Monumental MVT CID Update Regarding Capital One Arena

Thursday March 28, 2024

As you may now be aware, it was announced late afternoon yesterday, March 27 that the District of Columbia and Monumental Sports & Entertainment have reached an agreement to transform Capital One Arena and expand Monumental’s footprint downtown, thus paving the way for the Washington Wizards and Washington Capitals – DC’s professional basketball and hockey teams – to remain in the District through 2050.

There is no other way to put it: this is a major win for both the downtown and our entire city. Given its standing as a magnet, activity center, and economic driver for our broader neighborhood, it’s also a huge win for our Mount Vernon Triangle community.

In December 2023, MVT CID stood in strong support with Mayor Bowser and all 13 members of the DC Council in their proposed investment to modernize the arena and secure a home for the Capitals and Wizards in the heart of the Nation’s Capital for years to come. We convened a meeting between restaurant stakeholders – including representatives from bartaco, dLeña, Baan Siam, Prost, Bar Chinois, RPM Italian, and Stellina Pizzeria – and Nina Albert, DC’s now Deputy Mayor for Planning and Economic Development, in late December to highlight the significant financial impact to our businesses should the teams leave [see post-meeting photo here]. And we shared your open and candid Neighborhood Perception Survey feedback with economic development leaders to underscore the heightened uncertainty, anxiety, personal ripple effects that loss of this critically important amenity would have on the thousands of residents who call Mount Vernon Triangle home.

We thank Mayor Bowser and her team for their significant leadership on this exciting outcome. And we join her in recognizing the many others – including MVT CID’s colleagues at the DowntownDC and Golden Triangle business improvement districts for their collaboration on the Downtown Action Plan, cited by Monumental Sports leadership as a key factor in their decision to remain in the District – who were part of this effort to keep our sports teams in the District, Capital One Arena alive, and Chinatown vibrant for many years to come.