Jefferson Bank has begun work on its new headquarters building in what is fast becoming a banking center in the local Broadway corridor.
A project that began two years with the purchase of 1.7 acres of prime property at Broadway and East Grayson streets, the new 10-story home for the 75-year-old bank is under construction near the Pearl at 1900 Broadway St. It is expected to be completed by the third quarter of 2022.
Jefferson Bank and its development partner, Milam Real Estate Capital, are building a 230,000-square-foot building with eight levels of Class A office space, ground-level retail, and five floors of parking.
The bank will occupy four levels as well as partial space on the ground level for a customer banking center. The remaining space will be made available for lease. The building will feature an upscale tenants lounge, fitness facility, an elevated bar area as well as many outdoor patios.
“We are pleased to begin construction of our new home,” stated Paul McSween III, president of Jefferson Bank. “With our new headquarters, we are poised for growth and continuing our legacy.”
Jefferson Bank opened its first location in 1946 on Fredericksburg Road and today operates 11 financial centers with 354 employees in San Antonio, Boerne, and New Braunfels. Recent filings show the bank has $2.2 billion in assets and $1.9 billion in total deposits.
Located in the Government Hill neighborhood, the site was cleared of a cocktail bar, Still Golden Social House, and at least two 1920s-era shotgun houses to make way for the new bank.
Bank of America recently moved into three floors of the nearby Oxbow building at 1803 Broadway and Credit Human is building its new headquarters at 1703 Broadway. The credit union will occupy seven or eight floors and lease other spaces.
“We are thrilled to see the development of 1900 Broadway commence and to be a partner with Jefferson Bank on this project,” stated Plack Carr, managing principal at Milam Capital. “The new headquarters in the city’s growing financial district on the booming Broadway corridor is a prime location.”
Architects on the project include Don McDonald Associates of San Antonio and HKS of Dallas. The San Antonio office of global architecture firm Gensler is working with Jefferson on the building’s interior design. Joeris is the general contractor.