Office tower on the horizon for San Antonio skyline

SAN ANTONIO – The City Council approved the Frost Bank Tower deal, an agreement between the city, Weston Urban and Frost that will result in downtown’s first office tower in more than 25 years.

The City of San Antonio’s investment is more than $80 million.

Weston Urban will build a $142 million, 400,000-sf office tower on Frost’s motor bank and parking lot diagonally across from its current headquarters. The new building will serve as Frost’s new headquarters.

Frost will occupy 250,000 sf of the building, leaving the rest available for rent.

Weston Urban will also build at least 265 residential units on properties it will acquire from the city and Frost.

These properties will include the Municipal Plaza Building, 114 W. Commerce St.; the San Fernando gym, 319 W. Travis St.; and a parking lot at 403 N. Flores St.

From Frost, Weston Urban will acquire two additional parking lots in the area and the tree-lined greensward in front of Frost’s current headquarters.

For $51 million, the city will purchase the current Frost Bank headquarters at 100 W. Houston St. The city then will spend another $31 million to upgrade the building.

Read more at the San Antonio Express-News.

tag: San Antonio Market Research (office, industrial, retail, multifamily); San Antonio NewsTalk office