- San Antonio plans to acquire three federal properties for $30M to advance Project Marvel, featuring a new Spurs arena and mixed-use district.
- Spurs Sports & Entertainment will front the purchase cost as part of a public-private funding arrangement.
- The office building on the site will be leased back to the federal government for up to five years post-acquisition.
- The land transfer unlocks improved Hemisfair access and positions the area for long-term redevelopment.
Project Marvel Momentum Builds
San Antonio is moving closer to finalizing a $30M land deal for three federally owned parcels near Hemisfair, per The Real Deal. The purchase is a key step in the city’s Project Marvel initiative. Backed by Spurs Sports & Entertainment, the plan includes a new NBA arena and a surrounding mixed-use district. The project is part of broader efforts to redevelop downtown.
Strategic Land Deal Details
The targeted sites include a federal office building at 727 East César E. Chávez Boulevard and parking lots at 610 and 611 Indianola Street. Spurs Sports & Entertainment will front acquisition funds, with city council set to vote on the purchase in mid-January. The city projects a 90–120 day federal review following offer submission. A leaseback will allow the federal government to occupy the office building for up to five years, generating rental income to offset costs.
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Unlocking Hemisfair Access
City officials say federal ownership of the land has long restricted public and vehicle access to Hemisfair. It has also discouraged local investment. By taking local control, San Antonio aims to better connect the site with the urban core. The move would allow for new entrances, improved wayfinding, and support the area’s growth into a dense entertainment hub anchored by a new arena. Similar leaseback arrangements have been used in other cities to maintain continuity during major venue transitions, reflecting a growing trend in how municipalities structure large-scale redevelopment deals.
Broader Redevelopment Scope
Project Marvel extends beyond the arena, envisioning the expansion of the Henry B. González Convention Center, a 1,000-room hotel, a 5,000-seat venue, and 50 acres of mixed-use development. The Project Finance Zone allows San Antonio to collect up to $2B in hotel taxes over 30 years, further fueling planned investments. The city expects to contribute $490M and the Spurs organization $1B to the overall district redevelopment.
