SAN ANTONIO – The CPS Board of Trustees voted on Monday to make the old AT&T building downtown the energy company’s new headquarters.
The building, at McCullough Avenue and Avenue B, has sat vacant for several years since the telecommunication giant left San Antonio for Dallas.
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“Much goes into selecting a new corporate headquarters. Today’s announcement to move forward with the McCullough property is the result of a lot of hard work and dedication from the CPS Energy team,” Ed Kelley, chairman of the Board of Trustees, said in a statement. “This decision is in keeping with the guiding principles of staying in the downtown area, spurring economic development and, most importantly, managing the costs in a way that will not drive an increase in customer rates. The team delivered on these principles and I am delighted with this effort.”
The company said there was no room for growth at its current building downtown.
The building will have to be renovated before CPS can move in. That is expected to happen sometime in 2019.
CPS did not disclose the purchase price of the building nor how much renovations will cost.