November 8, 2016 Comments Off on San Antonio Takes Steps to buy Frost Tower Views: 185 San Antonio, Texas News

San Antonio Takes Steps to buy Frost Tower

The San Antonio City Council voted unanimously to start the process of issuing $52 million of debt to acquire the Frost Bank Tower at 100 W. Houston. The plan is to turn the building in west downtown into a new central administrative building.

The deal between Frost Bank, downtown developer Weston Urban and the city was struck last year. In addition to renovating the banking tower into city offices, the agreement will also provide new, state-of-the-art headquarters for Frost Bank.

The city council’s recent actions mean the city can notify financial institutions that it will issue the debt, so they can bid on it. The council will decide on which bids to accept on Dec. 8.

Read More at San Antonio News Express

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