Voters in Bexar County, Texas, have approved a significant proposal that brings the San Antonio Spurs closer to securing a new downtown arena. On December 5, 2023, over 52% of voters backed the plan, allowing officials to allocate up to $311 million in venue taxes for the construction of a multipurpose facility. This decision comes despite notable opposition from some lawmakers and community groups.
The Spurs organization has pledged to invest at least $500 million towards the project, which includes covering any cost overruns. Additionally, the team will pay rent at the new arena, contributing to an anticipated $489 million investment from the city.
Peter J. Holt, chairman of Spurs Sports and Entertainment, expressed enthusiasm for the project during a press conference following the vote. “We love this city, we love this county, and the county and the city love us back,” he stated. Holt emphasized the plan’s potential to stimulate economic growth, promising around $1.4 billion in private development surrounding the arena.
Community and Economic Impact
The Spurs made a compelling case to voters, arguing that venue taxes would be primarily paid by visitors through hotel and rental car bills, thus not increasing property taxes for local residents. State law dictates that these funds can only be allocated for projects like arenas. Despite polling suggesting a challenging path to victory, the proposal ultimately passed, indicating strong community support.
San Antonio Mayor Gina Ortiz Jones has called for further analysis of the proposal, particularly regarding the city’s financial contribution. “We’re going to work together to get something special done,” Holt remarked, highlighting a collaborative approach towards realizing the project.
The timeline for construction remains unclear, with Holt indicating that the Spurs are “at the very beginning of the design stage.” The current leasing agreement at the Frost Bank Center extends until 2032, which provides some breathing room for planning and development.
Future Prospects for Spurs and Community Events
In addition to the arena proposal, voters also approved a separate measure that could allocate approximately $200 million for increased rodeo events in San Antonio. This dual initiative highlights a broader commitment to enhancing community engagement and entertainment options in the region.
Holt concluded with a vision for the future: “This is something we deserve. Our fans deserve it. Our community deserves it. We’re going to believe and execute big things.” As the Spurs look to the future, the potential for a new arena stands as a pivotal development that could redefine the landscape of sports and entertainment in San Antonio.
