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It's been my experience that most projects that stay active and are serious about getting built actually end up getting built larger and grander than originally stated. The only ones in Austin that were scaled back in size and height had been on hold for a time and then started up again, though, not always in the same form. Almost every other project that kept inching along and stayed active ended up being bigger than what was initially announced. Back in like 1997 there was an office tower planned in downtown that was announced as a 352 foot building with 27 floors. It was a decent design, but not exactly groundbreaking or skyline changing. That building never happened in that form, but ended up becoming larger. It's name was Congress at Fourth before Frost Bank became the lead tenant which gave it naming rights to the tower. I've learned to be patient and not believe everything I hear or get my hopes up. Weston and Frost Bank definitely have the ability to get this tower built, and Frost Bank does need the increased space.
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Not to forget Hemisfair, San Pedro Creek and the potential Tesla gigafactory.
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Downtown is still a hard sell to companies of all kinds. They prefer to locate close to where their employees live (or will live if coming from out of town). That's the suburbs still. At least when Oracle came to town they chose a spot along 410 instead of along 1604. Small victories. But to your point, the new Frost tower could be the catalyst that changes everything. When it opens in 4 years, the residential density around downtown will be much higher and some of those companies at Geekdom might be getting big enough to want out of the Rand. Any new office space downtown will most likely need to be filled with younger startups or expanding local companies. So encourage your entrepreneurial friends! My guess is that Weston wants to build an Innovation District around Geekdom. |
Like those gifs, SirKingWilliam.
I know the talk on these forums is of CPS Energy either building an new headquarters, or having someone else build it and them leasing, but I'm wondering: how likely is it they move into the old Frost tower? I would rather see some new construction. Also, any ideas on what is to become of the current CPS hq? I think one of those buildings has historical significance. Any chance the main building, (with the garage), is demolished to make room for new construction? Not sure what could be done with it as is. Sorry, forgot that the current Frost Tower will house city employees, which is good news. Pretty much leaves CPS to build a new building, or lease a new building built by someone else. My wife works at CPS, and Beneby is saying the same things there he is saying in public. I thinks he wants something iconic for DT, and for CPS. |
Any new development?
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Not yet...anxiously awaiting the next update(s).
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Primera Makes Bid Vs. Weston Urban/Frost Bank
http://therivardreport.com/weston-ur...st-bank-tower/
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Primera is probably looking to dump Riverview Tower. The City takes up about 30% of the leased space in Riverview Tower, if Primera loses the City as a tenant it will be a major hit. Then add on top of that Class-A office space being built a couple of blocks away... I would love to see what Primera plan for Municiple Plaza and Metro health are. They have not been a major player in Downtown Development. I just don't see them doing anything exciting. You can check out all of their exciting available space here: http://cdx.xceligent.com/CDXDirect/Clients/Frames/ListingsViewFrame.aspx?FullId=3243_15129&GENUSE=5 Look at the comparisons: Riverview Tower - 248,000 sq feet, 0 parking spaces Frost Bank Tower - ~400,000 sq feet, 732 parking spaces I would bet that it gets rejected by the committee. |
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I agree with you that it looks like downtown is now the target. |
Aggghhhh!!! Beat me to it.
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The article also states that this is the first instance of the P3 process being used, so it will be interesting to see how that works too. If it does receive committee approval, the next step will include financial analysis, a building appraisal and other due diligence that could take up to 30 days. |
Yeah, my first thought was that they were trying to unload Riverview Tower.
I could see this last minute proposal delaying or even altering the project. I wouldn't be surprised to see this being approved and forcing the city to publicly choose whether to move into the Frost tower or consolidate into the Riverview tower. I'm guessing the Weston proposal is more attractive in many ways (including being a catalyst of sorts for that part of downtown), but in terms of city spending who knows? This new proposal could make it tricky as to how the city proceeds. Parking is a big deal and that is the advantage of a Frost move. |
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I can't imagine that the Primera Proposal will be accepted. However, if it is accepted, I will be intrigued. That would mean that they have proposed something that at least comes close to what Weston Urban has. I wouldn't hold my breath, they aren't the sexiest property management company. There are so many factors to consider: - Frost is not part of the Primera deal; if city chooses Primera what happens with Frost Bank? - What will come of other city properties if COSA moved into Riverview? - No Parking! - Additional related developments? As for the Weston Urban proposal: - Is the Frost bank Building too big for COSA? - Room to grow! - Financials? The Municipal Plaza building is a mess and Metro Health is even worse. Getting rid of those facilities as well as other leased space in downtown and around San Antonio would be huge for the city. It is hard to imagine that Primera can offer even a fraction of what the Weston Urban proposal does/says. We will know soon how good the Primera Proposal is; simply by whether or not the committee accepts the proposal along with Weston Urban's. |
Yeah, "delay" was probably the wrong word
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*Sigh* You do learn patience living here. :cool: |
Little bit more has come out
http://therivardreport.com/primera-o...ew-tower-city/
Primera Properties has made an 11th hour offer to sell its 20-story Riverview Towers building at 111 Soledad St. to the City of San Antonio, barely beating the close of a 60-day period to respond to the Weston Urban/Frost Bank public-private proposal.Looks like you guys nailed it. They seem to be looking to get out of the Riverveiw building.:runaway: |
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^The Pinnacle is pretty sharp!
So, what's the run down of the new Frost Bank tower...currently? (I'll read back through the last few pages if I have the time) I'm assuming the proposal still consists of commercial and residential space? Was Frost ever ready to move the dirt or were they blowing smoke/testing the water in regards to the commercial and residential markets downtown? |
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Not sure I understand your Frost question though. |
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As far as the Frost question, I was just asking whether or not they were ready for construction of the residential units, or if they were proposing them to gauge the interest of other developers, but I guess Frost will finance the entire (residential) project themselves. |
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Frost isn't in.the development business. Graham Weston's development company is behind this deal and will build the office tower and the residential buildings. |
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