CPS Energy says it's downtown headquarters is worth a bundle, and it is looking at options to 'extract value' from it's existing building and move its main office elsewhere, 1200 WOAI news reports.
The utility has been headquartered in two buildings at Navarro and Villita Streets since 1954. The utility also owns Villita Assembly Hall, which is across the street from it's downtown parking garage.
"There is no doubt that our headquarters property has increased in value over the past 10 to 15 years," CPS Energy Chief Administrative Officer John Benedict said.
He said the utility is not looking at moving out of downtown, saying there is 'some part of downtown that could benefit from new activity.'
The utility has appointed a 'headquarters advisory group' which includes city officials, community leaders, and the mayor's office to provide guidance on where and whether to move.
The utility now has about 800 of its 3300 employees located downtown.