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San Antonio Ballpark Could Spark Further Investment
Build it, and they will come. That’s the mantra of the San Antonio Mission ownership and they hope the construction of a $160 million downtown ballpark will spark a much larger development spree.
The private investment tied to the ballpark is expected to include a mix of hospitality, residential and other new economic development activity.
The San Antonio Business Journal reports that new development would generate additional tax revenue that would flow into the city’s existing Houston Street Tax Increment Reinvestment Zone, providing a funding source for the construction of an approximately 8,000-seat stadium in northwest downtown. It’s hoped the stadium would be completed by the 2028 season.
The private backing would come from Missions ownership and especially a key part of that group, Weston Urban co-founders Graham Weston and Randy Smith.
The private investment would occur in four phases. The first two phases would represent about $575 million and would be completed by 2029, according to city officials. The latter two phases of development would wrap up by 2031.
Tomorrow afternoon, hear from and meet with the industry’s leaders and power players at the 6th annual Connect Texas Multifamily in Dallas! Get expert insights from Legacy Partners, Tower Capital, Transwestern, Kairoi Residential, Lument, TruAmerica Multifamily, LaTerra Development, Helu Capital, Institutional Property Advisors, RCKRBX, Greystone, ZOM Living, KFM Engineering & Design, and more. Don’t miss out on the most anticipated event of the year that brings together the most active investors, owners, developers, forecasters, managers, brokers, lenders, and others that are doing business in Texas. Register online or onsite, and we’ll see you tomorrow at the Virgin Hotels Dallas venue!
- ◦Development
