The price tag for San Antonio’s planned Sports and Entertainment District may be higher than expected.
Today city employees told city council members the planned expansion for the Henry B. Convention Center could cost $850 million. That’s up $100 million from the previous estimate.
Officials blame the huge price jump on the increase of cost of construction materials.
The city now wants to split the expansion into two phases with the first phases costing $700 million, and holding off on the second phase until the cost of construction materials drops.
But city council members are raising questions about the financing cost of the larger Sports and Entertainment District.
“If it doesn’t meet the mark in terms of financing, what’s the next step,” Ric Galvan asked. “Does the project collapse? Does it adjust, or does the money come from somewhere?”
Construction of the project could begin in late 2028, or early 2029.