WASHINGTON — The DC Council is getting in on the Capital One Arena conversation.
The Business and Economic Development Committee is holding a roundtable discussion Wednesday morning to talk about what happens to the arena and surrounding neighborhood if the Wizards and Capitals leave.
The two main topics listed on the agenda are:
- Clarify the other ideas Monumental mentioned to modify its existing commitments to Capital One.
- And, to explore options to redevelop Gallery Place, Chinatown, and Penn Quarter should the teams leave in 2028.
On Monday, Mayor Muriel Bowser officially launched the Gallery Place - Chinatown revitalization task force that's been charged with developing a new vision for the corridor -- and fast.
Task force leadership includes the women behind the Union Market and Yards development.
The mayor also said that if Monumental leaves, the five acres the arena comprises will be up for grabs.
When the company first announced its move back in December, the mayor quickly shared their offer to them with the public.
It comes in the form of legislation authorizing $500 million in funding over a three-year-period to renovate and modernize the arena.
In exchange, Monumental would extend its lease to 2052.
“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,” said Mayor Bowser in a release. “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, D.C.”
Council Chair Phil Mendelson said in his briefing on Monday that he stands by that offer, too.
“It’s my view that until the Virginia deal is done, signed, sealed, delivered, that we should stand behind that offer, and as far as I know, that is what we’re going to do," he said. "And so if Monumental sports wants to change its mind, or if Monumental sports has to change its mind, either way, we’re here for them.”
One factor that has been driving businesses from that corridor since before the move was announced is crime.
D.C. ended 2023 with an increase in violent crime and more homicides than the city has seen in two decades.
D.C.’s Business Improvement District president said Monday that they plan to use city grants to help businesses hire private security in addition to DC Police patrols.
The chair of the council’s public safety committee said they’re committed to making the area feel safer – faster.
Mayor Bowser addressed crime concerns at Monday’s announcement, too.
“We have an unacceptable level of crime not only in the downtown but throughout [the city], so we’re going to listen to the businesses and listen to what our data says and put in place whatever is necessary," she said.
The roundtable discussion starts at 11 a.m. The public can watch online.
Watch Next: DC unveils plan to renovate Capital One Arena