No. There just hasn't been any new development. Patience must be exercised.
|
The City is doing its due diligence. Environmental assessments, cost assessments, etc. From everything that I hear it is inevitable that the City will accept the proposal.
This deal is going to cost the city a lot of money. Sure it will save money over time, but there will be an upfront cost, and it will most likely be large. As a City this is not something that can be jumped right into. I wonder if any of the up-in-coming annexations, and aggressiveness of them plays into this at all. The bottom line, is that it is too good of a deal for the city to pass up, - get out of costly leases - acquire much needed space to accommodate growth - acquire a revenue producing parking garage - Consolidate departments --> increased productivity - Sell properties that are costly to maintain and staff - New development for the downtown area - and many more smaller benefits. but they need to have everything in order for when they go public. Patience +1 There are a lot of other things that might be involved on the city side. A move into Frost bank might include the move of the IT Data Center from Frio. The current building shares a back wall with the SAPD Central Substation. There have talks of replace that structure for over a decade. The Frio building is a disaster, so the City might be looking at a plan to solve that issue as part of any deal with Weston/Urban. I don't mean that it would be actually part of the deal, but that the city would have to account for that in working out a deal with Weston/Urban. |
Exploring San Antonio's Exploding Urban Core
Quote:
|
Update on this project
I saw this article as well. I think this reads very promising. And if I'm not mistaken, the original timeline read that in April/May and announcement would be made regarding the proposal. And this is what this article says, so they have stuck to their original timeline. IMO, this update is excellent news. Everybody wants this!
:cheers: |
City Approves Landmark Weston Urban/Frost Bank Deal http://therivardreport.com/city-appr...ost-bank-deal/
|
Such awesome news! Renderings should be coming soon. I can't believe we are getting a new office building so quickly. It's still kind of shocking.
|
City Leaders Announce Deal with Frost and Weston Urban that Will Result in New Tower Downtown
SAN ANTONIO (April 27, 2015) – Mayor Ivy R. Taylor, Dick Evans of Frost and Graham Weston of Weston Urban announced today that the City, Weston Urban and Frost have negotiated a deal that will result in a consolidated office tower for City operations, facilitate the development of 265 new housing units in the Central Business District and forever alter San Antonio’s skyline with the construction of the first new office tower downtown since 1989. The new tower will house the headquarters for Frost Bank. In June 2014, the City of San Antonio received an unsolicited proposal under the Public Private Partnership Guidelines from Weston Urban and Frost that would consolidate City offices and catalyze housing, office and retail development in the city’s core. In accordance with the guidelines and at the invitation of the City, Weston Urban and Frost submitted a more detailed proposal in August 2014. “As mayor, I couldn’t be more thrilled about this Public Private Partnership with Weston Urban and Frost,” Mayor Taylor said. “In addition to providing valuable downtown housing, it will enable the City to consolidate operations into City-owned buildings downtown. The economic impact is huge – in addition to the new tower and housing, it will provide much needed retail opportunities along our two major retail corridors, West Commerce and Houston streets.” “This transaction will centralize approximately 1,400 employees into three City-owned buildings,” City Manager Sheryl Sculley said. “Currently, the City of San Antonio leases office space in four buildings in the downtown area, costing the City $3.5 million annually. This transaction will result in a net savings to the City’s budget. Additionally, it will provide more housing in the core of our downtown and facilitate the construction of the first tower in 26 years.” The City will sell the Municipal Plaza Building at 114 West Commerce and properties at 319 West Travis and 403 North Flores to Weston Urban. These properties along with the properties that Frost will sell to Weston Urban will facilitate the creation of 265 new housing units downtown. Frost will sell the Frost Bank Tower and 732 space parking garage to the City of San Antonio. Weston Urban will construct a new 400,000 square foot office tower to serve as Frost Bank’s headquarters, with Frost as the named tenant, on the Frost Motor Bank and surface parking lot at the corner of Flores and Houston streets. “Frost has been an integral part of downtown San Antonio since our company first opened its doors on Main Plaza nearly 150 years ago,” said Evans, Frost chairman and CEO. “As a long-time supporter of downtown initiatives, Frost is committed to the continued growth of San Antonio’s urban core. We are very pleased to see this project moving forward, as it will allow us to maintain our corporate headquarters downtown in an iconic new skyscraper, where we will be the named tenant.” “This project will continue the incredible momentum we are experiencing in downtown San Antonio,” Weston said. “When complete, this will be the first office tower built downtown in three decades. Its proximity to the San Pedro Creek Improvements Project makes it an extremely desirable location. While the tower will forever change our city’s skyline, we’re equally excited about the proposal on the whole and creating unique housing options in the core.” A public hearing on the proposal and comprehensive development agreement is scheduled for 9 a.m. on May 28 in City Council Chambers. City Council will take action on the agreement at the June 4, 2015 City Council |
Quote:
|
Quote:
|
Quote:
|
Quote:
|
New Downtown Skyscraper
Quote:
:cheers: |
Quote:
|
Quote:
|
Quote:
|
Quote:
http://www.emporis.com/buildings/118...antonio-tx-usa |
Quote:
|
Quote:
|
Quote:
|
The initial proposal had diagrams displaying what the heights might be. See below:
http://i222.photobucket.com/albums/d...m.jpg~original http://i222.photobucket.com/albums/d...e.jpg~original I really like that the plan is for retail on the first couple levels of the Parking garage. I hope that sticks. I am not a huge fan of podium garages and this is a large site, but since this might be in the 25-35 range, I will take it to get the extra height. 518 would make it the tallest in the city. That 546 figure for the Marriott is bogus. It is really in the 470-490 range. It will be pretty exciting seeing this project move forward, as well as the other ancillary projects that are part of the plan. |
All times are GMT. The time now is 12:58 AM. |
Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2024, vBulletin Solutions, Inc.