East Side Transformation: 400-Acre Mixed-Use Development Near Freeman Coliseum Could Redefine San Antonio's Historic East Side

San Antonio’s East Side is poised for a transformative moment. Hunt Development Group and Lincoln Property Co. have unveiled an ambitious vision: a 400-acre, 3.6 million square foot mixed-use development surrounding the Freeman Coliseum and Frost Bank Center that could redefine one of the city’s most historic and evolving neighborhoods over the next 15 years.

The proposal—the only response to Bexar County’s request for developer ideas issued last summer—envisions a comprehensive district featuring new homes, parks, restaurants, retail establishments, entertainment venues, parking structures, and hotel accommodations. This marks the largest and most comprehensive redevelopment plan the Coliseum Advisory Board has received for the East Side corridor, representing a pivotal opportunity to address decades of unrealized expectations since the Frost Bank Center (formerly AT&T Center) opened in 2002.

“We saw the potential,” said Rodney Moss, senior vice president at El Paso-based Hunt Cos. Inc. “If you can create a mix of uses and density around sports and entertainment, that creates opportunity. It’s about place-making—you’ve got to make a place where people want to go and hang out.”

The Coliseum Advisory Board approved moving forward with negotiations with Hunt and Lincoln on November 7, 2025, setting in motion a 9-12 month master planning process that will determine funding mechanisms, phasing strategies, and community integration approaches for this landmark East Side project.

Why This Matters for San Antonio

San Antonio’s East Side has long been a focal point for revitalization discussions, particularly since the San Antonio Spurs announced plans to move to a new downtown arena (Project Marvel) and voters approved $311 million in county hotel and rental car taxes for renovating and expanding the Freeman Coliseum grounds in November 2025. The Hunt-Lincoln proposal arrives at a critical inflection point, offering a comprehensive vision for an area that has experienced both promise and disappointment over the past two decades.

Historical Context and Community Expectations

When the Frost Bank Center opened in 2002 on San Antonio’s East Side, community leaders anticipated economic spillover that would transform surrounding neighborhoods. While the arena succeeded in attracting major events and anchoring the San Antonio Stock Show & Rodeo’s operations, the anticipated commercial and residential development largely failed to materialize, leaving vast surface parking lots and underutilized land adjacent to one of the city’s busiest event venues.

“This is about addressing long-standing unmet expectations since the Frost arena’s opening and building a lasting cultural legacy,” Hunt and Lincoln stated in their proposal. The developers’ vision specifically acknowledges these decades of delayed promise and positions their plan as finally delivering on the East Side’s economic potential.

Alignment with Broader East Side Initiatives

The proposal builds on significant recent momentum, including:

• Voter Approval of Proposition A (November 2025): $311 million in venue tax increases for Freeman Coliseum and Frost Bank Center improvements, with $197 million designated specifically for transforming the coliseum grounds into a year-round attraction
• Spurs Downtown Move: The team’s planned relocation to Hemisfair Park creates opportunity to reimagine the East Side venue complex’s role in the regional entertainment landscape
• Rodeo Expansion Plans: The San Antonio Stock Show & Rodeo is investing in infrastructure to host year-round Western programming, trade shows, and competitions that currently generate $330 million in annual economic impact

The Hunt-Lincoln master plan would complement these initiatives by creating the walkable, mixed-use district that could leverage event traffic while providing sustainable year-round activity independent of specific events.

Economic and Community Impact Potential

The project promises multiple forms of impact:

Job Creation: Construction jobs during the 15-year buildout, plus permanent employment in retail, hospitality, entertainment, and property management sectors

Small Business Opportunities: Restaurant, retail, and service business opportunities within the development, potentially prioritizing local and minority-owned enterprises

Infrastructure Investment: Potential funding through tax increment reinvestment zones (TIRZ), long-term ground leases, and parking garage revenue could finance streets, utilities, and public amenities benefiting the broader East Side

Walkability and Connectivity: The master plan envisions pedestrian-friendly design connecting residential, commercial, and entertainment components—a significant departure from the area’s current car-dependent character

Community Overview: East Side Neighborhoods and Current Market Dynamics

The proposed 400-acre development sits at the heart of San Antonio’s East Side, bordered by E. Houston Street and I-35, potentially encompassing portions of the city-owned Willow Springs Golf Course and properties owned by the nonprofit operating the San Antonio Stock Show & Rodeo. This positioning places it adjacent to several historic neighborhoods experiencing their own evolution.

