Wizards and Caps could be moving to Potomac Yard

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Lots of derision in here from armchair economists. I get that’s what this place is all about, but it’s still amazing folks think their side is the only one worth considering.

Folks who have watched how things work for a minute know this project is going ahead. Can’t wait to head to my first concert there in about four years.

I dislike this project, but totally agree with you, it's going to happen.

Whether it happens or not, no one knows. But I know that I will not attend Caps or Wizards games at PY. Not worth 80-90 minutes of travel time each way.

Ted doesn't care if you go or don't go, he's getting a free entertainment district, and he probably figures there'll be enough new fans in Virginia to replace any of us from D.C. or Maryland who don't want to deal with the mess.

No. Ted figures that Virginia taxpayers are happy to subsidize him.

The thing will fail spectacularly and Virginia taxpayers throughout the commonwealth will have to pay up.

I'm not at all convinced this deal will pass in the Virginia legislature. Using public money to fund a billionaire's arena is never good politics. And there are many reasons why the proposed complex will turn into a boondoggle. Transportation. Location. Impacts on local communities. Sure it may create some jobs, but they are low wage jobs. It's not quite Amazon HQ. Bezos isn't employing people to sell hot dogs and pretzels.

Capital One Arena is perfectly located to capture fans from Maryland, DC, and Virginia. No one in Maryland, DC, or most of northern Virginia is schlepping through hours of traffic to see the Worst Team in the NBA or a mediocre post-Ovi Caps team, particularly on weeknights. The arena will be empty most nights. And when it doesn't hit its extremely optimistic financial targets, Virginia taxpayers will be on the hook for hundreds of millions of dollars. And on nights when they do sell out, traffic will be an absolute nightmare. The metro is far too inconvenient for the vast majority of the DMV, unlike Capital One Arena, which is an easy metro ride for everyone in the DMV.

It's not a good deal. And I suspect there will be enough legislators who can see the politics of it - or possibly even have a backbone - and reject this totally unnecessary arena.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Lots of derision in here from armchair economists. I get that’s what this place is all about, but it’s still amazing folks think their side is the only one worth considering.

Folks who have watched how things work for a minute know this project is going ahead. Can’t wait to head to my first concert there in about four years.

I dislike this project, but totally agree with you, it's going to happen.

Whether it happens or not, no one knows. But I know that I will not attend Caps or Wizards games at PY. Not worth 80-90 minutes of travel time each way.

Ted doesn't care if you go or don't go, he's getting a free entertainment district, and he probably figures there'll be enough new fans in Virginia to replace any of us from D.C. or Maryland who don't want to deal with the mess.

No. Ted figures that Virginia taxpayers are happy to subsidize him.

The thing will fail spectacularly and Virginia taxpayers throughout the commonwealth will have to pay up.

I'm not at all convinced this deal will pass in the Virginia legislature. Using public money to fund a billionaire's arena is never good politics. And there are many reasons why the proposed complex will turn into a boondoggle. Transportation. Location. Impacts on local communities. Sure it may create some jobs, but they are low wage jobs. It's not quite Amazon HQ. Bezos isn't employing people to sell hot dogs and pretzels.

Capital One Arena is perfectly located to capture fans from Maryland, DC, and Virginia. No one in Maryland, DC, or most of northern Virginia is schlepping through hours of traffic to see the Worst Team in the NBA or a mediocre post-Ovi Caps team, particularly on weeknights. The arena will be empty most nights. And when it doesn't hit its extremely optimistic financial targets, Virginia taxpayers will be on the hook for hundreds of millions of dollars. And on nights when they do sell out, traffic will be an absolute nightmare. The metro is far too inconvenient for the vast majority of the DMV, unlike Capital One Arena, which is an easy metro ride for everyone in the DMV.

It's not a good deal. And I suspect there will be enough legislators who can see the politics of it - or possibly even have a backbone - and reject this totally unnecessary arena.

100%

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Lots of derision in here from armchair economists. I get that’s what this place is all about, but it’s still amazing folks think their side is the only one worth considering.

Folks who have watched how things work for a minute know this project is going ahead. Can’t wait to head to my first concert there in about four years.

I dislike this project, but totally agree with you, it's going to happen.

Whether it happens or not, no one knows. But I know that I will not attend Caps or Wizards games at PY. Not worth 80-90 minutes of travel time each way.

Ted doesn't care if you go or don't go, he's getting a free entertainment district, and he probably figures there'll be enough new fans in Virginia to replace any of us from D.C. or Maryland who don't want to deal with the mess.

