SAN ANTONIO — A debate is heating up between the San Antonio Spurs and local nonprofit coalition COPS/Metro over the allocation of public funds for Project Marvel, a proposed $4 billion development aimed at transforming the city’s downtown area.
The Spurs, who recently launched their “Win Together Campaign” at Idle Beer Hall & Brewery, argue that the project will generate significant revenue for the city and enhance the urban core. “Our city deserves an urban core that is inclusive, exciting, joyful, accessible and this project will really anchor the urban core of our future,” said Peter N. Holt, Spurs managing partner.
The project is expected to bring in $311 million from tourist-related revenue, such as rental cars and hotel stays. The Spurs have committed to contributing at least $500 million and covering all cost overruns, while the city would provide up to $489 million through various funding mechanisms.
However, COPS/Metro, a coalition of local nonprofits and churches, is advocating for the funds to be redirected to more immediate community needs. “This is about the common good,” said Father Jimmy Drennan, a COPS/Metro leader, during a gathering at St. Margaret Mary Catholic Church. The group is pushing for investment in comprehensive infrastructure development in decaying neighborhoods.
Holt acknowledged the community’s needs, stating, “We understand that our community has tremendous needs. We’ve always put millions and millions of dollars, millions of hours of time and energy and love into the city. We’re willing to step up even more for the future. We’re ready to tackle some of these big projects. We’re not shying away from anything.”
The decision on whether to approve a venue tax that could contribute $311 million to Project Marvel will be in the hands of Bexar County voters on November 4th, as they vote on Proposition B.