Sundt Construction and CPS Energy have settled on a price for the latter’s new headquarters in the former AT&T buildings in downtown San Antonio. The 430,000-square-foot project at McCullough and Avenue B will undergo rehab for $150 million. With the official price agreed upon, Sundt Construction is preparing to launch renovations on the 1920s three-building complex by the end of 2017.

The final steps of this project cap off a six-year process that began when the utility realized it needed more space. Options included building a new structure, or renovating an existing downtown building. The current two-tower campus at 145 Navarro St. has less than 300,000 square feet. CPS Energy is planning to sell the property to offset the costs of its new headquarters.

The new headquarters will consolidate the company’s more than 3,100 employees. CPS will start moving employees into the new space during the first half of 2020.

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