Voters Approve $311 Million Spurs Arena Plan in San Antonio

BREAKING: Voters in Bexar County, Texas, have just greenlighted a transformative plan for the San Antonio Spurs, approving a proposal that commits up to $311 million in venue taxes for a new downtown arena. This pivotal decision on November 7, 2023, saw over 52% of voters supporting the measure, despite facing significant opposition from various lawmakers and local groups.

The Spurs are now positioned to invest at least $500 million toward the construction of the multipurpose arena, with plans to cover any cost overruns. The team will also pay rent at the new facility, which will help offset the projected $489 million contribution from the city. Peter J. Holt, chairman of Spurs Sports and Entertainment, expressed enthusiasm, stating, “We love this city, we love this county, and the county and the city love us back.”

In a bold promise, the Spurs are committed to generating around $1.4 billion in private development surrounding the new arena, aiming to invigorate the local economy. Holt emphasized the community impact, saying, “This is something we deserve. Our fans deserve it. Our community deserves it. We’re going to believe and execute big things.”

Additionally, voters passed a separate measure that allocates $200 million for increased rodeo events in San Antonio, showing a strong community backing for local entertainment initiatives.

The Spurs’ proposal highlighted that venue taxes primarily come from visitors through hotel and rental car bills, ensuring no increase in local property taxes for San Antonio residents. This strategy resonated with voters, despite recent polling indicating a challenging path to victory for the Spurs.

San Antonio Mayor Gina Ortiz Jones has called for more analysis regarding the city’s financial commitment to the project, reinforcing the need for a well-thought-out approach moving forward. Holt responded, “We’re going to work together to get something special done.”

As the Spurs enter the design stage, there is currently no set timeline for construction. The team’s lease at their existing home, the Frost Bank Center, expires in 2032, adding urgency to the development plans. The community is now abuzz with anticipation as officials prepare to move forward on this landmark project.

Stay tuned for updates on the Spurs’ new arena and its potential impact on San Antonio’s economy and culture.