Wizards and Caps could be moving to Potomac Yard

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This deal is not done, so DC has some hope. Lets pressure the Mayor and DC Council to move aggressively and quickly. Both are important.

The city has offered $500M with unanimous support of the council. The city doesn't have 70 acres to offer Ted as a counter to Virginia.

I am not sure what more you want them to do.

To start, pass the legislation, and have it signed. Not talk about it. Then, look for other features to retain the teams. Ted wants office space, so DC should find an office building near Capital One Arena. Be creative on practice space. Maybe, add hockey to or nearby the Wizards/Mystics current practice facilities. But be aggressive.

There is plenty of commercial real estate available near the arena. That isn't what Ted wants. He wants "a complex" that he owns and controls, that is more than an arena and front offices. he wants what Virginia has promised. the council passing the 500 million dollar bond bill won't sway the deal, because DC cannot offer what Ted wants.

The question is, can virginia politics deliver? I don't see where democrats in the assembly are interested in subsidizing billionaires, and there certainly isn't any good will between Youngkin and the Assembly. And...I am not sure Alexandria is going to want to be on the hook for 9 figures of bond liability.

Youngkin will deliver. He’s already got the Ds in the Assembly from NoVa and he’ll give Ds elsewhere, especially in Hampton Roads and Richmond, something to secure their vote.

I know this is something many DCUM posters hate to admit: Youngkin is an agile and capable politician.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This deal is not done, so DC has some hope. Lets pressure the Mayor and DC Council to move aggressively and quickly. Both are important.

The city has offered $500M with unanimous support of the council. The city doesn't have 70 acres to offer Ted as a counter to Virginia.

I am not sure what more you want them to do.

To start, pass the legislation, and have it signed. Not talk about it. Then, look for other features to retain the teams. Ted wants office space, so DC should find an office building near Capital One Arena. Be creative on practice space. Maybe, add hockey to or nearby the Wizards/Mystics current practice facilities. But be aggressive.

There is plenty of commercial real estate available near the arena. That isn't what Ted wants. He wants "a complex" that he owns and controls, that is more than an arena and front offices. he wants what Virginia has promised. the council passing the 500 million dollar bond bill won't sway the deal, because DC cannot offer what Ted wants.

The question is, can virginia politics deliver? I don't see where democrats in the assembly are interested in subsidizing billionaires, and there certainly isn't any good will between Youngkin and the Assembly. And...I am not sure Alexandria is going to want to be on the hook for 9 figures of bond liability.

Alexandria has bigger problems. Like it’s crap schools. Same reason DC shouldn’t cave to Ted. Use the money for more cops. And schools.

You can't use a bond to pay for police officers. Salaries are an ongoing expense.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This deal is not done, so DC has some hope. Lets pressure the Mayor and DC Council to move aggressively and quickly. Both are important.

The city has offered $500M with unanimous support of the council. The city doesn't have 70 acres to offer Ted as a counter to Virginia.

I am not sure what more you want them to do.

To start, pass the legislation, and have it signed. Not talk about it. Then, look for other features to retain the teams. Ted wants office space, so DC should find an office building near Capital One Arena. Be creative on practice space. Maybe, add hockey to or nearby the Wizards/Mystics current practice facilities. But be aggressive.

There is plenty of commercial real estate available near the arena. That isn't what Ted wants. He wants "a complex" that he owns and controls, that is more than an arena and front offices. he wants what Virginia has promised. the council passing the 500 million dollar bond bill won't sway the deal, because DC cannot offer what Ted wants.

The question is, can virginia politics deliver? I don't see where democrats in the assembly are interested in subsidizing billionaires, and there certainly isn't any good will between Youngkin and the Assembly. And...I am not sure Alexandria is going to want to be on the hook for 9 figures of bond liability.

Youngkin will deliver. He’s already got the Ds in the Assembly from NoVa and he’ll give Ds elsewhere, especially in Hampton Roads and Richmond, something to secure their vote.

I know this is something many DCUM posters hate to admit: Youngkin is an agile and capable politician.

LOL, no he’s not. He’s a turd in a vest. Look at what happened in November. He can’t deliver because he’s either slinging BS or he’s trying to oppress women.

This deal is horrible for VA. He’s trying to win political points at the expense of Virginians.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This deal is not done, so DC has some hope. Lets pressure the Mayor and DC Council to move aggressively and quickly. Both are important.

The city has offered $500M with unanimous support of the council. The city doesn't have 70 acres to offer Ted as a counter to Virginia.

I am not sure what more you want them to do.

