MVT CID Message Regarding Capital One Arena
Thursday December 14, 2023
It is impossible to separate the presence of the destination attractions that surround us from the success of downtown’s East End, which includes our thriving Mount Vernon Triangle community. Hosting millions of visitors annually, these cultural, retail, entertainment, and conference amenities inject vibrancy on our streets and comprise the investment thesis for business owners who employ thousands of workers and contribute valuable revenues to the city’s tax base that are used to provide vital municipal services.
One such venue is Capital One Arena, located in Chinatown just a few blocks south of Mount Vernon Triangle. By now you may be aware that Monumental Sports, which owns the professional men’s basketball and hockey teams that play their home games at the arena, has received competing offers from the District of Columbia and the Commonwealth of Virginia to either maintain its presence at Capital One Arena, or relocate to a site in Alexandria that is currently undeveloped.
The District government has signaled its commitment to expediting the deal approval and public hearing process so that funding to renovate Capital One Arena is available by Spring 2024. The Mount Vernon Triangle CID stands strongly with Mayor Bowser and all 13 members of the DC Council and fully support their proposed investment to modernize the arena and secure a home for the Washington Capitals and Washington Wizards in the heart of the Nation’s Capital for years to come.
It remains our first preference that both teams stay in downtown Washington. However, we also are realistic that relocation – while not imminent – is a possibility and therefore are committed to working with city leaders and other partners on transition plans that help keep Chinatown active and vibrant in the near term while also creating a bold future vision for this critically important economic activity center for Washington, DC.
With the work of the Downtown Action Plan effort well underway, the next few years will be determinative toward forging a new future for downtown’s recovery and reimagination regardless of this location decision. Mount Vernon Triangle’s emergence into a vibrant, mixed-use downtown neighborhood is proof of that possibility. We remain clear-eyed yet positive about what lies ahead.
With very best regards,
Kenyattah A. Robinson, President & CEO
Mount Vernon Triangle Community Improvement District