Spurs Sports & Entertainment have picked the developers to work on the downtown basketball arena project. The project was approved by voters last November.
Partner Companies Announced
Spurs Sports & Entertainment announced the partner companies on Wednesday. These firms will lead parts of the development project. The project includes the downtown arena and the surrounding entertainment district.
The firms chosen are Marquee Development, Sasaki, Overland International, Pape-Dawson, CAA ICON, Stafford Sports, Goldman Sachs, Hunton Andrews Kurth and Jorge Rodriguez Financial Consulting.
- Pape-Dawson
- Jorge Rodriguez Financial Consulting
Pape-Dawson and Jorge Rodriguez Financial Consulting are based out of San Antonio. The rest are nationally or internationally based.
Leadership’s Perspective
RC Buford, CEO of SS&E, said that they are bringing the right partners together. Buford stated that the aim is to deliver something San Antonio can be proud of. He added that they are combining world-class capabilities with local insight. This is to ensure the project reflects the character of the city and creates meaningful opportunities for the community.
City Council’s Involvement
Last week, City Council voted to hire an international consulting firm. Accenture Infrastructure and Capital Projects, LLC will oversee management of the development project.
Funding Framework
Back in November, voters approved allocating tens of millions in county tax dollars to a new Spurs arena. This triggered the terms of an earlier agreement between the city and the team. The agreement constitutes the funding framework.
The Spurs are set to pay $500 million to build the arena. Bexar County will contribute $311 million via venue tax allocations. The City of San Antonio will contribute up to $489 million through bonds repaid by future lease payments from the Spurs, state hotel revenues and the downtown Tax Increment Reinvestment Zone. The Spurs would be on the hook for cost overruns.