Wizards and Caps could be moving to Potomac Yard

[Anonymous]

But Chinatown hasn't changed, right guys?

https://www.wusa9.com/article/money/business/clydes-email-threaten-to-close-crime-not-addressed-in-dc/65-0d63f5c4-b736-4d38-9ec3-08af2f4548fe

[Anonymous]

Anonymous wrote:

Anonymous wrote:DC needs to pass quickly whatever legislation is necessary to fund at least the 500M if not Ted's original request of 600M. No waiting. No delays. No excuses. No agreement to submit later. Needs to be passed and signed into DC law. Funding of course should be conditioned upon the teams staying in DC.

They already have all councilmembers and the Mayor on the record with the offer.

The money isn't the issue. Youngkin, an old colleague and friend of Leonsis, was able to secure 70 acres and 2 billion dollars for Ted to move the teams. DC has no land or cash to meet that offer. Of course, the VA State Assembly also has to approve the cash part of Youngkin's offer and small business traditional conservatives and democrats are not interested in giving billionaires cash, so it will be interesting to see how this evolves.

Further, while at the time of the press conference, the Alexandia local politicos seemed to be on board, now that the local residents and others are looking at the reality of moving 20,000+ people in and out of that area hundreds of times per year, the stark facts of the inappropriateness of the site are surfacing.

If it's not an arena, it's housing. And a lot more than 20,000 fit into 70 acres.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DC needs to pass quickly whatever legislation is necessary to fund at least the 500M if not Ted's original request of 600M. No waiting. No delays. No excuses. No agreement to submit later. Needs to be passed and signed into DC law. Funding of course should be conditioned upon the teams staying in DC.

They already have all councilmembers and the Mayor on the record with the offer.

The money isn't the issue. Youngkin, an old colleague and friend of Leonsis, was able to secure 70 acres and 2 billion dollars for Ted to move the teams. DC has no land or cash to meet that offer. Of course, the VA State Assembly also has to approve the cash part of Youngkin's offer and small business traditional conservatives and democrats are not interested in giving billionaires cash, so it will be interesting to see how this evolves.

Further, while at the time of the press conference, the Alexandia local politicos seemed to be on board, now that the local residents and others are looking at the reality of moving 20,000+ people in and out of that area hundreds of times per year, the stark facts of the inappropriateness of the site are surfacing.

If it's not an arena, it's housing. And a lot more than 20,000 fit into 70 acres.

Not with the transportation issues that site has

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DC needs to pass quickly whatever legislation is necessary to fund at least the 500M if not Ted's original request of 600M. No waiting. No delays. No excuses. No agreement to submit later. Needs to be passed and signed into DC law. Funding of course should be conditioned upon the teams staying in DC.

You're in denial. It's not the money, it's the rampant crime.

It the land and the money. I am in Gallery Place all the time, it is not much different than it ever has been. Yes, there is more crime. It is what it is. We don't live ina dystopian hellscape.

But you don't really believe this, do you?

Maybe I have thicker skin.

[Anonymous]

Anonymous wrote:But Chinatown hasn't changed, right guys?

https://www.wusa9.com/article/money/business/clydes-email-threaten-to-close-crime-not-addressed-in-dc/65-0d63f5c4-b736-4d38-9ec3-08af2f4548fe

Our business is enjoying record profits right now (despite the problems in Gallery Place) but we may close when the teams move.

If the crime were such an issue, that particular location wouldn't be very profitable, now would it?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DC needs to pass quickly whatever legislation is necessary to fund at least the 500M if not Ted's original request of 600M. No waiting. No delays. No excuses. No agreement to submit later. Needs to be passed and signed into DC law. Funding of course should be conditioned upon the teams staying in DC.

You're in denial. It's not the money, it's the rampant crime.

It the land and the money. I am in Gallery Place all the time, it is not much different than it ever has been. Yes, there is more crime. It is what it is. We don't live ina dystopian hellscape.

But you don't really believe this, do you?

Maybe I have thicker skin.

I'll be sure to tell my young children to develop thicker skin. Or... maybe I just won't go to Chinatown and will take my kids (and my $) to Potomac Yards.

[Anonymous]

Anonymous wrote:

Anonymous wrote:But Chinatown hasn't changed, right guys?

https://www.wusa9.com/article/money/business/clydes-email-threaten-to-close-crime-not-addressed-in-dc/65-0d63f5c4-b736-4d38-9ec3-08af2f4548fe

Our business is enjoying record profits right now (despite the problems in Gallery Place) but we may close when the teams move.

If the crime were such an issue, that particular location wouldn't be very profitable, now would it?

