The University of the Incarnate Word (UIW) has finalized an agreement with the City of San Antonio to expand its downtown campus. With $48 million in tax-exempt bonds, UIW will renovate a nine-story office tower previously occupied by USAA and AT&T Inc., which is now owned by the university.
Through its Texas Education Facilities Corp., the city approved a loan agreement with UIW to fund the redevelopment of this building located near Broadway and Hildebrand. According to reports from The San Antonio Business Journal, UIW has committed to reimbursing all fees associated with bond issuance, relieving any obligation for repayment on behalf of the city.
Renovations began in May 2019 when AT&T agreed to sell their Broadway tower to UIW. The building was renamed Founder’s Hall after receiving an anonymous donation of $5 million – at that time, it was also their largest academic gift received. This newly acquired space can be utilized as classrooms, offices or dormitories for students at UIW.
