A new Spurs stadium downtown will house Project Marvel, the city’s proposed sports and entertainment district.
Spurs Sports & Entertainment has hired a group of real estate, architectural, engineering, construction and financial advisory firms to plan and build its $1.3 billion downtown stadium.
Architecture firm Overland International will design the stadium on the former site of the Texas Institute of Cultures in Hemisfair. The Dallas-based firm has several offices nationwide and has worked on AT&T Stadium, the Cotton Bowl, US Bank Stadium and Kawasaki Arena, among other sports venues.
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Chicago-based Marquee Development will lead the development of retail and hospitality projects and “community-focused spaces” around the stadium.
The firm is the real estate arm of the Ricketts family, majority owners of the Chicago Cubs and Chicago Stars. He has spearheaded mixed-use projects around sports facilities such as Wrigley Field, Target Field and Nissan Stadium.
CAA ICON will manage the construction of the stadium and surrounding development. The project management firm’s portfolio includes the Oklahoma City Thunder’s future stadium, the Toyota Center where the Houston Rockets play, and the Delta Center, home of the Utah Jazz.
Global design firm Sasaki, which recently created a master plan for an arboretum on San Antonio’s south side, will be in charge of planning the arena district.
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Pape-Dawson, based in San Antonio, will lead the surveying and environmental, civil and traffic engineering work.
Stafford Sports, a national firm that worked on the Frost Bank Center, will provide strategic planning and advisory services, and Wall Street giant Goldman Sachs will serve as a financial advisor.
San Antonio-based Jorge Rodríguez Financial Consulting and global law firm Hunton Andrews Kurth LLP will provide financial consulting and legal services.
“We are bringing together the right partners to deliver something San Antonio can be proud of,” SS&E CEO RC Buford said in a statement.
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The stadium is the centerpiece of city officials’ proposed sports and entertainment district, known as Project Marvel.
SS&E will contribute $500 million to the stadium and cover any construction cost overruns. Up to $311 million comes from Bexar County, and the city is contributing $489 million.
SS&E plans to build $1.4 billion worth of projects around the stadium over a 12-year period.
Surrounding development is tied to public financing of the stadium, as increasing property tax revenue from the projects will be used to back bonds to build the facility.
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The city is seeking to acquire the site where the University of Texas at San Antonio stadium will be built, and nearby properties where the development would be built from the federal government. The city will lease the sites to SS&E.
The projects will be developed in phases and the first phase must be worth at least $500 million, according to a specification between SS&E and the city.
That phase would be completed when the arena opens and would include a boutique hotel that could host visiting NBA teams.
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SS&E’s lease for the county-owned Frost Bank Center extends through 2032.