To start, pass the legislation, and have it signed. Not talk about it. Then, look for other features to retain the teams. Ted wants office space, so DC should find an office building near Capital One Arena. Be creative on practice space. Maybe, add hockey to or nearby the Wizards/Mystics current practice facilities. But be aggressive.

There is plenty of commercial real estate available near the arena. That isn't what Ted wants. He wants "a complex" that he owns and controls, that is more than an arena and front offices. he wants what Virginia has promised. the council passing the 500 million dollar bond bill won't sway the deal, because DC cannot offer what Ted wants.

The question is, can virginia politics deliver? I don't see where democrats in the assembly are interested in subsidizing billionaires, and there certainly isn't any good will between Youngkin and the Assembly. And...I am not sure Alexandria is going to want to be on the hook for 9 figures of bond liability.

I think this gets at the crux of the matter. Leonsis wants to own the land under the stadium so he can control how it is developed and used. Right now, he pays DC an artificially low rent of $300K per year until 2027. Then his rent is going to get jacked up and he’s at the mercy of the DC government.

He’s trying to make a move ahead of 2027 while he still has the upper hand. I don’t think he will be happy with the FBI site either, since there’s no way the federal government relinquishes control of the underlying land.

This is about control and power. And Leonsis doesn’t want to have to answer to a government landlord.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This deal is not done, so DC has some hope. Lets pressure the Mayor and DC Council to move aggressively and quickly. Both are important.

The city has offered $500M with unanimous support of the council. The city doesn't have 70 acres to offer Ted as a counter to Virginia.

I am not sure what more you want them to do.

To start, pass the legislation, and have it signed. Not talk about it. Then, look for other features to retain the teams. Ted wants office space, so DC should find an office building near Capital One Arena. Be creative on practice space. Maybe, add hockey to or nearby the Wizards/Mystics current practice facilities. But be aggressive.

There is plenty of commercial real estate available near the arena. That isn't what Ted wants. He wants "a complex" that he owns and controls, that is more than an arena and front offices. he wants what Virginia has promised. the council passing the 500 million dollar bond bill won't sway the deal, because DC cannot offer what Ted wants.

The question is, can virginia politics deliver? I don't see where democrats in the assembly are interested in subsidizing billionaires, and there certainly isn't any good will between Youngkin and the Assembly. And...I am not sure Alexandria is going to want to be on the hook for 9 figures of bond liability.

I think this gets at the crux of the matter. Leonsis wants to own the land under the stadium so he can control how it is developed and used. Right now, he pays DC an artificially low rent of $300K per year until 2027. Then his rent is going to get jacked up and he’s at the mercy of the DC government.

He’s trying to make a move ahead of 2027 while he still has the upper hand. I don’t think he will be happy with the FBI site either, since there’s no way the federal government relinquishes control of the underlying land.

This is about control and power. And Leonsis doesn’t want to have to answer to a government landlord.

It was apparent two years ago that the DC economy is in serious trouble. If DC had made him an attractive offer a year ago then Youngkin would have not had time to put together a fairly complicated proposal requiring buy in from multiple parties. That’s the point. Our leaders failed. They had no sense of urgency. No vision. This is what happens when we elect “community activists” 100% of the time with no private sector experience.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This deal is not done, so DC has some hope. Lets pressure the Mayor and DC Council to move aggressively and quickly. Both are important.

The city has offered $500M with unanimous support of the council. The city doesn't have 70 acres to offer Ted as a counter to Virginia.

I am not sure what more you want them to do.

To start, pass the legislation, and have it signed. Not talk about it. Then, look for other features to retain the teams. Ted wants office space, so DC should find an office building near Capital One Arena. Be creative on practice space. Maybe, add hockey to or nearby the Wizards/Mystics current practice facilities. But be aggressive.

There is plenty of commercial real estate available near the arena. That isn't what Ted wants. He wants "a complex" that he owns and controls, that is more than an arena and front offices. he wants what Virginia has promised. the council passing the 500 million dollar bond bill won't sway the deal, because DC cannot offer what Ted wants.

The question is, can virginia politics deliver? I don't see where democrats in the assembly are interested in subsidizing billionaires, and there certainly isn't any good will between Youngkin and the Assembly. And...I am not sure Alexandria is going to want to be on the hook for 9 figures of bond liability.

I think this gets at the crux of the matter. Leonsis wants to own the land under the stadium so he can control how it is developed and used. Right now, he pays DC an artificially low rent of $300K per year until 2027. Then his rent is going to get jacked up and he’s at the mercy of the DC government.

