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D.C. United will build a new 20,000-25,000-seat soccer stadium in the Buzzard Point area of Southwest. The new stadium plan will not only continue the transformation of the Anacostia waterfront, it also includes mixed-use redevelopment projects at other locations around the city which will result in additional job creation and economic benefits for the District.
Similar to the highly successful Verizon Center agreement, under this package, D.C. United will be responsible for privately financing and constructing the $150 million stadium while the District will be responsible for assembling the land and preparing it for development (street lights, sidewalks, curbs etc.).
The new stadium will be located next to the Fort McNair Army base and will be bound by Second Street SW and Half Street, between R and T Streets SW.
The plan will generate $2.3 billion in economic activity over 30 years and net $265 million to the District's bottom line in the same time period. This revenue could be used for priorities such as education, affordable housing and public safety.
The plan will create 2,471 total jobs: 1,756 construction jobs and 715 permanent positions. A project labor agreement (PLA) has been signed with labor organizations that will ensure DC residents get first priority for construction jobs.
D.C. United is paying all costs for the construction of the stadium using private funds. It is currently estimated at $150 million, and the team will be responsible for any cost overruns experienced during the construction of the project.
The new stadium will host more than fifty events each year and host many other uses besides professional soccer. It will be utilized for headline concerts, cultural events, school-age sports, college soccer, football, lacrosse, and more.
The District will own the land indefinitely and lease it to the team for the term of the lease. At the end of the lease, the District will own the land and all improvements on it. Assuming that land values in the District of Columbia continue to grow at 7% per year (comparable to land value growth in other parts of the city over the past 30 years), the stadium site will likely be worth more than $700 million at the end of the lease. It will be worth far more if private development occurs around the stadium site, similar to what has happened around the Verizon Center and Nationals Ballpark.
No. The project will result in no new taxes on District residents or businesses.
The District government has been negotiating agreements with D.C. United and various property owners of the proposed stadium site. After these agreements are completed, they will be presented to the Council for a vote.
