Abandoned East Side Building is Now a 21st Century Tech Incubator

From the 19th Century straight to the 21st Century. News Radio 1200 WOAI reports the old Merchant's Cold Storage building on East Houston Street, an industrial site from the city's past, was reborn today as Velocity Tx, an incubator which will help build the future for the world.

Velocity Tx, which is a project of the Texas Research and Technology Foundation, will be an incubator in the tech, bio, and life sciences industries, stimulating company formation and researcher, and creating high-wage, high skill jobs.

East side Commissioner Tommy Calvert says it will not only change the face of the historically low income east side, but it will also change the world, and bring in investment and clients from around the globe.

"It is growing us up in a way that will catalyze not only the best ideas in business from across the Western Hemisphere and across the world, but also from San Antonians.

He pointed out that of the more than 600 jobs the new incubator plans to create in the coming years, many will be filled from among residents of the east side, giving a boost to a historically depressed sector of the city.

Among Velocity's first partners include the local start up GenCure. The incubator also has plans to work with the military on the development of artificial intelligence for national defense.

And County Judge Nelson Wolff pointed out that Velocity Tx is also a highly visible part of an amazing renaissance that is happening on the east side.

"If you would just go across the railroad track and go into the Alamo City Filming Industry, you will find thirty small companies in the film industry, housing just across the railroad track.

In an homage to the building's history, rather than staging a ground breaking, they held an 'ice breaking,' and buckets of ice were scattered around the building.

PHOTO: Retiring City Manager Sheryl Sculley speaks at the dedication of Velocity Tx in the old Merchant's Ice building.

Sponsored Content

Sponsored Content