Denver Heights

Denver Heights, one of the East Side’s most well-established residential areas, has experienced dramatic property value appreciation over the past decade. According to recent market data, the median home price in Denver Heights reached approximately $249,000-$269,000 in 2025, with properties experiencing a 24.6% year-over-year increase as of April 2025 according to Redfin.

This represents extraordinary growth from the neighborhood’s 2015 median value of approximately $40,000-$50,000, though recent months have shown some cooling with homes selling after an average of 97-103 days on market. The neighborhood’s proximity to downtown San Antonio (approximately 2 miles), historic housing stock, and improving amenities have attracted both owner-occupants seeking affordable urban living and investors recognizing appreciation potential.

Dignowity Hill

Often referred to simply as “Dignowity” by locals, this historic neighborhood has experienced perhaps the most dramatic transformation on the East Side. The median property value reached approximately $170,890 in recent appraisals, representing a 189.5% increase from 2015 values according to San Antonio Heron analysis of appraisal district data.

Dignowity Hill’s proximity to downtown, distinctive historic architecture, and walkable street grid have made it particularly attractive to urban homesteaders and investors. The neighborhood has become a case study for both successful revitalization and ongoing gentrification concerns, with long-time residents facing property tax increases that have in some cases forced displacement despite rising home values.

Wheatley Heights

Located between the Freeman Coliseum complex and downtown, Wheatley Heights has experienced growth influenced by its position as a connector between the urban core and East Side neighborhoods. The area stands to benefit significantly from improved infrastructure and increased foot traffic that a successful Freeman Coliseum district would generate.

Government Hill

Just east of the Pearl district and north of downtown, Government Hill has seen median property values reach approximately $116,370, with 163% increases since 2015. The neighborhood is currently being considered for designation as a Neighborhood Empowerment Zone (NEZ), which would freeze city property taxes for qualified homeowners for up to 10 years to mitigate displacement pressures.

Market Dynamics and Investment Activity

The East Side has emerged as one of San Antonio’s most active areas for real estate investment, driven by:

• Affordability Relative to Central City: Properties starting around $180,000-$270,000 compared to $400,000+ in Alamo Heights or downtown condos
• Appreciation Potential: Historic double-digit annual appreciation in key neighborhoods
• Rental Demand: Proximity to downtown employment and medical districts creates consistent tenant interest
• Infill Development Opportunities: Vacant lots and dilapidated structures provide renovation and new construction possibilities

However, the market has also shown recent cooling, with some neighborhoods experiencing 5-8% year-over-year price declines in mid-2025 according to some data sources, suggesting the extraordinary appreciation rates of recent years may be moderating toward more sustainable levels.

Real Estate Impact: What the Development Could Mean

The 400-acre Freeman Coliseum redevelopment represents the kind of transformational project that typically creates concentric circles of real estate impact, with effects diminishing as distance from the project increases.

Immediate Vicinity (0-0.5 Miles)

Properties Within Project Boundaries: Land and buildings within the 400-acre footprint will likely be acquired through long-term ground leases (for county-owned parcels) or direct purchase (for privately-held properties). Property owners in this category should consult real estate professionals and attorneys to understand their rights and negotiate optimal terms.

Adjacent Properties: Homes and commercial properties immediately bordering the development could experience the most dramatic value appreciation once master planning demonstrates specific amenities and design quality. However, these properties may also face construction impacts during the 15-year buildout.

Primary Impact Zone (0.5-2 Miles)

Neighborhoods like Denver Heights, Dignowity Hill, Wheatley Heights, and portions of Government Hill fall within the zone most likely to experience sustained real estate impacts:

Residential Property Values: Properties within this radius are projected to see accelerated appreciation due to enhanced amenities, improved infrastructure, increased walkability, and association with a revitalized district. Historical precedents from similar projects suggest 15-30% value increases over 5-10 years, though actual results depend on execution quality and market conditions.

Rental Demand: New employment opportunities in retail, hospitality, and entertainment sectors will drive tenant interest. Multifamily properties, duplexes, and single-family rentals positioned near the development could command premium rents and maintain high occupancy rates.

