San Antonio’s bold $3.5 billion Project Marvel, the plan for a new Spurs arena, expanded convention center, hotel district, and mixed-use development downtown, is facing a major slowdown. 

Mayor Gina Ortiz Jones has called for a full pause and independent economic review before moving forward, citing the need for transparency and accountability on such a massive investment. 

What is Project Marvel? 

The ambitious project includes: 

• A new state-of-the-art arena for the San Antonio Spurs 

• Expanded convention center to boost tourism and events 

• Luxury hotel and retail district 

• Mixed-use development designed to transform downtown 

The total price tag? $3.5 billion. 

Why the Pause? 

Mayor Ortiz Jones wants an independent economic analysis before greenlighting construction. The concern is making sure the return on investment matches the hype. 

• Taxpayer dollars are a key part of the discussion. 

• Downtown development impact needs to be measured. 

• Community input is being prioritized. 

The Real Estate Impact 

If Project Marvel moves forward, the impact on downtown San Antonio real estate could be massive. 

• Property values near downtown would likely see major appreciation. 

• Rental demand could skyrocket with increased tourism and job growth. 

• Businesses and retail would thrive with more foot traffic. 

But with the project on pause, real estate investors and buyers are waiting to see what happens. 

San Antonio’s Downtown Future 

Even if Project Marvel is delayed, downtown San Antonio is still in a revitalization cycle. Between River Walk expansions, housing projects, and tourism upgrades, the area remains one of the city’s hottest markets for both residential and commercial real estate.

📍 Source: My San Antonio 

Frequently Asked Questions

Q: What is Project Marvel? 
A: A $3.5B plan for a new Spurs arena, convention center expansion, hotel district, and mixed-use development in downtown San Antonio. 

Q: Why is the Mayor pausing it? 
A: To ensure transparency and conduct an independent economic review. 

Q: How does this affect real estate downtown? 
A: If approved, it could drive major appreciation, rental demand, and business growth. 

Q: When will we know more? 
A: Updates are expected later this year after the review is completed. 

Want to learn more about how projects can affect your home’s value or buying decisions?
Text Tami at 210-620-6681 or follow @tamisellssanantonio for the latest real estate and community updates in Greater San Antonio.
Tami Price, Realtor® | Broker Associate | Real Broker, LLC