Coalition mounts opposition to proposed Monumental arena in Potomac Yard
ALEXANDRIA, Va. (DC News Now) — A newly formed group, Coalition to Stop the Arena at Potomac Yard, is elevating community concerns over the proposed $2 billion development of a sports and entertainment district.
Roughly 12 members convened at the development site Thursday morning to discuss concerns about the deal coming together with no knowledge of the public, possible traffic and crime impacts and whether the plan could actually deliver economically.
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The plan was announced in December 2023 by Gov. Glenn Youngkin (R), Alexandria Mayor Justin Wilson and Monumental Sports and Entertainment principal owner Ted Leonsis.
It would relocate MSE’s Wizards and Capitals from D.C. to a new arena as early as 2028. According to lawmakers, the plan requires no upfront investment from taxpayers. A yet-to-be-formed stadium authority would hold tax-free bonds. The project would supposedly pay for itself through the tax revenue generated by new businesses and restaurants in the area.
Shannon Curtis, a Del Rey resident, said the group has consulted numerous sports economists about the proposal, and their findings suggest that lawmakers are overpromising on the MSE deal.
“The research pretty much universally says that sports venues do not provide a net economic benefit to their communities,” Curtis said.
A study conducted by HR&A Advisors, a consultancy firm hired by the City of Alexandria, reports that the project could generate nearly $8 billion in revenue per year.
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Curtis said there’s too little detail included in the summary of the report, which was released to the public.
“A huge, huge amount of issues, a tremendous amount of unanswered questions,” she said.
The group, which has amassed 1,700 signatures on a petition to thwart the project, plans to lobby members of the Virginia legislature as it begins its new session next week to encourage lawmakers to vote against the stadium authority bill.
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