Investment Activity: Older homes, fixer-uppers, and vacant lots will become prime targets for house flippers, infill developers, and buy-and-hold investors recognizing the area’s transformation potential. This creates opportunities for current owners to sell at appreciated prices and for investors to acquire properties before widespread recognition drives prices higher.

Commercial Opportunities: Retail storefronts, restaurant locations, and mixed-use properties along E. Houston Street, Commerce Street, and other major corridors could see renewed interest and rising lease rates as foot traffic increases.

Secondary Impact Zone (2-3+ Miles)

Neighborhoods further from Freeman Coliseum may experience indirect benefits:

• Improved perception of the entire East Side as a vibrant, invested-in area of San Antonio
• Infrastructure improvements (streets, utilities, transit) that benefit broader areas
• Spillover demand from buyers priced out of primary impact zones
• Economic multiplier effects from job creation and increased spending

However, effects in this outer ring will be less pronounced and may take longer to materialize than in closer neighborhoods.

Market Timing Considerations

The 15-year buildout timeline means real estate impacts will unfold in waves:

Years 1-3 (Master Planning and Initial Construction): Speculative buying by investors anticipating future value; property values in primary impact zone may appreciate 10-20% based solely on announcement and planning approval

Years 4-7 (First Phase Completion): Initial amenities and businesses open; market validates or adjusts expectations based on execution quality and tenant mix; this period typically shows strongest appreciation for early-positioned investors

Years 8-15 (Full Buildout): District matures with full amenity complement; appreciation moderates to sustainable levels; investment focus shifts from speculation to income generation and stable returns

Current homeowners and investors should consider where they want to position relative to this timeline—early entry offers maximum appreciation potential but carries execution risk, while later entry reduces uncertainty but captures less upside.

Potential Challenges and Risk Factors

Not all impacts will be positive, and sellers, buyers, and investors should consider:

Construction Disruption: 15 years of phased construction means extended periods of noise, traffic, dust, and visual impact for nearby properties

Gentrification and Displacement: Rising property values and taxes could force long-time residents from their homes, fundamentally changing neighborhood character and potentially creating social friction

Execution Risk: The project’s success depends on Hunt and Lincoln’s ability to secure funding, attract quality tenants, and deliver on the master plan vision—factors outside community control

Market Cycle Vulnerability: A 15-year buildout spans multiple potential economic cycles; recessions or market downturns could slow development and mute anticipated real estate impacts

Parking and Traffic: Replacing surface lots with mixed-use development could create parking shortages and traffic congestion if not thoughtfully managed

Expert Insight from Tami Price, Realtor®

As a Broker Associate with Real Broker, LLC, specializing in San Antonio’s evolving neighborhoods, Tami Price offers perspective on what the Freeman Coliseum development means for East Side real estate stakeholders.

“When you see developers of Hunt and Lincoln’s caliber commit to a 400-acre, multi-million square foot project near an already busy destination like Freeman Coliseum, it’s a clear sign of confidence in the area’s future,” Tami observes. “This isn’t speculative—it’s a calculated bet on the East Side’s trajectory based on solid fundamentals: the rodeo’s $330 million annual economic impact, voter-approved venue improvements, and pent-up demand for urban-style living near downtown.”

For current East Side homeowners, Tami emphasizes the importance of strategic thinking: “If you own property in Denver Heights, Dignowity Hill, or nearby neighborhoods, you’re likely sitting on an appreciating asset that could see accelerated gains as this project progresses. The question isn’t whether your property will benefit—it’s how to maximize that benefit based on your personal goals.”

Tami identifies several strategic considerations:

For Homeowners Planning to Stay: “Consider making strategic improvements now—updated kitchens, modernized bathrooms, improved curb appeal—that position your home to capture maximum appreciation as the neighborhood elevates. Energy-efficient upgrades and historic character preservation can differentiate your property when you eventually sell.”

For Investors Considering Entry: “The time to acquire East Side properties is before master planning finalizes and before the first phase breaks ground. Once construction begins and early results demonstrate quality execution, prices will adjust upward quickly. Investors should target properties within 1-2 miles of Freeman Coliseum with strong bones and renovation potential.”

For Sellers Evaluating Timing: “There’s a case for selling now if you need to liquidate—prices are already elevated from the past decade’s appreciation. But there’s also a case for holding through at least the first phase completion if you can afford to wait. The key is understanding your personal timeline and financial needs rather than trying to time the market perfectly.”