He’s trying to make a move ahead of 2027 while he still has the upper hand. I don’t think he will be happy with the FBI site either, since there’s no way the federal government relinquishes control of the underlying land.

This is about control and power. And Leonsis doesn’t want to have to answer to a government landlord.

It was apparent two years ago that the DC economy is in serious trouble. If DC had made him an attractive offer a year ago then Youngkin would have not had time to put together a fairly complicated proposal requiring buy in from multiple parties. That’s the point. Our leaders failed. They had no sense of urgency. No vision. This is what happens when we elect “community activists” 100% of the time with no private sector experience.

I disagree. Youngkin and Leonsis are old friends and part of the northern Virginia business community. This deal was years in the making, not weeks or months. Ted was continuing to try to extract more from DC while working out this deal with Youngkin. Once the framework of 70 open acres was in the discussion, there was no way DC was going to be able to compete.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This deal is not done, so DC has some hope. Lets pressure the Mayor and DC Council to move aggressively and quickly. Both are important.

The city has offered $500M with unanimous support of the council. The city doesn't have 70 acres to offer Ted as a counter to Virginia.

I am not sure what more you want them to do.

To start, pass the legislation, and have it signed. Not talk about it. Then, look for other features to retain the teams. Ted wants office space, so DC should find an office building near Capital One Arena. Be creative on practice space. Maybe, add hockey to or nearby the Wizards/Mystics current practice facilities. But be aggressive.

There is plenty of commercial real estate available near the arena. That isn't what Ted wants. He wants "a complex" that he owns and controls, that is more than an arena and front offices. he wants what Virginia has promised. the council passing the 500 million dollar bond bill won't sway the deal, because DC cannot offer what Ted wants.

The question is, can virginia politics deliver? I don't see where democrats in the assembly are interested in subsidizing billionaires, and there certainly isn't any good will between Youngkin and the Assembly. And...I am not sure Alexandria is going to want to be on the hook for 9 figures of bond liability.

I think this gets at the crux of the matter. Leonsis wants to own the land under the stadium so he can control how it is developed and used. Right now, he pays DC an artificially low rent of $300K per year until 2027. Then his rent is going to get jacked up and he’s at the mercy of the DC government.

He’s trying to make a move ahead of 2027 while he still has the upper hand. I don’t think he will be happy with the FBI site either, since there’s no way the federal government relinquishes control of the underlying land.

This is about control and power. And Leonsis doesn’t want to have to answer to a government landlord.

It was apparent two years ago that the DC economy is in serious trouble. If DC had made him an attractive offer a year ago then Youngkin would have not had time to put together a fairly complicated proposal requiring buy in from multiple parties. That’s the point. Our leaders failed. They had no sense of urgency. No vision. This is what happens when we elect “community activists” 100% of the time with no private sector experience.

I disagree. Youngkin and Leonsis are old friends and part of the northern Virginia business community. This deal was years in the making, not weeks or months. Ted was continuing to try to extract more from DC while working out this deal with Youngkin. Once the framework of 70 open acres was in the discussion, there was no way DC was going to be able to compete.

This is a lazy response. DC could have been more aggressive two years ago but they were slow playing it until the Commanders ownership situation was resolved. Thats why they didn’t put their “best and final” offer on the table until the night before the PY press conference. It was desperate and amateurish. Totally on brand for our unimpressive leaders. And it didn’t help that Ted’s employees and customers are continually assaulted and robbed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This deal is not done, so DC has some hope. Lets pressure the Mayor and DC Council to move aggressively and quickly. Both are important.

Or they can sit back and let the Virginia House of Delegates reject a bad deal, and maybe have a staffer take Teddy’s call when he comes crawling back.

That is not likley if Alexandria is on board.

If I were an Alexandria taxpayer, I would be furious over this.

As an Alexandria taxpayer I like this. City of Alexandria needs to diversify its tax revenue and this will help. Original plans for Potomac Yard envisioned more office buildings in that section, but there’s little demand for new office space and Alexandria is leading the country in office to residential conversions. This whole entertainment district will generate a lot of tax revenue for Alexandria—much more than the empty lots that are currently there.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This deal is not done, so DC has some hope. Lets pressure the Mayor and DC Council to move aggressively and quickly. Both are important.

The city has offered $500M with unanimous support of the council. The city doesn't have 70 acres to offer Ted as a counter to Virginia.

I am not sure what more you want them to do.

To start, pass the legislation, and have it signed. Not talk about it. Then, look for other features to retain the teams. Ted wants office space, so DC should find an office building near Capital One Arena. Be creative on practice space. Maybe, add hockey to or nearby the Wizards/Mystics current practice facilities. But be aggressive.

