$142M Frost Tower breaks ground, raising expectations downtown – mySanAntonio.com

Photo: Billy Calzada /San Antonio Express-News

Tom Frost speaks on Wednesday in front of an image of the new Frost Tower.

Tom Frost speaks on Wednesday in front of an image of the new Frost Tower.

Local tech magnate Graham Weston speaks on Wednesday. He co-founded Weston Urban, which is building the new Frost Tower.

Local tech magnate Graham Weston speaks on Wednesday. He co-founded Weston Urban, which is building the new Frost Tower.

City manager Sheryl Sculley speaks during the new Frost Tower groundbreaking. The new tower will be the first high rise office building to be built in downtown San Antonio since 1989.

City manager Sheryl Sculley speaks during the new Frost Tower groundbreaking. The new tower will be the first high rise office building to be built in downtown San Antonio since 1989.

The new Frost Tower will include roughly 440,000 square feet of upscale office space.

The new Frost Tower will include roughly 440,000 square feet of upscale office space.

Construction of the new tower is expected to take about two years.

Construction of the new tower is expected to take about two years.

Click ahead to see if you can name the fundamental buildings of San Antonio's skyline.

Click ahead to see if you can name the fundamental buildings of San Antonio's skyline.

1. Southwestern Bell Building

1. Southwestern Bell Building

The Southwestern Bell building is a 14-story, brick-clad Chicago school skyscraper designed by Irving R. Timlin in 1929-30.

The Southwestern Bell building is a 14-story, brick-clad Chicago school skyscraper designed by Irving R. Timlin in 1929-30.

2. Central Library

2. Central Library

The Central Library, which opened in 1995, features the bold colors and "Mexican Modernist" design characteristic of its architect Ricardo Legorreta of Mexico City.

The Central Library, which opened in 1995, features the bold colors and "Mexican Modernist" design characteristic of its architect Ricardo Legorreta of Mexico City.

3. The Bank of America Plaza

3. The Bank of America Plaza

At 28 stories high, the Bank of America Plaza is the city's sixth tallest building.

At 28 stories high, the Bank of America Plaza is the city's sixth tallest building.

4. Grand Hyatt

4. Grand Hyatt

The Grand Hyatt is the city's second tallest hotel. It's 34 stories high with 1,000 rooms.

The Grand Hyatt is the city's second tallest hotel. It's 34 stories high with 1,000 rooms.

5. Tower of Americas

5. Tower of Americas

6. Nix Medical Center

6. Nix Medical Center

A fixture in downtown San Antonio since the 1930s, the 23-story hospital was the largest and tallest hospital in the country when it was completed.

A fixture in downtown San Antonio since the 1930s, the 23-story hospital was the largest and tallest hospital in the country when it was completed.

7. Weston Centre

7. Weston Centre

San Antonios tallest office building, the Weston Centre is the third tallest skyscraper in the city.

San Antonios tallest office building, the Weston Centre is the third tallest skyscraper in the city.

8. Crowne Plaza

8. Crowne Plaza

Today, the 21-story hotel is the Wyndham San Antonio Riverwalk, the ninth tallest building in San Antonio.

Today, the 21-story hotel is the Wyndham San Antonio Riverwalk, the ninth tallest building in San Antonio.

9. Milam Building

9. Milam Building

10. Drury Plaza Hotel Riverwalk

10. Drury Plaza Hotel Riverwalk

The Art Deco skyscraper was built in 1929 as the Alamo National Bank building.

The Art Deco skyscraper was built in 1929 as the Alamo National Bank building.

11. Tower Life Building

11. Tower Life Building

Originally called the Smith-Young Tower after its builders, the building was downtowns crown jewel when it opened in 1929.

Originally called the Smith-Young Tower after its builders, the building was downtowns crown jewel when it opened in 1929.

12. Frost Bank Tower

12. Frost Bank Tower

At 300 feet and 22 stories, Frost Bank Tower is the citys 11th tallest building.

At 300 feet and 22 stories, Frost Bank Tower is the citys 11th tallest building.

13. San Antonio Marriott Rivercenter

13. San Antonio Marriott Rivercenter

Hidden behind the Bank of America Plaza in this view, the Marriott Rivercenter, S.A.'s tallest hotel, rises 546 feet. Next to the Tower of the Americas, it's the tallest building in the city.

Hidden behind the Bank of America Plaza in this view, the Marriott Rivercenter, S.A.'s tallest hotel, rises 546 feet. Next to the Tower of the Americas, it's the tallest building in the city.

$142M Frost Tower breaks ground, 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. Its being built by local developer Weston Urban as part of an intricate deal with the city and Frost Bank thats 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 downtowns 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.

RELATED: Big changes coming to San Antonio

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.

Construction crews are already laying the groundwork for the tower, which is at the southwest corner of Travis and Flores streets, in downtowns growing tech district. It was approved by the citys Historic and Design Review Commission earlier this month. Frost Bank will occupy 280,000 square feet of the tower, with the rest open to other businesses.

The tower has been in the works since 2013, when former Mayor Julin Castro who attended Wednesdays ceremony was encouraging downtown development with his Decade of Downtown initiative. In 2015, City Council cleared the way for the towers construction when it approved a complicated public-private partnership with Weston Urban and Frost Bank.

As part of the deal, Frost Bank has sold its current headquarters at 100 W. Houston St. to the city, which plans to consolidate its administrative offices there. The city and Frost are selling the site of the tower and another 6.3 acres in west downtown to Weston Urban, giving the developer a broad canvas to remake the area. The properties include the Municipal Plaza Building, where City Council meetings are held.

At Wednesdays ceremony, City Manager Sheryl Sculley said the partnership was a win-win for the city, Frost Bank and Weston Urban, which was co-founded by Graham Weston, who also co-created Geekdom and Rackspace.

RELATED: San Antonio's new River Walk underway

There are no new net costs to the city, and in fact we anticipate savings over time, Sculley said. The transaction will allow the city to reengineer our office needs and create more efficiency within the city government.

The city and county have both provided incentives for the towers construction. Weston Urban is expected to get about $1 million from the city, documents show. The county is contributing about $3.5 million worth of incentives, County Judge Nelson Wolff said on Wednesday.

The county is also leading a $175 million project to revitalize San Pedro Creek, which runs alongside the Frost Tower site, turning it into a decorated walking path similar to the River Walk.

In his remarks on Wednesday, Graham Weston said he was surprised that he has invested so much in downtown real estate. He said he had no interest in buying more land downtown when Castro was encouraging development in the area around 2010.

But Weston said he soon realized that investing in downtown was a good way to achieve his dream of creating a tech community in San Antonio.

How do we do to San Antonio what Dell did to Austin? he said, referring to the computer company that helped jump-start Austins tech scene. How do we put out an invitation to other developers to do the same, other tech companies to do the same? With that idea I really changed my perspective 180 degrees and said, Lets go all-in on downtown.

rwebner@express-news.net

@rwebner

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$142M Frost Tower breaks ground, raising expectations downtown - mySanAntonio.com