess is it was purchased almost as a city greenbelt, not intended for use but to prevent development? I really have no idea.
Brief mention of it as a natural area by Helotes Park Terrace/Park at French Creek:
http://www.ci.sat.tx.us/planning/pdf...0for%20Web.pdf
"Los Reyes Canyon is a single-family gated subdivision with 204 platted lots and private streets located immediately northwest and adjacent to Helotes with Iron Horse Canyon Park directly to the southwest."
CITY OF SAN ANTONIO PLANNING DEPARTMENT CITY COUNCIL AGENDA MEMORANDUM