That story doesn’t even mention profits. What it does say is that Clyde’s will close that location if crime isn’t reduced, and even if crime is reduced, Clyde’s will close that location if the Wizards and Capitals leave.

[Anonymous]

Is this all just a ploy to get the District to pay attention, fund the renovation of the Verizon Center, and clean up the Chinatown area?

[Anonymous]

Anonymous wrote:But Chinatown hasn't changed, right guys?

https://www.wusa9.com/article/money/business/clydes-email-threaten-to-close-crime-not-addressed-in-dc/65-0d63f5c4-b736-4d38-9ec3-08af2f4548fe

[Anonymous]

Anonymous wrote:Is this all just a ploy to get the District to pay attention, fund the renovation of the Verizon Center, and clean up the Chinatown area?

I really think this, for a few reasons. IMO the location for the new arena doesn't seem to make a whole lot of sense. It lacks the road and transit infrastructure to handle gameday crowds, and it's not really central. The whole thing just seemed to happen very fast and is clearly quite tentative (they called it a "framework for an agreement" or something strange like that). It seems like it's going to be met with a ton of local opposition from area residents too. All in all I'm very curious to see how this pans out.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Is this all just a ploy to get the District to pay attention, fund the renovation of the Verizon Center, and clean up the Chinatown area?

I really think this, for a few reasons. IMO the location for the new arena doesn't seem to make a whole lot of sense. It lacks the road and transit infrastructure to handle gameday crowds, and it's not really central. The whole thing just seemed to happen very fast and is clearly quite tentative (they called it a "framework for an agreement" or something strange like that). It seems like it's going to be met with a ton of local opposition from area residents too. All in all I'm very curious to see how this pans out.

Some of y'all are still in the denial stage of grief. Soon you'll move on to anger.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Is this all just a ploy to get the District to pay attention, fund the renovation of the Verizon Center, and clean up the Chinatown area?

I really think this, for a few reasons. IMO the location for the new arena doesn't seem to make a whole lot of sense. It lacks the road and transit infrastructure to handle gameday crowds, and it's not really central. The whole thing just seemed to happen very fast and is clearly quite tentative (they called it a "framework for an agreement" or something strange like that). It seems like it's going to be met with a ton of local opposition from area residents too. All in all I'm very curious to see how this pans out.

Some of y'all are still in the denial stage of grief. Soon you'll move on to anger.

Be sure that many will move onto your teams in the area. My interest in attending Caps or Wizards will be zero, even with free tickets. All of the other arenas and stadiums are closer, whether baseball, soccer, or football.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Is this all just a ploy to get the District to pay attention, fund the renovation of the Verizon Center, and clean up the Chinatown area?

I really think this, for a few reasons. IMO the location for the new arena doesn't seem to make a whole lot of sense. It lacks the road and transit infrastructure to handle gameday crowds, and it's not really central. The whole thing just seemed to happen very fast and is clearly quite tentative (they called it a "framework for an agreement" or something strange like that). It seems like it's going to be met with a ton of local opposition from area residents too. All in all I'm very curious to see how this pans out.

The framework still needs to be approved by the Virginia legislature, since the state has to create (1) a sports bond authority and (2) cosign the bonds as a municipal obligor. The state is on the hook for $1B in new debt if the tax revenues don't meet projections. The Dems control the legislature, so Youngkin will need to compromise with them. And even then, I'm not sure RoVA voters want the state to take on another $1B in debt to fund a NoVA arena/

Separately, Alexandria will need to issue hundreds of millions in new bond debt for their commitment to the project.

Lots of ways for this to get derailed. Youngkin is desperate to change the conversation and Leonsis is desperate to shake out more concessions from DC. Leonsis is going to be in a bad spot in 2027 when his ground lease under the CapOne arena expires. DC is going to want to increase his rent big time. So he's trying to posture his moves now while he's still in a strong negotiating position and downtown DC is struggling with foot traffic.

[Anonymous]

The city should just push for the FBI site for the new arena. It’s plenty large, and the rooftop views would be spectacular. Most importantly less freight train noise and airplane noise from National Airport at this Penna. Ave. site for the outdoor or rooftop events. And 9th St NW has a direct ramp to the SE SW Freeway for an easy drive out of downtown.

[Anonymous]

Anonymous wrote:The city should just push for the FBI site for the new arena. It’s plenty large, and the rooftop views would be spectacular. Most importantly less freight train noise and airplane noise from National Airport at this Penna. Ave. site for the outdoor or rooftop events. And 9th St NW has a direct ramp to the SE SW Freeway for an easy drive out of downtown.

Isn't that deal done or no?