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San Antonio Business Journal
Local business leader Mary Rose Brown dies
Mary Rose Brown, who served as a longtime key executive at NuStar Energy, died Friday. She was 68 years old.<\p> The San Antonio native most recently served as executive vice president and chief administrative officer at NuStar before its merger with Sunoco LP, which was completed in June. <\p>
New home sales lag after years of low construction rates
Back-to-back years of low rates of new home construction is leading to a low rate of closings, but a ramp-up in starts means that's likely to be short-lived. <\p> Since rising interest rates put a damper on the housing market in 2022, San Antonio homebuilders have slowed down on starts to ensure they were successfully moving the product they put on the ground. <\p>
Airlines add flights and seats as SA airport sees record traffic
As multiple airlines continue to shift strategies at San Antonio International Airport, the city’s two terminals are on pace to set a new passenger record in 2024.<\p> Through July, nearly 6.4 million ticketholders have flown into or out of SAT. That’s a roughly 6% increase over the passenger count for the first seven months of 2023.<\p>
ICYMI: Hemisfair apartment tower canceled
This has been a big week for business news! Take a look at this edition of Weekly Wrap to find out more about what led to the cancellation of a planned apartment tower at Hemisfair, why greater:SATX is making a push for more corporate headquarters in the Alamo City; and more top stories from the week. <\p> Hemisfair apartment tower scrapped<\p>
Terry Black's BBQ unveils updated design for Broadway project
A high-profile development on the Broadway corridor is coming into focus.<\p> The group behind Terry Black's BBQ has unveiled a more detailed picture of their plans for a currently vacant lot at 2100 Broadway. After steering the project through a number of reviews with the city of San Antonio, the designs are slated to go before the Historic and Design Review Commission next month for final approval. A restaurant, hotel, spa and underground parking structure are all expected to spring up on the lot. <\p>
Plans to retire aging generators could cause reliability issues in SA
Plans to retire three critical generators in San Antonio could stress the electrical grid, forcing the city's electric provider to push them past their prime.<\p> In March, CPS Energy proposed plans to retire three generators that started service between 1966 and 1970 to the Electric Reliability Council of Texas (ERCOT), the state's grid operator. <\p>
Alamo Trust targets dates to start work on Plaza, Paseo
After clearing design reviews, the Alamo Trust has set its sights on making more upgrades to the Alamo grounds.<\p> The stewards of one of the largest tourist draws in Texas plans to renovate the Alamo Plaza and Paseo, two pieces of the ongoing $550 million puzzle that is getting put together through 2027. Work on the Paseo is scheduled to kick off in October, while the Plaza is going to see changes starting in August 2025, according to filings with the Texas Department of Licensing and Regulation. An overarching goal of both scopes of work is to enhance the pedestrian experience.<\p>
Port SA billion-dollar campus plan draws feds’ interest
Port San Antonio’s proposal to develop a new billion-dollar home for Air Force Cyber on its campus has garnered serious consideration by federal officials.<\p> Local leaders could have a better idea within a few months whether the Air Force will pursue such a plan.<\p>
Bexar County commits $100M to fast-track rapid transit
VIA has secured a critical funding commitment from Bexar County needed to expand its advanced rapid transit plan.<\p> County commissioners have approved allocating more than $100 million in local matching funding needed to develop an east-west ART line to complement an initial north-south route.<\p>
Justice Department sues RealPage for 'algorithmic pricing scheme'
The U.S. Justice Department and the attorneys general of eight states have filed a civil antitrust lawsuit against RealPage Inc., alleging the pricing algorithm the company uses for its commercial revenue-management software violates antitrust laws and harms millions of renters.<\p> The lawsuit, filed Friday, is the latest action brought against the Richardson, Texas-based real estate software company, which has seen a wave of class-action suits filed against it in relation to its algorithm-based software.<\p>
Mario Ochoa, local public relations executive, dies at 42
