DEPARTMENT: Economic Development
DEPARTMENT HEAD: Alejandra Lopez
COUNCIL DISTRICTS IMPACTED: City-wide
SUBJECT: Presentation on Credit Human’s new downtown headquarters, highlighting their innovation and sustainability.
SUMMARY:
A briefing by Stephen Hennigan, CEO, on sustainability and innovation in Credit Human’s new corporate headquarters downtown, the building’s impact on the community, and how City involvement helped make this project a reality.
BACKGROUND INFORMATION:
Headquartered in San Antonio, Credit Human Federal Credit Union serves more than 200,000 members in five states and manages nearly $3 billion in assets. In addition to San Antonio, Credit Human has operations in Schertz and Houston, Texas; Federal Way, Washington; Greensboro, North Carolina; St. Albans, Vermont; and Aurora, Colorado. In 2017, the company announced that it would consolidate its three operation centers into a new headquarters campus at the Pearl Brewery.
On October 19, 2017, City Council approved an incentive package consisting of a 10-year, 100% abatement for real and personal property and a five-year tax rebate capped at a combined total of $5,923,882 for the retention of 435 employees and the creation of 50 new jobs over five years, with 46% of all salaries considered to be high-wage. The project also included an investment of $113,000,000 over three years.
ISSUE:
The Community Health and Equity Committee requested a briefing on Credit Human’s new headquarters at the Pearl Brewery, which include innovative practices that will have a great impact on the community and the environment. The building will be a state-of-the-art sustainably-constructed corporate headquarters that will allow for future growth over the next 45-50 years. Compared to buildings of a similar size, the Credit Human building will be 40% more energy efficient, will use 97% less potable water, and will reduce carbon production equal to removing about 224 passenger vehicles from the road for one year, each year. The LEED Gold Certified building will reach these goals through an ultra-high efficiency building envelope design, a water cooled variable refrigerant flow (VRF) HVAC solution, a hybrid geothermal loop cooling system, highly efficient infrastructure and PV solar arrays, rainwater and condensate water capture system, and LED lighting.
This project will also include public improvements such as a new pocket park at Broadway and Avenue B, new trees, green spaces, and sidewalks along Broadway. The project will also provide street, sidewalk, and bike lane improvements on Avenue B, improved and additional parking around the Pearl, and traffic signal and intersection improvements on Broadway, Avenue B, Newell, and Josephine Street.
The new headquarters is scheduled to open in spring 2021.
FISCAL IMPACT:
There is no fiscal impact associated with this briefing item.
RECOMMENDATION:
This briefing is for informational purposes.