EL PASO, Texas (KFOX14) — The city and county approved tax incentives to build a high-rise building in downtown El Paso.
The city originally dedicated $15 million in tax incentives toward the WestStar Tower.
It is now increasing the incentive by another $3.5 million.
The city’s economic development team says the incentive will last for 15 years.
The team’s director, said more interest has been shown in the 18-floor building so more money is needed.
“They’ve had really good success with preleasing. So they found there was a significant amount of interest in demand for office space. So they wanted to increase the square footage,” Jessica Herrera said.
Josh Hunt is the executive vice president of the Hunt Companies.
He says the plan for the tower is to cast a wide net to bring different companies to El Paso. Hunt says the tower, which will take up the space along an entire city block at 601 N. Mesa, could attract tech firms, law firms and financial groups.