San Antonio Voters Approve Funding for New Spurs Arena
San Antonio,TX – Voters in San Antonio have approved Proposition B,authorizing public funding for a new $1.5 billion arena for teh San Antonio Spurs, intended to anchor a larger downtown entertainment district dubbed “Project Marvel.” The measure passed with 52.1% of the vote, paving the way for the team to relocate from the Frost Bank Center.
The funding plan relies on a public-private partnership. Bexar County will increase its hotel occupancy tax by up to 2% (reaching a total of 17%) adn extend its existing 5% rental car tax, projected to generate roughly $311 million – about a quarter of the arena’s cost. The City of San Antonio is committing approximately $489 million through tax-increment financing, while the Spurs institution will contribute around $500 million in private funding, including a commitment to cover potential cost overruns.
Beyond the arena, Project Marvel envisions a significant revitalization of the downtown area, including an expansion of the Henry B. Gonzalez Convention Center, a new convention hotel, a land bridge connecting the east side to downtown, and upgrades to the Alamodome. initial designs were produced by Populous.
Spurs CEO R.C. Buford hailed the project as a vital investment in San Antonio’s future, stating it will ”energize our economy, strengthen our community and position San Antonio for long-term success.” This new arena will be the Spurs’ fourth home in the past fifty years, following HemisFair Arena, the Alamodome, and the current Frost Bank Center.
Mayor gina Ortiz Jones described the vote as a “generational investment” that will “revitalize our downtown and strengthen our city,” emphasizing the importance of collaboration and bold vision. She also pledged continued efforts to ensure progress and affordability in the downtown area.
While the vote advances the proposal, final contracts are still under negotiation, and the Spurs’ current lease at frost Bank Center extends through 2032.
Concerns Raised Over Autonomous Review
The approval follows a period of debate, including a call from Mayor Jones for a “strategic pause” and an independent economic-impact study. She expressed concerns about the potential $489 million in city-backed obligations and the fact that the initial analysis was conducted by CSL, a firm affiliated with the Spurs organization. Despite her request for an unbiased review, the city council moved forward with the MOU approving the project by a vote of 7-4.