‘It’s a big deal’: Capitals, Wizards partner with Virginia for proposed stadium, entertainment district in Alexandria

Monumental Sports, the organization that owns the Washington Capitals and Washington Wizards, Virginia Gov. Glenn Youngkin and Alexandria Mayor Justin Wilson have announced plans that could mean relocating two teams from the District to Potomac Yard.

Virginia Gov. Glenn Youngkin couldn’t be more excited to discuss the plans Wednesday morning inside three tents at 3405 Potomac Avenue in Alexandria with Monumental Sports owner Ted Leonis and city and state officials. the plans of the committee.

“I’m excited to announce that here, at Alexandria’s Potomac Yard, we have a plan to reveal a better, more amazing future,” Youngkin said.

Monumental Sports said the state will partner with the organization to build a new regional sports complex that includes a “new capital and Wizards arena for the region and the new business center for Monumental Sports.”

“This will relocate the NHL’s Washington Capitals and the NBA’s Washington Wizards’ home arena to Virginia beginning in 2028, if the proposal is finalized,” Monumental Sports said.

Leonsis said the plan would allow Alexandria to become a “supercommunity” like one of the ten most popular cities on the planet.

“Our commitment is to build a unique, customer-centric business,” he said, adding that he wants Monumental Sports to work together based on his commitment to the DMV.

Extend to Alexandria

The plan recently received support from Alexandria Mayor Justin Wilson but has not been approved by the state General Assembly or city representatives, who are attending a press conference on Wednesday.

Despite this, Wilson said that this project provided the opportunity to return from the economic challenges of 2020 and the pandemic.

“It’s a great morning to be an Alexandrian,” Wilson told visitors.

The 70-acre project, which includes a large Alexandria stadium, underground parking and another 6,000-seat concert venue will be located next to Amazon’s new HQ2 development in the National Landing area and the new Potomac Yard Metro station.

It will sit alongside Virginia Tech’s New Innovation Campus in the Alexandria section of National Landing.

“The Commonwealth will now be home to two professional sports teams, a new headquarters, and more than 30,000 new jobs — a huge milestone,” Youngkin said in a statement. .

Virginia Tech President Tim Sands said the organization is excited to see plans to bring the Monumental to Potomac Yard.

“We believe in the great potential of this place, and are eager to welcome others who are interested in this community and build a happy and prosperous future together,” said Sands.

“This is a special project that will help the City fulfill our strategic plan and vision for this neighborhood and for our entire city,” Alexandria Mayor Justin Wilson said in a press release Wednesday.

Alexandria officials say the city’s $2 billion investment — paid in part with bonds issued by the proposed new Virginia Sports and Entertainment Authority — is expected to boost economic growth for the city. region, generating $12 billion in economic impact over the next several years. Millions are expected to support affordable housing, housing assistance programs, transportation and education.

The city plans to begin “a public communication process, including a series of community meetings and workshops, which will begin in early 2024.”

Monumental and the City of Alexandria said they will also contribute $56 million to build the new arts center and will not use existing taxes to support the project. There are no tax increases for local people.

“Throughout its history, Monumental Sports has experienced remarkable growth. And, with this national partnership with the Commonwealth of Virginia, the City of Alexandria and JBG SMITH, we look forward to a great future.” stronger,” Leonsis said. “We believe this expansion will allow us to support our commitment to creating a great experience for our fans, employees, and partners.”

Challenge the Potomac Yard

This move to Virginia is not set in stone, however.

Gerren Price, president and CEO of the DowntownDC Business Improvement District, said Tuesday that getting approval from the state and city could be difficult.

“We know that Monumental must evaluate offers from other authorities in order to make the best business decision for their operations, but we strongly believe that keeping these teams in the city is the it has the highest average attendance of any place in the region,” Price. said.

Not everyone likes the idea of ​​a plan to bring the Caps and Wiz to Potomac Yard. @TedLeonsis and @GovernorVA Glenn Youngkin will host a show at 9a. Stay @WTOP pic.twitter.com/1oE6cKf8mT

– Neal Augenstein (@AugensteinWTOP) December 13, 2023

In addition, the people of Alexandria did not have the opportunity to show support or disapproval for the multi-billion dollar investment, which could change the ways of transportation and the cost of living through 2028 changes.

Chief Charniele Herring, who represents the city in the state assembly, said that this work is not finished and voices still need to be heard. within and across the country so as not to affect the most vulnerable people in the country.

“Most importantly, I am encouraged by the discussions held not only about the project as an important economic engine for us but also in prioritizing our values ​​as an organization in its construction and his performance,” Herring said.

Herring said that he is also looking for specific laws that are tailored to the needs of Alexandria.

“We have to make sure that the plans are baked and make a deal that renews our transportation and infrastructure,” he said, adding that it is “necessary for the success of this project.”

Sen. Mark Warner, one of those Alexandrians who was at the press conference on Wednesday, said that this trade structure should be celebrated, but similar trades have been broken before.

“This is the first time we’ve brought professional sports to Virginia, but it’s not the first time we’ve tried,” Warner said.

He also said that all parties need to listen to the concerns and work to do the best for the country as a whole, which Leonsis said is interested in eat

“We will do the right things the right way in every community we serve,” Leonsis said.

What about Capital One Arena?

The modernization of Capital One Arena will be a significant investment.

With unanimous support from the DC Council, this proposal represents our commitment to keeping the Washington Wizards and Washington Capitals where they belong – in Washington, DC.

— Mayor Muriel Bowser (@MayorBowser) December 13, 2023

As for the Capital One Arena, Monumental said, the goal is to continue investing in the arena and renovating the building to accommodate 20,000 people and continue to host events such as concerts and college competition.

“Monumental envisions the Capital One Arena maintaining its position as an important and vibrant center of communication in the city of DC. In addition, in the future, Monumental will be able to establish the many family shows and use annual books and small residences that require long- Planning time, which can not be done now with the changes of seasons from the NBA and NHL scheduled games,” said of the organization.

The WNBA’s Washington Mystics, also owned by Monumental Sports, were not included in the proposal but could find their new home at Capital One Arena if this plan goes through.

“Monumental is excited about the opportunity to renovate Capital One Arena as the future home of the Washington Mystics, increase the company’s investment in the Mystics, create a game-day experience that is exclusive to the Mystics , and allow this winning team to continue to grow the franchise and its community,” the group said.

Monumental Sports said that since Leonsis was the majority owner, he has invested “more than $200 million in the facility – more than the original cost of $170 million to build the stadium.” in 1997.”

“Over the past five years, Monumental has invested or planned investments of more than $125 million – and those green initiatives will continue to be implemented, ensuring that they continue to be available to fans a great experience at Capital One Arena,” Monumental Sports said.

D.C. Mayor Muriel Bowser and Council Speaker Phil Mendelson made their “final and best offer” Tuesday evening after a plan was approved Monday by D.C. lawmakers. 12 states in Virginia’s Major Employment and Investment Project Approval Commission. That deal is critical, in terms of the City and Downtown DC, for the long-term success of downtown DC and the city as a whole.

“The city of DC is the District’s generator of revenue to support important programs in the city. Mr. Leonsis and Monumental Sports have been important partners in maintaining the success of our city, especially after the pandemic,” Bowser said in a news release. “The renovation of Capital One Arena will be an important investment for our continued success and prosperity in the future.”

More information about the project available online.