WASHINGTON (DC News Now) — Virginia Gov. Glenn Youngkin is expected to announce details of a plan to lure two major sports teams to Northern Virginia on Wednesday morning.
In a release sent to news media Tuesday, the Governor’s office said Youngkin will discuss a “remarkable economic development project.”
The announcement comes on the heels of news that Virginia state lawmakers voted to advance plans to try and bring the Washington Wizards and Washington Capitals to Potomac Yard. The Washington Post first reported on the matter Monday.
Currently, the two teams play at the Capital One Arena in Chinatown.
According to 8News, sources said the proposed plan includes a $2 billion investment in a mixed-use development, which includes a 20,000-seat arena and a concert venue.
The news was met with mixed reviews from people who live in the area.
James Haverty has lived in Potomac Yard for 20 years and said that the news does not appeal to him.
“If I want to go to something, I’d go downtown,” he said. “Living in the suburbs had an advantage of living in the suburbs. Now the city is closely encroaching on the area and it is causing a lot more headaches as far as living here.”
He believes an arena will lead to more congestion and higher rent rates.
Still, others said they can see the benefits.
“I think it’s good to see the neighborhood get developed and to bring more people here and foot traffic here,” said Z. Johnson, who lives in the area. “It’ll be interesting to see what they’re thinking of doing.”
The plan is not a done deal and will require votes at both the state and local level in Virginia.
Because of that, D.C. stakeholders are urging District officials to continue efforts to keep the teams in D.C.
“We believe these teams belong in D.C.,” said Gerren Price, President and CEO of the Downtown DC BID. “We believe the city should continue to do all it can to stay in the fight to make sure the offer we put on the table demonstrates commitment and seriousness.”
Price said losing the teams would have a huge impact on the downtown and Chinatown areas.
“Losing our home sports team would really have an impact both economically but I also think there’s an impact to what it means in terms of the emotional connection to the city and downtown,” he said.
The Wizards and Capitals have called Capital One Arena home since 1997.
D.C. Mayor Muriel Bowser would like to see it stay that way.
Late Tuesday night she announced legislation that would allocate half a billion dollars to modernize and “create a state-of-the-art urban arena” in Chinatown.
In a statement, Bowser said:
“Downtown DC is the District’s economic engine that provides revenue resources to support important programs in the city. Mr. Leonsis and Monumental Sports have been critical partners in keeping our downtown thriving, especially after the pandemic. The modernization of the Capital One Arena will be an invaluable investment for continued success and our future prosperity. This proposal represents our best and final offer and is the next step in partnering with Monumental Sports to breathe new life and vibrancy into the neighborhood and to keep the Washington Wizards and the Washington Capitals where they belong – in Washington, DC.”
Youngkin is expected to speak about the two team’s move at 9 a.m. Wednesday.
