The process of moving D.C.’s NHL and NBA teams across the river to Virginia has taken a key step forward.
On Friday, two of Virginia’s Democratic lawmakers introduced legislation to facilitate funding for the proposed $2B entertainment district, set to house the Washington Capitals and Wizards beginning in 2028.
The development site proposed to house a $2B entertainment district at Potomac Yard in Northern Virginia.
Approval from the General Assembly is one of the remaining hurdles that must be crossed to advance the massive mixed-use development proposed for Alexandria’s Potomac Yard. Monumental Sports & Entertainment CEO Ted Leonsis announced the public-private partnership in mid-December, but it isn’t a done deal without approved funding from the state.
The proposed legislation on Friday lays out the path to fund the project using state bonds, and it creates a new authority to facilitate them.
Click here to read the rest of the article written by Emily Wishingrad over at Bisnow