Mario Ochoa, a prominent local public relations executive and downtown advocate, passed away on Sunday, Aug. 18. <\p> A San Antonio native, Ochoa co-founded Sammis I Ochoa PR + Digital Marketing in 2010 with Tanya Sammis. Over the last 14 years, the two have steered the agency to prominence in the local PR community, racking up prominent clients like the San Antonio Auto Show, Tech Port and San Antonio Shoes. The company reported $703,250 in fee income for 2023, according to the Business Journal's 2024 Public Relations Firms List.<\p>
Table Space: Burger Boy, HTeaO expand
The new Burger Boy on UTSA Boulevard officially opened its doors this week, and another location is coming to Windcrest in 2025. <\p> Yesterday, the location near the University of Texas at San Antonio officially opened for business, and the local chain's expansion across San Antonio is not finished yet, as plans for the Windcrest location move forward.<\p>
Family, fertility benefits increasingly offered as retention strategy
A growing number of employers are offering “highly-valued” fertility benefits to boost retention and reduce absenteeism.<\p> The International Foundation of Employee Benefit Plans found about 42% of American organizations now offer some kind of fertility benefit — up from 30% in 2020. But some specific fertility-related benefits have skyrocketed, including fertility medications, which grew from being offered at 8% of U.S. employers in 2016 to 32% in 2024. In vitro fertilization was offered by 13% of employers in 2016 and has grown to 32% in 2024. <\p>
The Playbook: A potentially costly mistake hiring managers are making
Editor’s Note: Welcome to The Playbook Edition, a look at stories, trends and changes that could affect your business. Want more stories like this in your inbox? Sign up for The Playbook newsletter. <\p> The barrage of criticism toward Generation Z workers may have reached a tipping point and could be leading hiring managers toward making costly misjudgments on future employees. <\p>
UTSA approved to buy downtown office tower
UTSA has the green light to push farther into the downtown landscape.<\p> The University of Texas System Board of Regents voted Thursday to authorize the San Antonio branch to acquire One Riverwalk Place, one of the urban core's largest office towers. The university announced it signed a letter of intent for the 264,900-square-foot asset with the current owners, Affinius Capital and Patrinely, earlier this month. <\p>
UTSA and UT Health San Antonio to merge by 2025
The University of Texas System Board of Regents authorized Chancellor James Milliken and the UT System to work with University of Texas at San Antonio President Taylor Eighmy and UT Health San Antonio acting President Rob Hromas to integrate the institutions by 2025.<\p> Regents have also voted unanimously to name Eighmy as president of the new university, which would retain the UTSA name once the move is approved by accrediting entities.<\p>
What businesses should do after massive data breach
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. We're looking at what shifting desires for remote work mean for retention, what's happening with home improvement demand, and a $4.9 billion deal by a semiconductor giant. First, however, we're digging into why the recent National Public Data breach matters and what to do about it.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
Seguin eyes big project to kickstart downtown revitalization
After launching a plan more than a year ago to revitalize its downtown, Seguin is now seeking partners to assist in the redevelopment of a key multi-building site near the city’s Central Park area.<\p> It’s a landmark project backers believe could ignite a larger transformation in the heart of the 186-year-old community.<\p>
Former El Tropicano owner appeals investor suit ruling
A dispute centered around a downtown hotel redevelopment is escalating.<\p> Alamo Equity LLC, the private equity firm that owned the El Tropicano hotel until last year, has filed an appeal against a decision to award millions to a former investor. District Court Judge Angelica Jimenez certified an arbitrator's decision in July to award Emilio Nicolas Jr. $5.27 million after a monthslong mediation process. Attorneys for Alamo Equity lodged the motion in the Texas Fourth Court of Appeals this month. <\p>
Spurs TV broadcasts to see big change
Longtime television voice of the San Antonio Spurs Bill Land is stepping away from the microphone after more than two decades as the lead play-by-play announcer for the NBA franchise.<\p> Land’s retirement comes weeks out from the start of the 2024-2025 season and follows his 2023 diagnosis of multiple myeloma, a rare blood cancer.<\p>
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