Wizards and Caps could be moving to Potomac Yard

[Anonymous]

Anonymous wrote:

Anonymous wrote:Youngkin has to strike a deal with L Louise Lucas.

LOL He's out of his league

I would take Youngkin over a woman who makes money off selling THC to kids. Maybe Leonsis will give her a place a dispensary in the development?

She’d be selling to adults. Last I checked, 21+ isn’t a kid

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Youngkin has to strike a deal with L Louise Lucas.

LOL He's out of his league

I would take Youngkin over a woman who makes money off selling THC to kids. Maybe Leonsis will give her a place a dispensary in the development?

She’d be selling to adults. Last I checked, 21+ isn’t a kid

Profit above anything else. https://www.fauquier.com/news/article_fe6b3202-8467-11ec-9428-ff2bc335001a.html

[Anonymous]

There is no planet where 30,000 jobs are created or moved to PY for this project.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Field of schemes is a great blog maintained by an economist who specializes in stadium deal. He tends to be more than a bit skeptical.

The Alexandria Economic Development Partnership revealed some new slides about the financing of the proposed $2 billion Washington Capitals and Wizards arena complex yesterday, and they are very clear-plastic-bindery indeed:
So according to that first slide, deploying a calculator to translate from percentages into actual dollar amounts, the $2 billion total cost would be repaid by:

$420 million in cash from the teams.
$420 million worth of future lease payments from the teams.
$100 million in cash from the city of Alexandria.
$460 million in kickbacks of taxes from the project.
$600 million in “private revenue streams,” which is presumably parking and naming rights, but the chart doesn’t say.
That would amount to just $560 million in taxpayer spending, which is a lot less than the $1.5 billion previously estimated. However, it leaves out some important pieces: $150-200 million in spending by the state of Virginia on transportation upgrades, plus around $380 million in property tax breaks, which would get the total subsidy comfortably back up over $1 billion.

Plus, of course, neither the pie chart nor that other Sankey diagram (which isn’t really used the way Sankeys should be, but it does look pretty) nor any of the rest of the presentation to yesterday’s town hall provides any indication of where the numbers came from, so they could all be just entirely made up. (It’s one of the many questions local residents asked at the town hall.) But here they are and we can’t unsee them now, so that’s some data viz money well-spent by the AEDC.

https://www.fieldofschemes.com/2024/01/09/20809/alexandria-releases-charts-showing-caps-wizards-arena-would-still-cost-public-1b-but-in-pretty-colors/

Yes but Alexandrians would rather pay taxes on a bad stadium deal than on affordable housing in that space. A stadium won't have as much traffic as apartment complexs and won't make ACPS even more embarrassing and sad than it already is.

No one is paying to build affordable housing on a super fund site, especially one with arsenic in the soil.

Isn't there a housing development on a Superfund site in DC or MD? I wouldn't put it past the developers here, they are allowed to do whatever they want.

Spring Valley was built on top of a WW I munitions dump, which includes poison shells.

[Anonymous]

The largest minority shareholder in Monumental Sports (Laurene Powell Jobs, Steve Jobs's widow) is looking to sell half her stake, which isn't something done by someone excited (or optimistic) about the move to Virginia:

https://www.sportico.com/business/team-sales/2024/laurene-powell-jobs-monumental-sale-1234762514/

[Anonymous]

Anonymous wrote:

There is no planet where 30,000 jobs are created or moved to PY for this project.

Easy 30,000 jobs. Construction easily 15,000 over the life of the project. Then the people working the arena, then the stores/hotels -- and the building of those. For a project of this size 30,000 is a pretty normal number.

[Anonymous]

Anonymous wrote:The largest minority shareholder in Monumental Sports (Laurene Powell Jobs, Steve Jobs's widow) is looking to sell half her stake, which isn't something done by someone excited (or optimistic) about the move to Virginia:

https://www.sportico.com/business/team-sales/2024/laurene-powell-jobs-monumental-sale-1234762514/

She is only selling half her stake -- not bailing -- if selling half it is done for reasons other than lack of excitment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

There is no planet where 30,000 jobs are created or moved to PY for this project.

Easy 30,000 jobs. Construction easily 15,000 over the life of the project. Then the people working the arena, then the stores/hotels -- and the building of those. For a project of this size 30,000 is a pretty normal number.

What makes you more qualified than a rando at the Washington Post?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

There is no planet where 30,000 jobs are created or moved to PY for this project.