No. Ted figures that Virginia taxpayers are happy to subsidize him.

The thing will fail spectacularly and Virginia taxpayers throughout the commonwealth will have to pay up.

Sure, but the important part is: Ted doesn't care.

[Anonymous]

Everyone should listen to this podcast. The City of Alexandria took 2 months to get numbers on those 30k jobs we keep hearing about.

They literally have no plan and took those numbers out of thin air, with no details or timeline. The arena jobs will be transfers, and the rest will be office and retail. Also mostly transfers. It's farking insane how anyone supports this plan. I'm ashamed to have voted for Wilson.

https://podcasts.apple.com/us/podcast/pod-virginia/id1498833592?i=1000647506433

[Anonymous]

Unfortunately or fortunately, this is basically a done deal. State legislative members outside this area will not go on record as opposing the first proposal to bring professional sports teams to Virginia, particularly when the members of the district support it. The average voter in Virginia doesn’t care that the deal might force the State to raise income taxes in 15-20 years.

There’s no question that this proposal will benefit Alexandria economically, and in a major way. It might well be a boondoggle for the rest of Virginia, and it will divert investment and revenues from Arlington County and Fairfax County to Alexandria, but most members of the state legislature don’t care about that.

[Anonymous]

Anonymous wrote:Unfortunately or fortunately, this is basically a done deal. State legislative members outside this area will not go on record as opposing the first proposal to bring professional sports teams to Virginia, particularly when the members of the district support it. The average voter in Virginia doesn’t care that the deal might force the State to raise income taxes in 15-20 years.

There’s no question that this proposal will benefit Alexandria economically, and in a major way. It might well be a boondoggle for the rest of Virginia, and it will divert investment and revenues from Arlington County and Fairfax County to Alexandria, but most members of the state legislature don’t care about that.

I thought Elizabeth Bennett Parker voted against it? And Senator Ebbin hasn't had a chance to vote either way.

[Anonymous]

If this move were to happen, Ted's saving grace will be that he is not as bad an owner as Snyder was, or as Angelos is. But Ted literally wants to do the opposite of what Ted's supposed mentor Abe Pollen did. Simply, a disgrace.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Unfortunately or fortunately, this is basically a done deal. State legislative members outside this area will not go on record as opposing the first proposal to bring professional sports teams to Virginia, particularly when the members of the district support it. The average voter in Virginia doesn’t care that the deal might force the State to raise income taxes in 15-20 years.

There’s no question that this proposal will benefit Alexandria economically, and in a major way. It might well be a boondoggle for the rest of Virginia, and it will divert investment and revenues from Arlington County and Fairfax County to Alexandria, but most members of the state legislature don’t care about that.

I thought Elizabeth Bennett Parker voted against it? And Senator Ebbin hasn't had a chance to vote either way.

Though Parker voted against it, her comments have repeatedly indicated that she believes it would benefit the economy and her constituents. Parker indicated she voted against the bill because of Alexandria’s representation on the monument board and the lack of clarity about Alexandria transportation infrastructure funding. But she didn’t and hasn’t lobbied her colleagues to vote against the bill. If Parker really did not want the bill to pass, it would not have passed. But voting against the bill when it passes is win-win for her; project proponents get what they want and she gets to tell those opposed to it that she listened to their concerns.

[Anonymous]

Anonymous wrote:Unfortunately or fortunately, this is basically a done deal. State legislative members outside this area will not go on record as opposing the first proposal to bring professional sports teams to Virginia, particularly when the members of the district support it. The average voter in Virginia doesn’t care that the deal might force the State to raise income taxes in 15-20 years.

There’s no question that this proposal will benefit Alexandria economically, and in a major way. It might well be a boondoggle for the rest of Virginia, and it will divert investment and revenues from Arlington County and Fairfax County to Alexandria, but most members of the state legislature don’t care about that.

Who cares about a professional sports team in 2024?

The tax bill will come due in about 4 years. The thing is supposed to be up and running in a couple years, it will be a failure in year 3 and then the money will have to be paid back and there won’t be enough revenue.

And no way it will benefit Alexandria economically. The fundamentals simply don’t bear that assertion out.

You a lobbyist for monumental??

[Anonymous]

Anonymous wrote:

Anonymous wrote:Unfortunately or fortunately, this is basically a done deal. State legislative members outside this area will not go on record as opposing the first proposal to bring professional sports teams to Virginia, particularly when the members of the district support it. The average voter in Virginia doesn’t care that the deal might force the State to raise income taxes in 15-20 years.