There is plenty of commercial real estate available near the arena. That isn't what Ted wants. He wants "a complex" that he owns and controls, that is more than an arena and front offices. he wants what Virginia has promised. the council passing the 500 million dollar bond bill won't sway the deal, because DC cannot offer what Ted wants.

The question is, can virginia politics deliver? I don't see where democrats in the assembly are interested in subsidizing billionaires, and there certainly isn't any good will between Youngkin and the Assembly. And...I am not sure Alexandria is going to want to be on the hook for 9 figures of bond liability.

I think this gets at the crux of the matter. Leonsis wants to own the land under the stadium so he can control how it is developed and used. Right now, he pays DC an artificially low rent of $300K per year until 2027. Then his rent is going to get jacked up and he’s at the mercy of the DC government.

He’s trying to make a move ahead of 2027 while he still has the upper hand. I don’t think he will be happy with the FBI site either, since there’s no way the federal government relinquishes control of the underlying land.

This is about control and power. And Leonsis doesn’t want to have to answer to a government landlord.

It was apparent two years ago that the DC economy is in serious trouble. If DC had made him an attractive offer a year ago then Youngkin would have not had time to put together a fairly complicated proposal requiring buy in from multiple parties. That’s the point. Our leaders failed. They had no sense of urgency. No vision. This is what happens when we elect “community activists” 100% of the time with no private sector experience.

I disagree. Youngkin and Leonsis are old friends and part of the northern Virginia business community. This deal was years in the making, not weeks or months. Ted was continuing to try to extract more from DC while working out this deal with Youngkin. Once the framework of 70 open acres was in the discussion, there was no way DC was going to be able to compete.

This is a lazy response. DC could have been more aggressive two years ago but they were slow playing it until the Commanders ownership situation was resolved. Thats why they didn’t put their “best and final” offer on the table until the night before the PY press conference. It was desperate and amateurish. Totally on brand for our unimpressive leaders. And it didn’t help that Ted’s employees and customers are continually assaulted and robbed.

It's not a lazy response. While the PP likely overstated the length of time this deal was in the works, the bottom line is that VA would always have more to offer the Leonsis than DC -- even if DC had been more been more aggressive or Chinatown hadn't turned back into Sketch Central.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This deal is not done, so DC has some hope. Lets pressure the Mayor and DC Council to move aggressively and quickly. Both are important.

Or they can sit back and let the Virginia House of Delegates reject a bad deal, and maybe have a staffer take Teddy’s call when he comes crawling back.

That is not likley if Alexandria is on board.

If I were an Alexandria taxpayer, I would be furious over this.

As an Alexandria taxpayer I like this. City of Alexandria needs to diversify its tax revenue and this will help. Original plans for Potomac Yard envisioned more office buildings in that section, but there’s little demand for new office space and Alexandria is leading the country in office to residential conversions. This whole entertainment district will generate a lot of tax revenue for Alexandria—much more than the empty lots that are currently there.

+1 And we need the money. More restaurants are closing and the associations have left. It’s nice to have to have a tax revenue stream coming from something other than real estate taxes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This deal is not done, so DC has some hope. Lets pressure the Mayor and DC Council to move aggressively and quickly. Both are important.

Or they can sit back and let the Virginia House of Delegates reject a bad deal, and maybe have a staffer take Teddy’s call when he comes crawling back.

That is not likley if Alexandria is on board.

If I were an Alexandria taxpayer, I would be furious over this.

As an Alexandria taxpayer I like this. City of Alexandria needs to diversify its tax revenue and this will help. Original plans for Potomac Yard envisioned more office buildings in that section, but there’s little demand for new office space and Alexandria is leading the country in office to residential conversions. This whole entertainment district will generate a lot of tax revenue for Alexandria—much more than the empty lots that are currently there.

+1 And we need the money. More restaurants are closing and the associations have left. It’s nice to have to have a tax revenue stream coming from something other than real estate taxes.

The idea that this MD resident will head to PY to eat a meal or watch a performance is zero. I have been to National Harbour exactly once since its opening, as it has no attraction to me either. The good news of course is that I will have more money to spend because I will not be attending Caps games or an occasional Wizards games.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This deal is not done, so DC has some hope. Lets pressure the Mayor and DC Council to move aggressively and quickly. Both are important.

Or they can sit back and let the Virginia House of Delegates reject a bad deal, and maybe have a staffer take Teddy’s call when he comes crawling back.

That is not likley if Alexandria is on board.

