Bexar County voters have voiced their approval for the San Antonio Spurs’ new stadium after passing a bond measure to allocate $311 million in public funds to the $1.3 billion project. The Spurs arena approval with the support of public funds will accelerate the project, including new public infrastructure.
On Nov. 4, more than 52% of Bexar County residents voted “yes” for Proposition B, empowering the county to further fund the development of a new multipurpose arena for San Antonio’s professional basketball team.
In addition to Bexar County’s investment, the city of San Antonio will contribute another $498 million to the project while the Spurs will throw in $500 million plus cost overruns. The arena will also be used for other purposes, such as semi-professional, collegiate and amateur basketball games; concerts; entertainment events; community events; and conventions.
The Spurs arena approval is a cornerstone aspect of the $1.3 billion Project Marvel – an ambitious redevelopment effort to revitalize the downtown district. Alongside the arena, the updated sports and entertainment district would feature an upgraded Alamodome, an expanded convention center, a new hotel and more than 25 acres of mixed-use development.
The approved funding was not the only victory for Project Marvel in the election. Voters also passed Proposition A, enabling the city to implement a .25% increase in hotel occupancy tax to fund the redevelopment of the Frost Bank Center, Freeman Coliseum and stock show/rodeo grounds. These efforts are part of San Antonio’s larger vision to transform the East Side into a year-round local and tourist destination.
The completed stadium will be owned by the city and leased for approximately $4 million annually. The Spurs will be responsible for managing operations and maintenance. The team has also noted that it will invest $1.4 billion in private development over a 12-year period around the arena.
There is currently no publicly released construction timeline for the project. However, officials anticipate the stadium will be ready in time for the 2032 NBA season.
Rendering courtesy of the City of San Antonio and Populous
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