Officials greenlight downtown Missions Stadium From the cover
About the project
San Pedro Creek Development area
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San Antonio City Council voted Sept. 12 and the Commissioners Court voted Oct. 8 to approve the memorandum of understanding. The stadium would accommodate about 7,500 people and is part of the overall ballpark project, which lays out four phases of private development downtown. “We’ve been trying to energize and redevelop downtown for some years. By moving [the stadi- um] to a more dense location, there’s opportunity for businesses to develop around the ballpark,” District 10 council member Marc Whyte said. The San Pedro Creek Development Authority, a new government corporation, will oversee the development and management of the district. The developer is planning for four phases, but only two are agreed upon. It’s estimated the first two phases will create $575 million in taxable value. Construction of the ballpark will begin after breaking ground on Phase 1 and is expected to be completed in time for opening day in April 2028.
Ballpark: completion date by April 2028 Phase 1: estimated completion date 2027 Phase 2: estimated completion date 2029 Phase 3: estimated completion date 2030 Phase 4: estimated completion date 2031 Houston Street TIRZ* TIRZ extension
M A R T I N S T .
TRAVIS ST.
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San Antonio
*A TAX INCREMENT REINVESTMENT ZONE IS AN INSTRUMENT USED TO SUPPORT ECONOMIC DEVELOPMENT AND BUILDING INFRASTRUCTURE WITHIN A SET GEOGRAPHIC BOUNDARY.
CESAR E. CHAVEZ BLVD.
SOURCE: CITY OF SAN ANTONIO/COMMUNITY IMPACT
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Funding the project
Whyte said it’s an integral part of the MOU that the funding for this project will not be taken from general funds or increase residents’ property taxes. “This [project] would have been a nonstarter if it would have taxed our general population, or if we would have been using general funds,” Whyte said. Instead, the SPCDA will issue funds through bonds granted only if the developer breaks ground. Cohen said developers are ready to break ground. “The initial phase of private development is ready to get underway, [and is required] before
there can be issuance of debt to build the ballpark,” Cohen said. Funding will also be granted from the Houston Street tax increment reinvestment zone, which is an instrument used to support economic devel- opment and building infrastructure within a set geographic boundary. The bonds include a pledge of revenue from the Houston Street TIRZ and would be primarily repaid through team proceeds and taxable private development near the stadium.
Estimated taxable value by phase
Phase
Estimated taxable value
1
$300 million
2
$275 million
3
$275 million
4
$150 million
Total
$1 billion
SOURCE: CITY OF SAN ANTONIO/COMMUNITY IMPACT
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