If I were an Alexandria taxpayer, I would be furious over this.

As an Alexandria taxpayer I like this. City of Alexandria needs to diversify its tax revenue and this will help. Original plans for Potomac Yard envisioned more office buildings in that section, but there’s little demand for new office space and Alexandria is leading the country in office to residential conversions. This whole entertainment district will generate a lot of tax revenue for Alexandria—much more than the empty lots that are currently there.

LOL, you need to look at what Alexandria will be liable for if the rosy concessions and ticket tax revenue don't pan out. That isn't diversifying revenue, that is forcing more money away from Alexandria and into Ted's pockets.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This deal is not done, so DC has some hope. Lets pressure the Mayor and DC Council to move aggressively and quickly. Both are important.

Or they can sit back and let the Virginia House of Delegates reject a bad deal, and maybe have a staffer take Teddy’s call when he comes crawling back.

That is not likley if Alexandria is on board.

If I were an Alexandria taxpayer, I would be furious over this.

As an Alexandria taxpayer I like this. City of Alexandria needs to diversify its tax revenue and this will help. Original plans for Potomac Yard envisioned more office buildings in that section, but there’s little demand for new office space and Alexandria is leading the country in office to residential conversions. This whole entertainment district will generate a lot of tax revenue for Alexandria—much more than the empty lots that are currently there.

+1 And we need the money. More restaurants are closing and the associations have left. It’s nice to have to have a tax revenue stream coming from something other than real estate taxes.

Alexandria better be careful what it is asking for. For restaurants, this development will simply draw some people away from the Old Town restaurants to the PY restaurants. Happened in Bethesda between north and south sides. Personally, I would prefer to head to Old Town. Far more charm than PY will ever have.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This deal is not done, so DC has some hope. Lets pressure the Mayor and DC Council to move aggressively and quickly. Both are important.

Or they can sit back and let the Virginia House of Delegates reject a bad deal, and maybe have a staffer take Teddy’s call when he comes crawling back.

That is not likley if Alexandria is on board.

If I were an Alexandria taxpayer, I would be furious over this.

As an Alexandria taxpayer I like this. City of Alexandria needs to diversify its tax revenue and this will help. Original plans for Potomac Yard envisioned more office buildings in that section, but there’s little demand for new office space and Alexandria is leading the country in office to residential conversions. This whole entertainment district will generate a lot of tax revenue for Alexandria—much more than the empty lots that are currently there.

+1 And we need the money. More restaurants are closing and the associations have left. It’s nice to have to have a tax revenue stream coming from something other than real estate taxes.

The idea that this MD resident will head to PY to eat a meal or watch a performance is zero. I have been to National Harbour exactly once since its opening, as it has no attraction to me either. The good news of course is that I will have more money to spend because I will not be attending Caps games or an occasional Wizards games.

This makes me think you live in DC and don’t get out much. Alexandria traffic is filled with MD tags. Lots of MD people even cross the bridge to use the area’s daycares.

I assure you PY will have no issues attracting Marylanders for games and such. They’re already here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This deal is not done, so DC has some hope. Lets pressure the Mayor and DC Council to move aggressively and quickly. Both are important.

Or they can sit back and let the Virginia House of Delegates reject a bad deal, and maybe have a staffer take Teddy’s call when he comes crawling back.

That is not likley if Alexandria is on board.

If I were an Alexandria taxpayer, I would be furious over this.

As an Alexandria taxpayer I like this. City of Alexandria needs to diversify its tax revenue and this will help. Original plans for Potomac Yard envisioned more office buildings in that section, but there’s little demand for new office space and Alexandria is leading the country in office to residential conversions. This whole entertainment district will generate a lot of tax revenue for Alexandria—much more than the empty lots that are currently there.

+1 And we need the money. More restaurants are closing and the associations have left. It’s nice to have to have a tax revenue stream coming from something other than real estate taxes.

You aren't getting it. There will be a bond facility that Alexandria will be liable for. If you think people will be driving (LOL no) or trying to take the metro to one corner of the metropolitan region to attend games, you haven't thought this through. Look at any of the local DC sports website and the polling. Current ticket plan holders will not be moving with the teams to Virginia, which means Ted is going to have to find new people to attend. He better hope there are enough from Del Ray, "Potomac Landing" and Pentagon City, because for pretty much everyone else, getting to this location will be a nightmare. The road infrastructure is already over burdened, there is a small metro station that has one escalator and a footbridge that THOUSANDS are going to have to alight at the same time, post game and there are no other good options, particularly for a governor who has already been withholding funding for Metro.

Good luck with that.