Courtesy Photo / Grand Hyatt
The proposed sports district, dubbed "Porject Marvel" by city officials, would be located at Hemisfair near the Grand Hyatt Hotel and Henry B. Gonzalez Convention Center.
That newly uncovered total eclipses estimates for the project previously reported by local media, which primarily focus on the estimated $1.2 billion cost for a new Spurs arena at the heart of the project.
A total cost of nearly $4 billion would make the proposed development on the Institute of Texas Cultures' former site among the nation's most-expensive sports districts, second only to Los Angeles' $5 billion-plus SoFi Stadium District, which features a world-class 70,000-seat NFL stadium.
Already, the proposed cost of the Spurs arena at the heart of the proposed district, dubbed "Project Marvel," would be the second-most expensive NBA stadium, just behind San Francisco's Chase Center and tied with Milwaukee's Fiserv Stadium.
Citing anonymous sources, the Express-News previously reported that the Spurs have pledged to cover $240 million of the arena's cost. This means the city and county would have to come up with the rest.
Project Marvel also calls for an expansion of the Henry B. Gonzalez Convention Center, significant upgrades to the Alamodome — which still lacks a main tenant — a new convention center hotel and possibly a land bridge, according to the Express-News.
The $3-4 billion figure in the email accessed by News4SA suggests that list of additional projects could blow past the cost of constructing the arena at the development's center.
It's unclear who would foot the bill for those add-ons. However, it's worth mentioning that the San Antonio's existing 1,000-room Grand Hyatt Hotel, which is connected to the convention center, was funded in part with a $208 million empowerment zone bond backed by citywide hotel taxes.
Stay tuned.
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