San Antonio, TX, August 24, 2025
News Summary
The San Antonio City Council approved a term sheet pledging $489 million for Project Marvel, aimed at transforming downtown with a new Spurs arena, entertainment district, and more. Despite a 7-4 vote in favor, opposition arose over transparency and independent economic studies. Voter approval on November 4 is crucial for the project’s funding. The Spurs commit to $1 billion in contributions and $1.4 billion in nearby development over 12 years, yet concerns linger about public funding and financial accountability.
San Antonio
San Antonio City Council approved a term sheet with Spurs Sports & Entertainment that pledges $489 million in city funding for a proposed downtown transformation known as Project Marvel, despite opposition from Mayor Gina Ortiz Jones. The term sheet passed in a 7-4 vote and moves the project forward toward voter consideration on the November 4 ballot.
What the approval does
The approved term sheet commits the city to provide up to $489 million toward a larger project estimated to cost between $3 billion and $4 billion. The package includes a new arena for the San Antonio Spurs, an entertainment district, a redesigned Alamodome, an expanded convention center, a new hotel, and a land bridge over Interstate 37 intended to better connect the East Side with downtown. The Spurs have pledged to contribute at least $1 billion to the overall project and have guaranteed $1.4 billion of nearby development over a 12-year period.
Funding and conditions
The majority of the public funding is expected to come from visitor-related taxes, including proposed increases on hotel and car rental taxes that must be approved by voters on November 4. The city would issue bonds to cover its share of the up-front costs, with planned revenue streams including technology lease income and revenues from special tax capture zones. The term sheet explicitly makes the city funding contingent on voter approval of the proposed tax measures.
Council vote and political response
The term sheet was approved by a 7-4 vote. Opposition during the vote included Mayor Gina Ortiz Jones and council members Leo Castillo-Anguino, Teri Castillo, and Ric Galvan. Mayor Jones had requested a pause to allow for an independent economic impact study before the council moved forward but that pause was not granted. Council members in favor cited potential economic benefits and revitalization opportunities; some members voting in favor also noted trust in the Spurs’ long-term commitments to the area.
Economic analysis and transparency concerns
City officials and critics raised concerns about the available financial data and the need for independent verification. The current economic impact study was produced by a consultant hired by the Spurs, and opponents argued that this information had not been independently validated. Concerns were also raised about perceived lack of transparency, including reports of backdoor meetings and the use of non-disclosure agreements in some project discussions. Public testimony during the council meeting reflected a division between supporters who emphasized potential jobs and investment and opponents who disputed the public cost and transparency of the deal.
Project mechanics and guarantees
The term sheet details mechanisms for funding and risk allocation. The city’s share would be financed with bonds backed by identified revenue sources, while the Spurs’ contribution is a minimum commitment rather than the entire private share. The project includes capture zones that would direct increased tax revenue from defined areas toward project repayment, and technology lease agreements intended to provide additional revenue streams. The Spurs’ guarantee of $1.4 billion in adjacent development is part of the private-sector commitments tied to the term sheet.
Next steps
Because the term sheet conditions rely on voter approval, the next major milestone is the November 4 ballot, when voters will decide on tax measures that would fund a substantial portion of the public contribution. If those measures pass, the city and Spurs will move to final agreements and project implementation planning. If voters reject the measures, the city’s pledged funding would not be available as outlined in the term sheet.
Context and broader implications
The Project Marvel proposal represents a multi-billion-dollar urban redevelopment effort with potential implications for downtown San Antonio, the East Side, the hospitality and convention economy, and long-term tax revenues. Supporters say the project could spur economic growth and revitalization; critics say public funding priorities, the sufficiency of independent analysis, and transparency must be addressed before committing taxpayer-backed finance to such a large project.
FAQ
What did the San Antonio City Council approve?
The council approved a term sheet with Spurs Sports & Entertainment that pledges $489 million in city funding for Project Marvel, passed in a 7-4 vote.
How much will the Spurs contribute?
The Spurs committed to contribute at least $1 billion to the overall project and guaranteed $1.4 billion of nearby development over a 12-year period.
Is the project fully funded?
No. Total estimated cost is between $3 billion and $4 billion. The city’s $489 million pledge is contingent on voter approval of tax measures set for the November 4 ballot; additional funding is expected from visitor taxes, bonds, and private contributions.
What are the main components of Project Marvel?
The project includes a new Spurs arena, an entertainment district, a redesigned Alamodome, an expanded convention center, a new hotel, and a land bridge over Interstate 37 to better connect the East Side to downtown.
Were there concerns about the approval?
Yes. Concerns included calls for an independent economic impact study, questions about transparency and non-disclosure agreements, and public opposition to using significant public funds for the project.
Key features of Project Marvel
| Feature | Description | Funding/Status |
|---|---|---|
| New Spurs Arena | A modern downtown arena to replace or supplement current facilities | Part of overall project; funding contingent on voter approval |
| Entertainment District | Mixed-use development connected to the arena and downtown | Private and public mix; Spurs committed development guarantees |
| Alamodome Redesign | Renovation or redesign of the existing Alamodome facility | Included in term sheet; city funding allocated in term sheet |
| Convention Center Expansion | Expanded space to attract larger conventions and events | Part of project scope; funding tied to tax measures |
| Land Bridge over I-37 | Infrastructure to connect East Side neighborhoods with downtown | Included in term sheet; city and project planning to follow approvals |
Timeline (sequence of events)
| Date/Time | Event | Status / Source |
|---|---|---|
| Recent (council meeting) | City Council approves term sheet for Project Marvel | Approved 7-4; Mayor opposed |
| Before council vote | Mayor requested pause for independent economic impact study | Request not granted |
| November 4 (ballot) | Voter decision on hotel and car rental tax increases and other measures | Contingent: city funding depends on voter approval |
| If measures pass (post-election) | Final agreements, bond issuance, and project implementation planning | Contingent on voter approval and final contract terms |
Simple visual charts — estimated funding shares
Estimated shares based on project cost range ($3B–$4B). These are illustrative ranges based on reported commitments.
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Additional Resources
- KSAT News
- Wikipedia: San Antonio
- San Antonio Current
- Google Search: Project Marvel
- KENS 5 News
- Google Scholar: Spurs Arena Funding
- Air Alamo
- Encyclopedia Britannica: San Antonio Spurs Arena
- KSAT News
- Google News: San Antonio City Council Vote
Author: STAFF HERE SAN ANTONIO WRITER
The SAN ANTONIO STAFF WRITER represents the experienced team at HERESanAntonio.com, your go-to source for actionable local news and information in San Antonio, Bexar County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Fiesta San Antonio, San Antonio Stock Show & Rodeo, and Dia de los Muertos. Our coverage extends to key organizations like the Greater San Antonio Chamber of Commerce and United Way of San Antonio and Bexar County, plus leading businesses in retail, insurance, and energy that power the local economy such as H-E-B, USAA, and Valero Energy. As part of the broader HERE network, including HEREAustinTX.com, HERECollegeStation.com, HEREDallas.com, and HEREHouston.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