There’s no question that this proposal will benefit Alexandria economically, and in a major way. It might well be a boondoggle for the rest of Virginia, and it will divert investment and revenues from Arlington County and Fairfax County to Alexandria, but most members of the state legislature don’t care about that.

Who cares about a professional sports team in 2024?

The tax bill will come due in about 4 years. The thing is supposed to be up and running in a couple years, it will be a failure in year 3 and then the money will have to be paid back and there won’t be enough revenue.

And no way it will benefit Alexandria economically. The fundamentals simply don’t bear that assertion out.

You a lobbyist for monumental??

The stadium complex itself will have little or any economic benefit because all the tax revenues associated with that 12-acre site will go towards paying off the stadium authority debt. However, the stadium complex is only a small piece of the larger 70 acre development area. The 70–acre site is projected to ultimately include more than 9 million square feet of mixed use and residential with more than $10 billion in investment that would otherwise be directed to DC, Arlington, or Fairfax. That will make it roughly THREE TIMES the size of the Wharf development in SW DC. Alexandria will get to retain the tax revenues associated with the 58 non-stadium acres.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Unfortunately or fortunately, this is basically a done deal. State legislative members outside this area will not go on record as opposing the first proposal to bring professional sports teams to Virginia, particularly when the members of the district support it. The average voter in Virginia doesn’t care that the deal might force the State to raise income taxes in 15-20 years.

There’s no question that this proposal will benefit Alexandria economically, and in a major way. It might well be a boondoggle for the rest of Virginia, and it will divert investment and revenues from Arlington County and Fairfax County to Alexandria, but most members of the state legislature don’t care about that.

Who cares about a professional sports team in 2024?

The tax bill will come due in about 4 years. The thing is supposed to be up and running in a couple years, it will be a failure in year 3 and then the money will have to be paid back and there won’t be enough revenue.

And no way it will benefit Alexandria economically. The fundamentals simply don’t bear that assertion out.

You a lobbyist for monumental??

The stadium complex itself will have little or any economic benefit because all the tax revenues associated with that 12-acre site will go towards paying off the stadium authority debt. However, the stadium complex is only a small piece of the larger 70 acre development area. The 70–acre site is projected to ultimately include more than 9 million square feet of mixed use and residential with more than $10 billion in investment that would otherwise be directed to DC, Arlington, or Fairfax. That will make it roughly THREE TIMES the size of the Wharf development in SW DC. Alexandria will get to retain the tax revenues associated with the 58 non-stadium acres.

If the stadium were not built, Alexandria would get the revenues from all 70 acres, without risking its financial future.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Unfortunately or fortunately, this is basically a done deal. State legislative members outside this area will not go on record as opposing the first proposal to bring professional sports teams to Virginia, particularly when the members of the district support it. The average voter in Virginia doesn’t care that the deal might force the State to raise income taxes in 15-20 years.

There’s no question that this proposal will benefit Alexandria economically, and in a major way. It might well be a boondoggle for the rest of Virginia, and it will divert investment and revenues from Arlington County and Fairfax County to Alexandria, but most members of the state legislature don’t care about that.

Who cares about a professional sports team in 2024?

The tax bill will come due in about 4 years. The thing is supposed to be up and running in a couple years, it will be a failure in year 3 and then the money will have to be paid back and there won’t be enough revenue.

And no way it will benefit Alexandria economically. The fundamentals simply don’t bear that assertion out.

You a lobbyist for monumental??

The stadium complex itself will have little or any economic benefit because all the tax revenues associated with that 12-acre site will go towards paying off the stadium authority debt. However, the stadium complex is only a small piece of the larger 70 acre development area. The 70–acre site is projected to ultimately include more than 9 million square feet of mixed use and residential with more than $10 billion in investment that would otherwise be directed to DC, Arlington, or Fairfax. That will make it roughly THREE TIMES the size of the Wharf development in SW DC. Alexandria will get to retain the tax revenues associated with the 58 non-stadium acres.

They could do all that without the arena and save the creation of a new bonding authority and the liability to virginia taxpayers. The underlying zoning already exists and the plans had already been approved. Adding the arena and music venue ara a net drag. If is is such a great deal, then Ted should pay for it and finance it through banks himself.

