San Antonio Missions Unveil $160 Million Downtown Stadium Plan

The proposal was formally introduced at a San Antonio City Council meeting on August 14, 2024, marking a major step toward revitalizing the downtown area and ensuring the future of professional baseball in San Antonio. The new facility is intended to replace the aging Nelson Wolff Stadium, which opened in 1994 and has been deemed inadequate by Major League Baseball’s updated standards for minor league facilities.

A Diverse Ownership Group with a Vision

The new ownership group for the San Antonio Missions is a powerhouse lineup of local entrepreneurs, civic leaders, and sports legends, combining their expertise to enhance the city’s sports and entertainment offerings. Graham Weston, known for his transformative urban development projects, brings his extensive experience from redeveloping San Antonio’s downtown, including iconic landmarks like Frost Tower and Legacy Park. Under Peter J. Holt’s leadership as Chairman of Spurs Sports & Entertainment, the Spurs secured five NBA championships, underscoring his commitment to excellence. Bruce Hill, a part-owner of the Spurs, and Bob Cohen, with decades of experience in media, sports, and entertainment, round out the leadership.

Adding to the star power, sports legends Roger Clemens and Craig Biggio have joined the Ryan Sanders ownership group, bringing their significant influence and investment to the Missions. This diverse and experienced ownership is dedicated to making the stadium project a success, aiming to deliver a premier destination for baseball fans and the broader community.

Funding and Financing the Stadium

The new stadium, with a planned seating capacity of 4,500 fixed seats and a total capacity of 7,500, will be a multi-purpose venue designed to host a variety of events beyond baseball. Funding the $160 million project will involve a mix of public and private investment, including a substantial equity contribution from the Missions’ ownership group. The San Pedro Creek Development Authority will issue bonds, supported by revenue from the Houston Street Tax Increment Reinvestment Zone (TIRZ). The TIRZ allows the San Antonio City Council to earmark property taxes within the zone for economic development, a crucial tool under Texas state law.

Ben Gorzell, Chief Financial Officer for the City of San Antonio, provided an overview of the financing during the council meeting. The funding strategy includes a $34 million contribution from the Missions, property tax increments from the first two phases of nearby development, lease payments totaling $18 million over 18 years, and a $2 ticket fee. These funds, combined with revenue from future development phases, are projected to cover 86% of the stadium’s costs. If all phases are completed by 2031, the project could generate over $1 billion in taxable revenue, bolstering the city’s financial health.

Should the taxable value from the initial development phases exceed expectations, the need to tap into existing TIRZ funds may decrease, potentially freeing up resources for other economic development projects. The stadium is slated for completion by Opening Day in April 2028, a timeline aligned with the Missions’ current lease at Nelson Wolff Stadium, which runs through 2031.

Collaborative Effort for a Modern Facility

The push for a new stadium comes after MLB raised its facility standards in 2022, putting pressure on minor league teams like the Missions to upgrade their venues. The current ownership group has made it clear that extensive renovations to Nelson Wolff Stadium would be insufficient to meet these requirements, prompting the need for a new ballpark. The City of San Antonio, Bexar County, and the Missions’ ownership group have worked closely on this proposal, ensuring that the new facility will meet MLB’s standards while also serving as a catalyst for downtown revitalization.

The proposed stadium is part of a larger downtown redevelopment plan that will unfold in four phases, expected to be completed by 2031. The initial two phases, guaranteed to generate $575 million in taxable revenue, are key to funding the stadium. Phases three and four could add another $425 million in new projects, creating a vibrant hub around the ballpark.

City officials expressed optimism that the development would exceed expectations, potentially reducing the reliance on TIRZ funds and allowing for further investment in San Antonio’s growth. As discussions progress, the city, county, and ownership group will continue to refine the plans and agreements necessary to bring this ambitious project to fruition.

Looking Ahead

The San Antonio Missions’ new stadium represents more than just a new home for the team; it is a strategic investment in the city’s future, blending sports, entertainment, and economic development. With a high-profile ownership group and a robust financing plan, the project is poised to be a transformative addition to downtown San Antonio, ensuring that professional baseball remains a beloved part of the community for generations to come. As the city prepares for groundbreaking and looks ahead to Opening Day 2028, the excitement surrounding the new stadium continues to build, promising a bright future for San Antonio’s baseball fans and the city at large.