Posted Mar 13, 2025, 1:23 PM
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Join Date: Feb 2023
Location: San Antonio, TX
Posts: 47
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Tower Life's office-to-apartment conversion begins
By: James McCandless – Reporter, San Antonio Business Journal
Quote:
A high-profile development three years in the making has begun.
The effort to convert the Tower Life office building at 310 S. Saint Mary's St. has started, the group behind the project announced Tuesday. The team will transform the 31-story tower into a 243-unit mixed-income apartment community, with retail opportunities on the ground floor and River Walk level.
McCombs Enterprises, Ed Cross and Jon Wiegand purchased the property from the Zachry family. The group struck a PFC deal with Bexar County later that year. Wisconsin-based J. Jeffers & Co. — a development firm specializing in adaptive reuse — joined the ownership team in 2023.
Cross confirmed the timeline to the Business Journal earlier this month. In a press release, McCombs Enterprises Executive Vice President Joseph Shields called the project "a catalytic investment" for the urban core. “My grandfather, Red McCombs, always told us to ‘think big and make a difference.’ This is our aim for Tower Life,” he said.
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The building was approved by the Historic and Design Review Commission for the city's historic tax certification last year, meaning it would not be subject to ad valorem taxes for five years after the renovations finish. After that term, the property would be reappraised and be taxed at 50% of its market value every five years. In a presentation to the panel at the time, an architect indicated the redevelopment would span 20 months.
Wiegand said Tower Life's conversion is a shot in the arm for downtown.
"Tower Life represents an opportunity to reshape downtown San Antonio in a way that honors its history and embraces its future," Wiegand said. "We are committed to creating a place that inspires pride and invites new energy into the heart of our city."
The office building opened in 1929, designed by local architects Ayres & Ayres.
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