UT Regents Approve Land Sale at Hemisfair for Potential Spurs Arena

Downtown San Antonio may be on the verge of its biggest transformation in years. On August 21, 2025, the University of Texas System Board of Regents approved the sale of 13.59 acres at Hemisfair to the City of San Antonio. This decision clears a path for what could become a brand-new San Antonio Spurs arena—along with expanded civic and entertainment space right in the heart of the city. 

For locals, homeowners, and anyone looking to move to San Antonio, this announcement carries huge implications—not only for Spurs fans but also for the city’s real estate market, housing demand, and future growth. 

What’s in the Deal? 

The UT System previously owned the land as part of the Institute of Texan Cultures site. With this approval, the City of San Antonio can move forward with plans to redevelop the area. Early discussions suggest the land could house: 

• A new multi-purpose Spurs arena 

• Expanded public civic space for festivals, concerts, and events 

• Retail, dining, and entertainment options 

While the exact design and financing are still under negotiation, the Regents’ approval was a critical first step. 

Why Hemisfair? 

Hemisfair has long been at the center of San Antonio’s revitalization efforts. Once home to the 1968 World’s Fair, it has gradually transformed into a hub for culture, dining, and outdoor events. A new Spurs arena here would: 

• Anchor downtown entertainment with year-round foot traffic 

• Boost nearby residential and commercial property values 

• Strengthen tourism and economic activity in the city’s urban core 

For homeowners near downtown, this type of development could mean increasing home prices and rental demand. 

What It Means for San Antonio Real Estate 

If you’re thinking about buying a home in San Antonio or investing in property, downtown and surrounding neighborhoods could see: 

• Rising property values as new development increases demand 

• Stronger rental market driven by Spurs games, concerts, and conventions 

• Increased walkability making downtown living even more attractive 

Areas like Lavaca, King William, Southtown, and Dignowity Hill are especially likely to benefit from spillover demand. 

Potential Challenges 

Of course, big projects come with big questions. Some concerns being raised include: 

• Public funding: How much will the city and taxpayers contribute? 

• Traffic and infrastructure: Can downtown handle the added congestion? 

• Preservation vs. development: How will Hemisfair’s cultural history be honored? 

Still, the momentum is strong—and many believe the benefits outweigh the risks. 

Impact on Growth Corridors 

San Antonio’s growth isn’t limited to downtown. If the Spurs move to Hemisfair, ripple effects could strengthen development corridors along: 

• I-10 West (spreading toward La Cantera and UTSA) 

• Southtown (continued restaurant, retail, and housing boom) 

• Eastside (major potential for revitalization projects) 

These areas already attract buyers searching for new construction homes in San Antonio, and a downtown arena would only push demand further. 

Source & Coverage 

Read the full report from the San Antonio Express-News: UT Board approves sale of land for potential Spurs arena at former ITC site