Alexandria, Va. recently announced that negotiations to bring the NHL’s Washington Capitals and NBA’s Washington Wizards to the city have ended. The proposal to create a development district with a new arena for the teams will not move forward.
Following Alexandria’s announcement, the Wizards and D.C. Mayor Muriel E. Bowser were reportedly finalizing a deal to keep the teams in Washington at Capital One Arena through 2050. The city will provide $515 million to modernize the current arena. Ted Leonsis had previously announced plans to relocate the teams to Alexandria as part of a larger mixed-use development project.
Despite this setback, Alexandria expressed disappointment in the outcome of negotiations, which were hindered by Governor Glenn Youngkin blocking an incentive plan in the state’s General Assembly. The city believed that the Potomac Yard Entertainment District opportunity was worth discussing and participating in good faith. They engaged in substantial community engagement that informed negotiations and would have made the proposal better for the community’s future.
Governor Youngkin stated that personal and political agendas drove away Alexandria project, leading to its end. However, he mentioned that he understood that it was important for Alexandria to continue pursuing economic opportunities to enhance its quality of life and economic health, which is what they plan on doing moving forward.
