SAN ANTONIO \u2013 San Antonio City Council is expected to receive its next major update on Project Marvel in October, as plans move forward for a new downtown Spurs arena and broader improvements aimed at reshaping the city\u2019s core.<\/p>\n
Sources told KSAT that council members will be briefed on studies related to costs, negotiations with the Spurs, and planned improvements and expansion of the Alamodome and the Henry B. Gonzales Convention Center. <\/p>\n
Construction is expected to begin in about a year, with the arena becoming visible in 2031.<\/p>\n
The project comes after 52% of Bexar County voters approved Proposition B last fall. The measure allows up to $311 million in county funding for a $1.3 billion Spurs arena through a venue tax on hotel stays and car rentals. San Antonio taxpayers are expected to contribute an additional $489 million toward the arena. <\/p>\n
Trish DeBerry, president and CEO of Centro San Antonio, said the project could help bring more activity and investment downtown. Centro San Antonio is a nonprofit focused on improving the city\u2019s urban core.<\/p>\n
DeBerry said the arena, along with a new entertainment district and baseball stadium, could generate millions of dollars in economic impact by attracting visitors, convention-goers and residents.<\/p>\n
\u201cThe arena coming into downtown creates not only a hospitable environment for people to come in here before the game, but stay long after the game,\u201d DeBerry said. \u201cAnd guess what that translates into? Sales taxes, alcohol receipts, and that all goes into the general fund in San Antonio for streets, drainage, and infrastructure.\u201d<\/p>\n
San Antonio Mayor Gina Ortiz Jones said her focus is now on securing the best deal for the city through a non-binding term sheet. That could include items such as naming rights, a share of parking revenue or concessions. <\/p>\n
The current community benefits agreement is valued at $75 million over 30 years. Jones has said she does not believe that amount is enough.<\/p>\n
Read also:<\/p>\n
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