[KevinFromTexas]

http://www.mysanantonio.com/news/loc...wn-5582065.php

Complex deal would result in new downtown
skyscraperBY JOSH BAUGH : JUNE 26, 2014 : Updated: June 26, 2014 5:41pm

SAN ANTONIO — Mayor Julián Castro and officials from Frost Bank and the Weston Urban development firm unveiled Thursday afternoon a proposal that would, for the first time in a quarter century, bring a new office high-rise to San Antonio's skyline.

At an afternoon press conference, the officials outlined the structure of a proposed public-private partnership that would result in several property exchanges, including the city taking control of the Frost Bank tower at 100 W. Houston St., and the construction of a new “iconic” office tower for the bank. Weston Urban would also develop more than 300 residential units in downtown.

Under the proposal, the city would convey five downtown properties to Weston Urban, Graham Weston's development company, and take ownership of the Frost tower, which is a stone's throw away from City Hall.

Weston Urban would construct a new skyscraper near the Frost tower, on the city block between West Travis Street, Camaron, East Houston Street and North Flores. Frost would be the anchor tenant in the high-rise, consuming some 250,000 of the 400,000 total square feet.

http://www.bizjournals.com/sanantoni...-downtown.html

Jun 26, 2014, 2:46pm CDT UPDATED: Jun 27, 2014, 9:45am CDT
Frost, Weston Urban propose major downtown development deal

W. Scott Bailey
Reporter/Project Coordinator-
San Antonio Business Journal

The City of San Antonio has received an unsolicited proposal from Frost Bank and Graham Weston's real estate firm Weston Urban LLC that, if approved, would dramatically alter the downtown landscape.

Weston and Frost are asking the city to convey to them five downtown properties, including the Municipal Plaza building, the Continental Hotel building, San Fernando Gym and two parcels of real estate.

In exchange for those buildings, Frost would convey to the city its existing office tower at 11 W. Houston Street and an attached parking garage.

As part of the deal, Weston Urban would agree to build Frost a new headquarters building at the northwest corner of Flores and Houston streets.