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Fri Mar 31, 2017, 04:33 AM

$142M Frost Tower breaks ground in San Antonio, raising expectations downtown

City and county officials gathered downtown Wednesday to celebrate the official kick off of construction for the new Frost Tower, a $142 million state-of-the-art office building described as a pivotal project in the long effort to revitalize downtown.

The 460,000 square-foot office building, which will serve as a new headquarters for Frost Bank, is the first new office tower to go up downtown since the Weston Centre in 1989. It’s being built by local developer Weston Urban as part of an intricate deal with the city and Frost Bank that’s designed to rejuvenate west downtown, an area burdened with too many run-down buildings and parking lots. Construction is expected to take about two years, said Weston Urban President Randy Smith.

Mayor Ivy Taylor said the 23-story tower is a “significant step forward” for downtown. It was designed by renowned international architecture firm Pelli Clarke Pelli and local firm Alamo Architects, and it will boost downtown’s supply of upscale office space by 31 percent, from its current level of 1.4 million square feet, according to data from Transwestern, a commercial real estate firm.

“You all have heard me talk about my vision of San Antonio being a globally competitive city with opportunity for everyone,” Taylor said. “That means we have to support growing businesses, expand job opportunities and make our urban core a strong and attractive destination. This project does all of that.”

Read more: http://www.mysanantonio.com/real-estate/article/142M-Frost-Tower-breaks-ground-raising-11037411.php

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