San Antonio Spurs’ Arena Proposal Approved by Voters: $311M Greenlighted

UPDATE: Voters in Bexar County, Texas have just approved a major plan that brings the San Antonio Spurs closer to a new downtown arena. In a decisive vote on July 25, 2023, over 52% of voters supported committing up to $311 million in venue taxes for the construction of a multipurpose facility.

This approval marks a significant win for the Spurs, despite facing notable opposition from lawmakers and local groups. The team has pledged at least $500 million toward the project and will handle any cost overruns, ensuring that taxpayers are not burdened. Additionally, the Spurs will pay rent at the new venue, which will help offset a proposed $489 million contribution from the city.

“We love this city, we love this county, and the county and the city love us back,” said Peter J. Holt, chairman of Spurs Sports and Entertainment, during a press conference following the vote. The plan also includes a promise of approximately $1.4 billion in private development around the new arena, aiming to stimulate local economic growth.

The Spurs’ proposal emphasized that the venue taxes will primarily be paid by out-of-town visitors, such as hotel guests and rental car customers, meaning there will be no increase in property taxes for residents. Polling conducted just weeks prior indicated that securing voter support would be challenging, but officials succeeded in making their case.

City Mayor Gina Ortiz Jones has called for further analysis of the plan, particularly concerning the city’s financial commitment to the project. “We’re going to work together to get something special done,” Holt reassured the public, emphasizing the collaborative spirit of the initiative.

Construction of the new arena is still in the early planning stages, with no definitive timeline established. Holt noted that the team’s lease at its current home, Frost Bank Center, extends until 2032, providing a window for development.

As the Spurs prepare to move forward, this project promises to enhance the cultural and economic landscape of San Antonio, fostering a sense of community pride and engagement. The combination of sports, entertainment, and development aims to create a vibrant hub that benefits all sectors of the community.

Stay tuned for more updates on the Spurs’ journey toward a new home, as this story continues to develop.