BREAKING: Voters in Bexar County, Texas, have just approved a crucial proposal that brings the San Antonio Spurs closer to a new downtown arena. In a decisive vote on Tuesday, 52% of voters supported the plan, enabling officials to allocate up to $311 million in venue taxes for the construction of a state-of-the-art multipurpose arena.
This development is significant for the Spurs and the local community, as the team has pledged to invest at least $500 million towards the arena’s construction. The Spurs will also cover any potential cost overruns and will pay rent at the new facility, which will contribute to a proposed $489 million from the city of San Antonio.
Peter J. Holt, chairman of Spurs Sports and Entertainment, expressed his excitement:
“We love this city, we love this county, and the county and the city love us back.”
He emphasized the project’s potential to benefit the entire community, stating that around $1.4 billion in private development is anticipated around the new arena.
The proposal faced opposition from various lawmakers and groups, but the Spurs made a compelling case to voters. They highlighted that venue taxes will primarily be paid by visitors through hotel and rental car fees, and will not raise property taxes for local residents. This strategy was crucial in garnering support, especially considering earlier polls showed a challenging path to victory.
Despite the win, San Antonio Mayor Gina Ortiz Jones has called for more analysis regarding the city’s financial commitment. Holt reassured reporters,
“We’re going to work together to get something special done.”
As of now, there is no set timeline for construction, with Holt indicating that the Spurs are still in the early design stages. The team’s current lease at the Frost Bank Center runs until 2032, giving them time to finalize plans.
In addition to the arena proposal, another measure passed on the same day could pave the way for more rodeos in San Antonio, allowing lawmakers to allocate approximately $200 million for that purpose.
The implications of these developments are profound for San Antonio, potentially transforming the downtown area and enhancing community engagement through sports and entertainment. As the Spurs prepare to embark on this new chapter, fans and residents alike are eager to see what the future holds.
Stay tuned for more updates on this evolving story as the Spurs and local officials work toward making this ambitious project a reality.
