Spurs Sports & Entertainment has revealed a consortium of developers for their new downtown arena.
SAN ANTONIO — The Spurs have chosen several developers to work on the downtown basketball arena project approved by voters last November.
Spurs Sports & Entertainment announced a group of partner companies Wednesday that will lead various part of the development project, which includes the downtown arena and surrounding entertainment district.
The firms include Marquee Development, Sasaki, Overland International, Pape-Dawson, CAA ICON, Stafford Sports, Goldman Sachs, Hunton Andrews Kurth and Jorge Rodriguez Financial Consulting.
Pape-Dawson and Jorge Rodriguez Financial Consulting are based out of San Antonio. The rest are nationally or internationally based.
“We are bringing together the right partners to deliver something San Antonio can be proud of,” said RC Buford, CEO of SS&E. “We are combining world-class capabilities with local insight to ensure this project reflects the character of our city and creates meaningful opportunities for our community.”
Last week, City Council voted to hire international consulting firm Accenture Infrastructure and Capital Projects, LLC to oversee management of the development project.
Back in November, voters approved allocating tens of millions in county tax dollars to a new Spurs arena, triggering terms of an earlier agreement between the city and the team that constitutes the funding framework.
The Spurs is set to pay $500 million to build the arena, while Bexar County will chip in $311 million via venue tax allocations. The City of San Antonio will contribute up to $489 million through bonds repaid 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.