by | Published
SAN ANTONIO, Texas—The San Antonio City Council has given its support to a proposed partnership with the San Antonio Spurs and Bexar County to build a new downtown arena, a move officials are calling a "once-in-a-generation opportunity."
On August 21, Councilmember Viagran publicly backed the non-binding agreement, which must be approved by voters before it can move forward. According to the councilmember, the project aims to transform downtown and strengthen the local economy without creating a burden for taxpayers. The plan would leverage new state funds generated by out-of-town visitors to help finance the project.
The proposal outlines a multi-billion-dollar investment. Key financial details include:
$311 million allocated by Bexar County for the arena, pending voter approval.
$500 million committed by the Spurs for arena construction.
An additional $500 million committed by the Spurs for initial surrounding development, with a total of more than $1.4 billion in private investment anticipated at full build-out.
A critical component of the agreement is the Spurs' commitment to cover all cost overruns on the arena's construction, ensuring public funds are protected from unforeseen expenses.
Viagran described the Spurs as an "anchor" for the city, stating that the partnership would ensure the team remains in San Antonio for generations while transforming a vacant downtown site into a vibrant, mixed-use district. The project is expected to support jobs and long-term investment.
While acknowledging public skepticism, Viagran stated that the Spurs are "offering guarantees" and not just promises. The councilmember stressed that the proposal is a "thoughtful and democratic next step" that puts the final decision in the hands of the voters of Bexar County and San Antonio.