Easy 30,000 jobs. Construction easily 15,000 over the life of the project. Then the people working the arena, then the stores/hotels -- and the building of those. For a project of this size 30,000 is a pretty normal number.

The only people who believe those numbers are economists paid to lie about economic impact

[Anonymous]

Anonymous wrote:Does anyone think Youngkin is putting the screws to NoVa because we don't vote for him? I think he has gone on the offensive against us.

He is a lame duck. Who cares?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

There is no planet where 30,000 jobs are created or moved to PY for this project.

Easy 30,000 jobs. Construction easily 15,000 over the life of the project. Then the people working the arena, then the stores/hotels -- and the building of those. For a project of this size 30,000 is a pretty normal number.

I guess you missed the part where monumental has 800 employees. It is right there in the tweet. The construction jobs would be temporary - a year or two, and any ushers, ticket tackers etc are very part time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

There is no planet where 30,000 jobs are created or moved to PY for this project.

Easy 30,000 jobs. Construction easily 15,000 over the life of the project. Then the people working the arena, then the stores/hotels -- and the building of those. For a project of this size 30,000 is a pretty normal number.

I guess you missed the part where monumental has 800 employees. It is right there in the tweet. The construction jobs would be temporary - a year or two, and any ushers, ticket tackers etc are very part time.

Right. That is what the 30,000 jobs represent -- temp and part time jobs. Have people never seen studies like this before?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Alexandrian who can literally see the arena site from my TV room, who loves the Target, and who fully supports the arena in PY. It is a great deal for the City.

Reported. The arena site and Target were washed away by the recent torrential rains.

I heard the anti-arena Del Ray wine moms were searching the flood waters for Valentine’s Day Stanley cups.

On a serious note, how do these Alexandrians think affordable housing and failing schools are actually paid for? Do people in Del Ray really want to pay $25k a year in taxes for a duplex that floods? To me the arena seems like a great way to get taxpayers across the Commonwealth to cover many of the arena’s costs, when Alexandria will see a disproportionate amount of the revenue. If it’s not an arena it will just be more high rise affordable housing units that bring 800 kids into schools, make demands on public safety, and overflow the crumbling roads.

The Arena definitely seems like the good option.

You sound like a peach, on your high horse, afraid of "lower income" people, and thinking your are wealthy/well off. But let's be frank here, if you were actually well off you probably would not be living in the Potomac Yard area...

The move is a terrible idea, it most likely won't have a strong enough economic effect to offset the cost to the taxpayer, and will create tons of traffic for people who live in that area.

Interesting video on the topic: https://youtu.be/xcwJt4bcnXs?si=UKc_QOkwXBlYGaMM

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Alexandrian who can literally see the arena site from my TV room, who loves the Target, and who fully supports the arena in PY. It is a great deal for the City.

Reported. The arena site and Target were washed away by the recent torrential rains.

I heard the anti-arena Del Ray wine moms were searching the flood waters for Valentine’s Day Stanley cups.

On a serious note, how do these Alexandrians think affordable housing and failing schools are actually paid for? Do people in Del Ray really want to pay $25k a year in taxes for a duplex that floods? To me the arena seems like a great way to get taxpayers across the Commonwealth to cover many of the arena’s costs, when Alexandria will see a disproportionate amount of the revenue. If it’s not an arena it will just be more high rise affordable housing units that bring 800 kids into schools, make demands on public safety, and overflow the crumbling roads.

The Arena definitely seems like the good option.

You sound like a peach, on your high horse, afraid of "lower income" people, and thinking your are wealthy/well off. But let's be frank here, if you were actually well off you probably would not be living in the Potomac Yard area...

The move is a terrible idea, it most likely won't have a strong enough economic effect to offset the cost to the taxpayer, and will create tons of traffic for people who live in that area.

Interesting video on the topic: https://youtu.be/xcwJt4bcnXs?si=UKc_QOkwXBlYGaMM

Not afraid. Arlandria is not nice. And there is crime. And drugs.

[Anonymous]

Anonymous wrote:The largest minority shareholder in Monumental Sports (Laurene Powell Jobs, Steve Jobs's widow) is looking to sell half her stake, which isn't something done by someone excited (or optimistic) about the move to Virginia:

https://www.sportico.com/business/team-sales/2024/laurene-powell-jobs-monumental-sale-1234762514/

Lol. Gee. Thanks for your insider analysis.