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Missions ballpark bond plan to spur $1B entertainment district

$160M stadium financing pitched amid pressure from Major League Baseball

Weston Urban’s Randy Smith and the San Antonio (Getty, EricEnfermero/CC BY-SA 4.0/via Wikimedia Commons, financialexecutives, westonurban)
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Key Points

AI Generated.
This summary is reviewed by TRD Staff.
  • The San Antonio City Council approved a plan to build a $160 million, 8,000-seat stadium.
  • A public entity, the San Pedro Creek Development Authority, will own the stadium and help finance its construction through bonds.
  • The stadium is intended to be the new home of the San Antonio Missions, a Minor League Baseball team.

 

San Antonio has taken a major step toward bringing minor league baseball downtown and potentially unlocking a billion-dollar wave of development.

City Council this week approved the creation of the San Pedro Creek Development Authority, a public entity that will own the proposed $160 million, 8,000-seat stadium and help finance its construction, the San Antonio Business Journal reported. The development authority will issue bonds to finance the stadium, with the goal of completing construction by 2028.

The City of San Antonio and Bexar County will jointly oversee the project, which supporters say could anchor up to $1 billion in surrounding mixed-use development, transforming a sleepy stretch of downtown into an entertainment destination.

The venue would rise in the northwest quadrant of downtown, near the San Antonio Independent School District’s headquarters. The district recently cleared the way for a potential land sale.

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The future stadium is set to become the home of Minor League Baseball’s San Antonio Missions, a Double-A affiliate of the San Diego Padres that plays at Nelson Wolff Stadium on the city’s West Side. 

The ballpark push is being led by local investment group Designated Builders LLC, which acquired the Missions franchise in 2022 from longtime owner Dave Elmore. The group includes Weston Urban co-founders Graham Weston and Randy Smith, Spurs Chairman Peter J. Holt and local media and business figures.

The clock is ticking. Major League Baseball, which oversees the minor leagues, has pressured San Antonio to upgrade its facilities or risk losing the team. 

Years of failed stadium efforts later, officials and investors say this version has the framework and political support to cross the finish line. 

— Judah Duke

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