ALEXANDRIA, Va. — One week after the major announcement to potentially move the Washington Capitals and Wizards arena to Alexandria, Gov. Glenn Youngkin is working to drum up excitement and support amid budget talks.
The proposal for Monumental Sports and Entertainment to build a sports and entertainment district at Potomac Yard is touted to bring in $12 billion in economic contributions over several decades. The multi-billion-dollar development would sit next to the new Potomac Yard Metro stop.
Since the proposal was introduced, calls for addressing traffic improvement needs, parking and infrastructure projects have been amplified.
During his budget presentation on Wednesday, Youngkin said a “world-class transportation plan” is critical to make the project a success.
“This is a Virginia project,” Youngkin said. “I don't think this is a moment for us to inject partisan politics into something that is universally good for the Commonwealth. It's not being championed by one party versus the other, but we all came together and demonstrated that we do support this on a bipartisan basis and we need everyone to get this done.”
Although the proposal will have little impact on the budget itself, Youngkin said it could take up to $500,000 to help finalize the deal, although it would have to go through the Democratic-run Virginia General Assembly.
In a recent post on X, formerly known as Twitter, Chairman of the Senate Finance and Appropriates Committee Sen. L. Louise Lucas (D-District 18) said she would rather approve tax dollars to deliver on toll relief and public schools over an arena.
Youngkin said the Commonwealth won’t pay money upfront, and that the Virginia Sports and Entertainment Authority will issue bonds to the company to fund construction which are expected to be paid back.
However, before any of that, local and federal officials need to determine what supporting traffic improvement will look like. It was announced that Virginia plans to invest up to $200 million for certain traffic projects, although which ones are still unclear.
“As the governor tries to make the case, that transportation component is going to be huge if they want to be successful,” said Sen. Mark Warner (D-VA).
Since the announcement, Alexandria Councilwoman Alyia Gaskins, who is running for mayor, said she’s been receiving hundreds of calls and emails from residents from varying viewpoints. There’s been 25,000 visits to the Alexandria Economic Development Partnership, per Gaskins.
“I am hopeful,” Gaskins told WUSA9. “This deal doesn't work if Metro doesn't work. This deal doesn't work if there aren't transportation investments.”
The city is preparing to launch its community engagement period next month.