As demand for office space slows, developers eye potential for housing in buildings like the historic Tower Life skyscraper in downtown San Antonio.
at 310 S. St. Mary’s St. from descendants of the construction and engineering magnate H.B. Zachry.
Meanwhile, older Class B and C office buildings are “becoming functionally obsolete,” stated a report by the. “Demand for office space is anticipated to grow more slowly post-pandemic than in the past and be more focused on newer stock.” A building like the Tower Life, only 40% occupied by office tenants at the time it was acquired, came with some advantages and disadvantages for a conversion, Cross said.
With its eight stone gargoyles and conical clay tile roof, the building was the tallest structure in San Antonio until the Tower of the Americas was built in 1968. About two decades later, the Tower Life Insurance Company took up residence in the building and the name Tower Life has stayed with the building since. It was placed on the National Register of Historic Places in 1991.
Apartments of varying sizes will be built on the second floor and continue up the building for a total of 234 units.
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