The Spurs Earned Their Downtown Future. Has Project Marvel Earned Ours?
A River Walk Magazine destination intelligence analysis examining Project Marvel, the Spurs' NBA Finals run, downtown San Antonio's $3.33 billion hospitality ecosystem, and what must happen to protect and grow the East Side economy.
Publisher's Perspective
“During my mayoral campaign, I opposed the Spurs' proposed move under Project Marvel because I believed the city had not yet demonstrated a compelling economic case for relocating such an important community asset.
However, after conducting a detailed destination intelligence analysis, reviewing hospitality receipts, tourism infrastructure, and the broader economic ecosystem surrounding downtown San Antonio, my conclusion has evolved.
The data suggests that relocating the Spurs into the River Walk, Convention Center, Alamo, Pearl, and downtown hospitality ecosystem has the potential to generate substantially greater economic activity than the current standalone arena geography.”
The Spurs may have earned their downtown future by building a championship-caliber team capable of reaching the NBA Finals. The larger question now belongs to San Antonio itself.
Can the city leverage that momentum to grow tourism, hospitality, and economic opportunity while ensuring that the East Side continues to benefit from meaningful investment and destination infrastructure?
The answer will determine whether Project Marvel becomes merely an arena relocation—or one of the most important economic development projects in modern San Antonio history.
— Christopher C. Herring
Former San Antonio Mayoral Candidate
President, Global Chamber San Antonio
By River Walk Magazine
Tonight, the San Antonio Spurs begin the 2026 NBA Finals against the New York Knicks. The ESPN truck has arrived and is parked in front of the Historic The Alamo.
For basketball fans, it is a championship series.
For San Antonio, it may be something even bigger.
It may be the first real-world test of the future of Project Marvel. The team performed head and shoulders above any championship expectations after Peter Holt went to the mat against Mayor Gina Jones and community activist who were opposed to the move or leave proposition.
Over the past several weeks, River Walk Magazine built a series of economic intelligence models designed to answer a simple question:
Would moving the Spurs from the Frost Bank Center to downtown create more economic value for San Antonio?
The answer is more nuanced than many people realize..
River Walk Magazine Intelligence Snapshot™
Project Marvel at a Glance
Version 1: The Destination Spillover Theory
The first model examined a concept long discussed by urban planners.
A visitor attending a game downtown behaves differently than a visitor attending a game in an isolated venue.
At the current arena, many fans:
- Attend the game
- Park
- Leave
A downtown arena creates opportunities for visitors to:
- Stay in hotels
- Eat at restaurants
- Visit the River Walk
- Explore the Alamo
- Attend conventions
- Visit Market Square
- Spend additional dollars before and after games
The first model suggested that if downtown spillover is real, Project Marvel could generate significantly greater economic activity than the current arena geography.
“During my mayoral campaign, I opposed the Spurs' proposed move under Project Marvel because I believed the city had not yet demonstrated a compelling economic case. After reviewing the destination intelligence, hospitality receipts, and economic ecosystem data, my conclusion evolved. The data suggests the downtown location has the potential to generate substantially greater economic activity—but only if San Antonio simultaneously creates a replacement economic engine for the East Side.”
— Christopher C. Herring
Publisher, River Walk Magazine
Former San Antonio Mayoral Candidate
Version 2: The Receipts Reality Check
The second model replaced assumptions with actual hospitality receipts.
The findings were striking.
The current Frost Bank Center zone generated approximately:
$270 million
in measured hospitality receipts.
The proposed Project Marvel downtown zone generated approximately:
$3.33 billion
in hospitality receipts.
In other words, the downtown ecosystem is already more than:
12 times larger
than the current arena ecosystem.
That finding changes the debate.
The question is no longer whether downtown is bigger.
The data clearly shows that it is.
The real question becomes:
How much of that existing downtown economy can the Spurs activate and amplify?
Even a modest capture of downtown activity could equal or exceed the entire current arena-zone economy.
The hospitality ecosystem surrounding the proposed Project Marvel district is approximately 12.3 times larger than the current Frost Bank Center arena zone based on measured hospitality receipts.
What This Means
Project Marvel is not moving the Spurs into an empty district. It is moving them into a tourism and hospitality ecosystem that already includes the River Walk, Convention Center, Alamo, Market Square, Pearl, hotels, restaurants, and nightlife.
Version 3: The East Side Question
The third model revealed something equally important.
Project Marvel is not simply about downtown gains.
It is also about East Side losses.
The current Frost Bank Center and surrounding area support:
- Sports tourism
- Concert activity
- Hospitality spending
- Visitor traffic
The East Side economy cannot simply be ignored.
The analysis showed that the strongest overall outcome occurs when two things happen simultaneously:
- Downtown successfully captures new visitor spending.
- The East Side receives a replacement destination strategy.
That strategy could include:
- The San Antonio Stock Show & Rodeo
- Entertainment districts
- Festival grounds
- Sports complexes
- Mixed-use development
- Military and veteran tourism infrastructure
✓ Project Marvel is fundamentally a tourism strategy
✓ East Side replacement is essential
✓ Stock Show & Rodeo should remain a major East Side anchor
✓ NBA Finals demonstrate the power of sports tourism
✓ Military City USA remains one of SA's largest visitor economies
In other words:
Project Marvel succeeds most when San Antonio grows two economic engines instead of moving one.
Did the Spurs Earn Public Support?
The timing of the Spurs' return to the NBA Finals could not be more significant.
For years, supporters of Project Marvel argued that a modern downtown arena would help attract major events, increase tourism, and elevate San Antonio's national profile.
Now the Spurs have provided something that no economic model can manufacture:
A championship-caliber team.
Winning changes public perception.
Winning increases television exposure.
Winning attracts visitors.
Winning strengthens sponsorships.
Winning increases franchise value.
Winning creates momentum.
The Spurs reaching the NBA Finals does not prove that Project Marvel is the right decision.
But it does strengthen the argument that investing in a championship organization creates measurable economic opportunities that extend far beyond the basketball court.
Project Marvel Scorecard
| Tourism Impact | ★★★★★ |
| Hospitality Impact | ★★★★★ |
| Sports Tourism | ★★★★★ |
| East Side Risk | ★★★★☆ |
| Economic Potential | ★★★★★ |
The Bigger Discovery
The most important finding from this analysis may not be about Project Marvel at all.
It is about San Antonio itself.
The city is powered by multiple destination engines:
- River Walk
- The Alamo
- Convention Center
- Pearl
- La Cantera
- Airport
- Medical Center
- JBSA
- SeaWorld
- Fiesta
- Stock Show & Rodeo
- Spurs Basketball
The future of San Antonio is not determined by a single project.
It is determined by how effectively these engines work together.
Project Marvel may ultimately become one of those engines.
The real opportunity is ensuring that every part of the city shares in the growth that follows.