Regarding community concerns, Tami acknowledges the complexity: “Revitalization projects like this create both opportunities and challenges. Property appreciation is wonderful for owners, but rising taxes can strain long-time residents on fixed incomes. The community needs to advocate for programs like homestead exemptions, tax freezes for seniors and disabled residents, and affordable housing components within the development itself.”

Key Takeaways for Real Estate Stakeholders

For Current Homeowners

Assess Your Position: Understand your property’s current value, tax implications, and potential appreciation based on proximity to the Freeman Coliseum project. Properties within 1-2 miles are most likely to see significant impacts.

Plan Strategically: Decide whether you want to hold through appreciation cycles, make improvements to maximize eventual sale proceeds, or sell now to capture gains already realized from the past decade’s growth.

Protect Against Displacement: If rising taxes threaten your ability to remain in your home, explore homestead exemptions, senior/disability tax freezes, property tax protest procedures, and neighborhood empowerment zone benefits if your area qualifies.

For Prospective Investors

Act During Planning Phase: The highest returns typically accrue to investors who enter during master planning and early construction phases, before widespread market recognition drives prices higher.

Target Renovation Opportunities: Focus on properties with good bones needing cosmetic updates rather than major structural work; these offer best risk-adjusted returns in appreciating markets.

Understand the Timeline: A 15-year buildout means patient capital performs best; if you need liquidity within 3-5 years, ensure you’re buying at prices that already offer sufficient appreciation potential from current market dynamics.

For Developers and Entrepreneurs

Explore Partnership Opportunities: The master developer structure suggests potential for sub-developers, retail tenants, restaurant operators, and service businesses within the district.

Consider Ancillary Properties: Properties just outside the 400-acre core might offer commercial conversion or mixed-use development opportunities as the district expands.

Engage Community: Successful developments integrate community input; businesses and developers who demonstrate commitment to existing residents and minority-owned enterprise participation will build goodwill and navigate approvals more smoothly.

The Bottom Line

The 400-acre Freeman Coliseum redevelopment by Hunt Development Group and Lincoln Property Co. represents San Antonio’s most ambitious East Side revitalization effort to date. With 3.6 million square feet of mixed-use development planned over 15 years, the project could finally deliver on decades of promises to transform the area surrounding the Frost Bank Center into a vibrant, walkable district that benefits both existing residents and attracts new investment.

The real estate implications are substantial. Properties within a 2-mile radius—encompassing Denver Heights, Dignowity Hill, Wheatley Heights, and portions of Government Hill—stand to experience accelerated appreciation, increased rental demand, and enhanced neighborhood amenities. For homeowners, this creates both wealth-building opportunities and challenges around managing property tax increases. For investors, it offers a rare chance to enter an established urban market before a major catalyst fully impacts values.

However, success is far from guaranteed. The project faces a complex 9-12 month master planning process, uncertain funding mechanisms (tax increment zones require approval, parking revenue projections must validate, ground lease terms need negotiation), and the inherent challenges of executing a 15-year vision through inevitable market cycles and economic shifts.

For East Side stakeholders—whether homeowners, investors, business owners, or long-time residents—staying informed about the project’s progress ensures you can make timely decisions aligned with your goals. Understanding how major developments ripple through local real estate markets positions you to capitalize on opportunities while mitigating risks.

The East Side’s evolution continues, driven by developer confidence, coordinated city and county planning, and community demand for revitalization that honors the area’s history while creating new opportunities. The Freeman Coliseum redevelopment could be the catalyst that finally unlocks the East Side’s long-unrealized potential.

Ready to Navigate East Side Real Estate Opportunities?

Tami Price, Broker Associate with Real Broker, LLC, provides expert guidance for buying, selling, and investing in San Antonio’s evolving East Side neighborhoods. Whether you’re a homeowner evaluating your property’s appreciated value, an investor seeking strategic acquisitions before major development impacts prices, or a resident concerned about managing rising property taxes, Tami offers data-driven insights and personalized strategies.

Contact Tami Price, Realtor® today:

? Call or Text: 210-620-6681

? Visit: www.tamiprice.com

✉️ Email: tami@tamiprice.com

Serving Denver Heights, Dignowity Hill, East Side, and all San Antonio neighborhoods with expertise that honors community history while recognizing future potential.

Frequently Asked Questions

Q: Where exactly is the Freeman Coliseum development planned?

