Capping months of speculation, the new owners San Antonio’s Tower Life Building have unveiled their plans for the iconic downtown landmark, including mixed-income housing and a River Walk-level restaurant, according to media reports.
The 93-year-old building’s owners — an investment group including Jon Wiegand of Alamo Capital Partners, local developer Ed Cross and the McCombs family — plan to start work transforming the structure in 2024, according to KSAT.
The group, which purchased the building from the Zachary family in May, see its future as a mixed-use development. It remained nearly half empty for much of the past decade, when it was marketed strictly as an office property, the Express-News reports.
Other than a new restaurant, the renovated Tower Life building will feature 234 apartments, including a “good number” of affordable units, Wiegand told the Express-News. Those affordable units are part of a partnership struck with Bexar County in December.
The first apartments are expected to go on the market in 2026, according to the report.
Weigand told the daily that preserving the tower’s historic facade is a priority once renovations get underway.
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This article appears in Dec 28, 2022 – Jan 10, 2023.