[Anonymous]

Anonymous wrote:Unfortunately or fortunately, this is basically a done deal. State legislative members outside this area will not go on record as opposing the first proposal to bring professional sports teams to Virginia, particularly when the members of the district support it. The average voter in Virginia doesn’t care that the deal might force the State to raise income taxes in 15-20 years.

There’s no question that this proposal will benefit Alexandria economically, and in a major way. It might well be a boondoggle for the rest of Virginia, and it will divert investment and revenues from Arlington County and Fairfax County to Alexandria, but most members of the state legislature don’t care about that.

This is total bull.

Nobody is going to want to come out to PY on the blue/yellow line. And driving will be a nightmare. The economic numbers are based on this being a success, but PEOPLE ARE NOT GOING TO GO. The "pro arena" folks are truly looking at a best case ideal scenario, instead of a likely reality - the station is not convenient. And it is completely inadequate to handle crowds, despite being brand new.

Look, I was hopeful when the plan was first announced. I thought that maybe this could be a good thing? But as more details come out, there is absolutely nothing positive about this project. For anyone in Alexandria, Virginia, fans in MD/DC. But hey, Monumental gets a payday. And Glenn. And probably the mayor.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Unfortunately or fortunately, this is basically a done deal. State legislative members outside this area will not go on record as opposing the first proposal to bring professional sports teams to Virginia, particularly when the members of the district support it. The average voter in Virginia doesn’t care that the deal might force the State to raise income taxes in 15-20 years.

There’s no question that this proposal will benefit Alexandria economically, and in a major way. It might well be a boondoggle for the rest of Virginia, and it will divert investment and revenues from Arlington County and Fairfax County to Alexandria, but most members of the state legislature don’t care about that.

Who cares about a professional sports team in 2024?

The tax bill will come due in about 4 years. The thing is supposed to be up and running in a couple years, it will be a failure in year 3 and then the money will have to be paid back and there won’t be enough revenue.

And no way it will benefit Alexandria economically. The fundamentals simply don’t bear that assertion out.

You a lobbyist for monumental??

The stadium complex itself will have little or any economic benefit because all the tax revenues associated with that 12-acre site will go towards paying off the stadium authority debt. However, the stadium complex is only a small piece of the larger 70 acre development area. The 70–acre site is projected to ultimately include more than 9 million square feet of mixed use and residential with more than $10 billion in investment that would otherwise be directed to DC, Arlington, or Fairfax. That will make it roughly THREE TIMES the size of the Wharf development in SW DC. Alexandria will get to retain the tax revenues associated with the 58 non-stadium acres.

They could do all that without the arena and save the creation of a new bonding authority and the liability to virginia taxpayers. The underlying zoning already exists and the plans had already been approved. Adding the arena and music venue ara a net drag. If is is such a great deal, then Ted should pay for it and finance it through banks himself.

They could do it without the stadium complex but they won’t. Or at least, that’s what the principal owner of the area (i.e., the real estate developer) has said. Are they lying? Maybe, maybe not. The one thing we do know is that they will pursue development of the remaining 58 acres if the stadium complex moves forward.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Unfortunately or fortunately, this is basically a done deal. State legislative members outside this area will not go on record as opposing the first proposal to bring professional sports teams to Virginia, particularly when the members of the district support it. The average voter in Virginia doesn’t care that the deal might force the State to raise income taxes in 15-20 years.

There’s no question that this proposal will benefit Alexandria economically, and in a major way. It might well be a boondoggle for the rest of Virginia, and it will divert investment and revenues from Arlington County and Fairfax County to Alexandria, but most members of the state legislature don’t care about that.

This is total bull.

Nobody is going to want to come out to PY on the blue/yellow line. And driving will be a nightmare. The economic numbers are based on this being a success, but PEOPLE ARE NOT GOING TO GO. The "pro arena" folks are truly looking at a best case ideal scenario, instead of a likely reality - the station is not convenient. And it is completely inadequate to handle crowds, despite being brand new.

Look, I was hopeful when the plan was first announced. I thought that maybe this could be a good thing? But as more details come out, there is absolutely nothing positive about this project. For anyone in Alexandria, Virginia, fans in MD/DC. But hey, Monumental gets a payday. And Glenn. And probably the mayor.

Let's get real. Virginia and NoVa have no history of supporting public transportation and highways. The idea that Virginia will substantially increase its funding of Metro to pay for the expanded stop or of the surrounding highways is a joke. And latter assumes that there are ways to provide for easy access to and from PY.