Spurs have been given the green light to build their new venue
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Good news for Spurs : Becker County voters approved, by a very narrow 52% majority, a plan authorizing $311 million in taxes to begin construction on their new downtown venue. The decision came despite significant opposition from certain elected officials and local groups.
The franchise, for its part, undertakes to invest at least 500 million dollars in the project, but also to cover all budget overruns and to pay the rent for the future room. The city plans to contribute a total of about $489 million.
The Spurs are also pledging $1.4 billion in private development around the site, with the idea of creating a new hub of urban life and revitalizing the entire neighborhood at the foot of the site. Tower of America.
To get the measure passed, the city of San Antonio assured that these new taxes would be paid mostly by tourists (hotels, rental cars, etc.) and would not burden residents’ property taxes. Despite this, Mayor Gina Ortiz Jones is still demanding analyzes of the actual impact on the city’s finances.
But also more rodeo!
“We love this city and it makes us feel good”in any case, Peter J. Holt, the owner of the Spurs, reacted. “We’re ready for something really special that’s going to help the Spurs, that’s going to help rodeo, that’s going to help all sectors of the community, in the heart of our city. It’s something we deserve. Our fans deserve it. Our community deserves it. We’re accomplishing great things.”
The second vote authorized up to $200 million for the development of hosting rodeos in San Antonio.
However, no construction start date has been set. The project is in its early stages, and the Spurs’ lease at the Frost Bank Center runs until 2032.
2025-11-05 08:31:00
