WINDCREST, Texas – The rumors have swirled for months, and now it appears inevitable that Rackspace is changing hands. According to the Wall Street Journal, the cloud computing company is in talks with private investment firms and a deal could happen within a week.
In 2005, an area around Windsor Park Mall was in trouble. The mall closed, businesses took a hit and so did the city. Rackspace came soon after. It was a game-changer, according to Windcrest Mayor Alan Baxter.
"Their chairman, Graham Weston, is a big champion of San Antonio and Windcrest. They are great corporate citizens who give a lot to our community. I don't see that changing,” Baxter said.
Rackspace brought a use for the old mall, 5,000 young tech workers with nice salaries and a renewed commercial base to the city. With all the development that has already happened on I-35 in Windcrest, there’s much more to come. A luxury hotel is expected to be built around the area in a few years.
Residents worry that a sale may equal a move and an end to the good Rackspace brought to the community.
"They came over and they started doing stuff for the community. It would just be a shame for so many who work there. There's so many people who work there,” said Yolanda Mesa, a Windcrest resident.
Baxter said the company made too big an investment in Windsor Park Mall for its employees to walk away from the sale easily. But even he admits that in business, anything is possible.