A: The 400-acre project surrounds the Freeman Coliseum and Frost Bank Center on San Antonio’s East Side, bordered generally by E. Houston Street and I-35. The development potentially encompasses portions of the city-owned Willow Springs Golf Course and properties owned by the San Antonio Stock Show & Rodeo nonprofit. The exact boundaries will be finalized during the 9-12 month master planning process that began after the Coliseum Advisory Board approved moving forward with negotiations in November 2025.

Q: Who is developing this project?

A: Hunt Development Group (affiliated with El Paso-based Hunt Cos. Inc.) and Lincoln Property Co. are partnering as master developers. They were the sole respondents to Bexar County’s request for proposals issued by the Coliseum Advisory Board in summer 2025. Both companies have extensive experience with large-scale mixed-use developments across Texas and the United States.

Q: When will construction actually begin?

A: The developers are entering a 9-12 month master planning and funding phase as of November 2025. Infrastructure work could potentially begin 12-18 months after planning finalizes, meaning earliest construction might start in late 2026 or early 2027. The full project will be built in phases over approximately 15 years, meaning buildout could extend into the late 2030s or early 2040s depending on market conditions and phasing strategies.

Q: How is this being funded?

A: Potential financing sources include long-term ground leases for county-owned parcels, revenue from parking garages that will replace existing surface lots, and a proposed tax increment reinvestment zone (TIRZ) in which property taxes generated by future development are used to back bonds and reimburse developers for infrastructure improvements. The November 2025 voter approval of $311 million in county hotel and rental car taxes also provides funding for broader Freeman Coliseum and Frost Bank Center improvements that complement the development. Final funding mechanisms will be determined during the master planning process.

Q: Will this hurt or help existing East Side residents and property values?

A: The impact will be complex and vary by individual circumstances. Property values in nearby neighborhoods like Denver Heights and Dignowity Hill will likely appreciate further, creating wealth for homeowners but also increasing property taxes. Long-time residents on fixed incomes may face affordability challenges despite their homes being worth more. Programs like homestead exemptions, senior/disability tax freezes, and potential neighborhood empowerment zones can help mitigate displacement. Renters may face rising rents as property values and desirability increase. The community has emphasized the importance of affordable housing components and local business opportunities within the development to ensure benefits are shared broadly.

Q: What will actually be built in this 400-acre development?

A: The proposal envisions 3.6 million square feet of mixed-use development including housing (likely a mix of apartments, condos, and potentially townhomes), parks and green space, restaurants and dining establishments, retail shops, entertainment venues, hotel accommodations, and structured parking to replace surface lots. The exact mix and design will be determined through the master planning process, with community input opportunities expected. The developers have cited inspiration from successful entertainment districts like the Fort Worth Stockyards, Dickies Arena area, and Dallas’s American Airlines Center district.

Q: How does this relate to the Spurs moving downtown and Project Marvel?

A: The Spurs’ planned move to a new downtown arena in Hemisfair Park (part of Project Marvel) creates an opportunity to reimagine the Freeman Coliseum and Frost Bank Center’s role. With the Spurs departing, the venue complex needs new programming and economic drivers—which the San Antonio Stock Show & Rodeo’s expansion and this mixed-use development aim to provide. The projects are complementary: Project Marvel focuses on downtown entertainment infrastructure, while the Freeman Coliseum redevelopment transforms the East Side into its own destination district. County hotel and rental car taxes approved by voters help fund both initiatives.

Q: Should I buy property near Freeman Coliseum now as an investment?

A: Investment timing depends on your goals, timeline, and risk tolerance. Properties within 1-2 miles of Freeman Coliseum may appreciate significantly as the project progresses, but face a 15+ year buildout with construction impacts and execution risk. The highest returns typically accrue to early investors who enter during planning phases, but this requires patient capital and acceptance of uncertainty. If you’re considering investment, consult with real estate professionals familiar with the East Side market, conduct thorough due diligence on specific properties, and ensure your financial plan accommodates potential holding periods of 5-10+ years to capture full appreciation potential.

Disclaimer

This blog post is for informational purposes only and does not constitute financial, legal, or investment advice. Real estate buyers, sellers, and investors should conduct their own due diligence and consult with qualified professionals before making decisions. Development plans, timelines, and details are subject to change based on approvals, funding, and market conditions.