Tall & Urban News

The city’s estimated price tag for buying and transforming Frost Bank’s old headquarters in downtown San Antonio into offices for employees has swelled to just over US$140 million, an increase of 52 percent.

Officials now anticipate spending US$88.1 million on renovations, up from the US$41.5 million estimate stemming from a 2015 deal involving the city, the bank and local developer Weston Urban.

The total budget for moving 1,400 employees and 24 departments into the building at Houston and Flores streets now stands at US$140.99 million, up from the US$92.5 million estimated in 2015. The cost of acquiring the building also has risen, by nearly US$2 million to US$52.9 million.

Before joining the Express-News, Madison covered retail, small businesses and other topics at the Albany Times Union and worked on a project about Social Security disability benefits. She also worked as a general assignment reporter at the Raleigh News & Observer and wrote a two-part series about the state’s farm workers.

For more on this story, go to San Antonio Express News.