San Antonio Voters Approve $1.3 Billion Downtown Arena for the Spurs — Here’s What It Means for Local Real Estate

It’s official—San Antonio is welcoming a brand-new home for its beloved Spurs. After months of community debate and voting, Bexar County residents approved financial support for a $1.3 billion downtown arena and entertainment district, known as Project Marvel. The new development, situated near the former CPS Energy site downtown, aims to revitalize the city’s core with modern housing, retail, green spaces, and vibrant public plazas (Express-News, 2025).

The project is a cornerstone in the city’s long-term vision of urban renewal, turning San Antonio’s downtown into a dynamic, year-round destination for residents, tourists, and investors alike.

Why This Matters for San Antonio 

Project Marvel promises to be a transformative force for downtown San Antonio, adding both recreational and residential appeal. The plan includes a new 18,000-seat arena, surrounded by mixed-use developments featuring retail, hotels, restaurants, and residential towers—all designed to generate economic activity and community engagement.

This initiative will leverage a combination of hotel occupancy taxes, rental car taxes, and public bonds—up to $1.3 billion—to fund construction and infrastructure upgrades. City and county officials expect this commitment to stimulate thousands of jobs and help sustain the city’s tourism and entertainment sectors for decades to come.

This project complements ongoing developments like Frost Tower, the Hemisfair park upgrades, and the River Walk revitalization, collectively transforming downtown into a vibrant 24-hour neighborhood (SA.gov, 2025).

Community & Real Estate Impact

The economic ripple effects will extend into local neighborhoods, especially within a 1–2 mile radius of the arena. According to SABOR data, properties in districts like Lavaca and King William are projected to see property values increase by 12–18% over the next five years, driven by proximity to new amenities and public investments.

Developers are already eyeing opportunities for mixed-use projects, and existing homeowners are optimistic about the long-term stability and growth. Downtown zoning updates and new development incentives will likely create a wave of multifamily, short-term rental, and commercial opportunities in areas like the West Side and along the San Pedro Creek corridor.

Tami Price Quote 

“When voters approve projects like this, it’s a strong indicator that developers and brands see long-term value in downtown San Antonio,” says Tami Price, REALTOR® and Broker Associate with Real Broker, LLC.

“From sports to living spaces, this will generate a more vibrant, walkable community that appeals to residents, investors, and visitors alike.”

Three Takeaways 

• The $1.3 billion Project Marvel infrastructure plan is now approved, with an expected groundbreaking in late 2026.
• The new arena and surrounding district aim to elevate property values and downtown revitalization efforts.
• Local neighborhoods closer to the arena are positioned for long-term growth, mixed-use development, and increased demand.

The Bottom Line

San Antonio’s downtown renaissance is accelerating, and the approval of Project Marvel solidifies the city’s future as a premier sports and entertainment destination. For homebuyers, investors, and business owners, understanding how this major development impacts real estate values is essential.

Whether you’re exploring opportunities for purchase, sale, or renewal, now is the time to watch how San Antonio’s urban growth continues to unfold.

Contact Tami Price, REALTOR®, at 210-620-6681 to discuss how downtown redevelopment can influence your real estate plans.

FAQs 

1. When will construction of the new Spurs arena begin?
Construction is projected to start late 2026, following the finalization of planning and community input phases.

2. Will the current AT&T Center close during construction?
No decision has been made yet; the AT&T Center may continue to host events until the new arena is operational around 2029.

3. Where exactly is Project Marvel located?
It will be built near the former CPS Energy headquarters site, close to Hemisfair park and the San Pedro Creek.

4. What are the expected economic benefits?
Thousands of construction jobs, increased tourism, and higher property values in surrounding districts are anticipated.

5. How will this project impact downtown housing?
It is expected to stimulate new residential development, including condos, apartments, and mixed-use spaces, boosting downtown’s livability and market appeal.

Whether you’re buying, selling, or investing, understanding how local growth affects home values is essential. Contact Tami Price, Realtor®, at 210-620-6681.