After years of persistent efforts by city leaders, San Antonio is on the cusp of realizing its dream of a new downtown baseball stadium. This transformative project, backed by a unique public-private partnership, promises to revitalize the city's urban core and solidify its position as a thriving sports and entertainment destination.

Unlocking the Potential of San Antonio's Urban Renewal

Leveraging Tax Increment Reinvestment Zones (TIRZ) for Economic Development

The city's plan to build the new baseball stadium hinges on the strategic use of a Tax Increment Reinvestment Zone (TIRZ), a powerful tool for driving economic growth in targeted areas. By designating a specific geographical zone as a TIRZ, the city and county can channel the incremental property tax revenue generated within that zone to fund infrastructure improvements and spur further development. This approach allows the city to harness the natural growth in property values to finance the stadium project, without diverting resources from other essential municipal services.

Partnering with Private Developers to Accelerate Growth

To expedite the process of increasing property values, the city and county have forged a unique partnership with Weston Urban, a private development group. Weston Urban has committed to investing approximately $550 million in new projects near the stadium site, which will significantly boost the tax base within the designated TIRZ. This private-public collaboration not only reduces the financial burden on the city and county but also aligns the interests of all stakeholders to ensure the success of the overall development plan.

Expanding the Houston Street TIRZ to Accommodate the Stadium

The new baseball stadium will be situated within the existing Houston Street TIRZ, which has been instrumental in funding various downtown improvements since its inception in 1999. To accommodate the stadium project, the city is expanding the boundaries of the Houston Street TIRZ by incorporating properties from the West Side TIRZ. This strategic move ensures that the necessary tax increment revenue will be available to support the stadium's construction and ongoing operations, without compromising the funding for other important initiatives in the area.

Mitigating Risks and Ensuring Accountability

The city and county have structured the deal in a way that minimizes the public's financial exposure. Weston Urban, the private developer, is shouldering the majority of the risk, committing to deliver the promised $550 million in development by 2029. If the developer falls short of this target, they are still required to pay the equivalent amount in taxes to support the stadium's debt service, protecting the public's investment. Additionally, the city and county will closely monitor the progress and ensure that the development goals are met, maintaining transparency and accountability throughout the process.

Securing the Future of the San Antonio Missions

The new downtown stadium is not just about urban renewal; it's also about preserving the legacy of the San Antonio Missions, the city's beloved minor league baseball team. Major League Baseball has made it clear that the team's current home, the aging Nelson Wolff Stadium, requires significant upgrades to meet their standards. By building a state-of-the-art facility in the heart of the city, the Missions can continue to thrive and provide entertainment for generations of San Antonio residents and visitors alike.

Transforming the City's Skyline and Enhancing the Fan Experience

The new downtown baseball stadium will not only serve as a catalyst for economic development but also as a landmark that will redefine San Antonio's skyline. Strategically located near the San Pedro Creek project and the bustling downtown area, the stadium will offer fans a unique and immersive experience, seamlessly integrating the city's rich history and vibrant culture. With modern amenities, enhanced accessibility, and a prime location, the stadium is poised to become a source of civic pride and a destination for sports enthusiasts and tourists alike.