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Opinion | D.C. shouldn’t give up its arena fight — but must prepare for a post-Wiz world

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Opinion | D.C. shouldn’t give up its arena fight — but must prepare for a post-Wiz world


The contest between Virginia and Washington over two professional sports franchises — the Wizards in basketball and Capitals in hockey — is not quite over, but Virginia is well ahead in the fourth quarter. The commonwealth’s General Assembly and Alexandria’s city council still have to sign off on a new arena in Potomac Yard, but if they do, and if other present trends continue, the city will soon lose NBA and NHL franchises that began playing downtown 27 years ago.

We wish the teams would stay. The current location is in the heart of the region just a few blocks from the White House. The arena anchors a downtown neighborhood of residents, offices, bars and restaurants hugging Seventh Street NW, and it sits on top of a Metro hub that’s easily accessible to residents from all corners of the region. Losing these teams will be a blow to an increasingly hollowed-out downtown Washington. Ideally, the teams’ owner, Ted Leonsis, would reconsider the city’s generous final offer to stay in a downtown he helped to succeed for many years.

But Mr. Leonsis and his company, Monumental Sports & Entertainment, appear ready to leave. Unlike the space in Potomac Yard, the teams’ current arena has little room to expand. D.C. is struggling to combat a violent crime surge, and the city did too little to address years of complaints about nuisances and declining safety in the arena’s neighborhood. More importantly, the city failed to get its best offer to Mr. Leonsis in time once he indicated he was serious about moving. If Mayor Muriel E. Bowser (D) had submitted her final proposal — an $800 million arena renovation, with $500 million paid for by the city — months ago, Mr. Leonsis might have accepted it. In the meantime, Virginia Gov. Glenn Youngkin (R) offered Mr. Leonsis a $2 billion development with a massive new arena surrounded by the sorts of things that are harder to build in downtown Washington: team practice facilities, offices for Mr. Leonsis’s company, a hotel, an additional concert venue, a Virginia Tech campus, housing, shops and restaurants.


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The two proposals side by side

$2 billion (plus $200 million for transportation upgrades)

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What

Monumental

Sports pays

$400 million upfront plus $400 million in lease payments over time

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$400 million plus ongoing lease payments

How the

rest of the

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project is

financed

Initial offer: About $200 million. Final offer: $500 million bond paid back by D.C. taxpayers.

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$1.1 billion in bonds paid back by tax revenue generated in new arena area. Plus $100 million from Alexandria

Suburban. Served by two Metro lines.

Urban. Served by all six Metro lines.

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Development

around

the arena

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Twelve-acre development with new practice facilities, hotel, a concert venue, retail, offices and residences. It will be art of a 70-acre plan for Potomac Yard.

The D.C. arena is 5 acres in the heart of the city near the White House, hotels and businesses. Practice facilities are elsewhere.

JBG Smith and a pension fund own the land

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D.C. government owns land

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The two proposals side by side

$2 billion (plus $200 million for transportation upgrades)

What

Advertisement

Monumental

Sports pays

$400 million upfront plus $400 million in lease payments over time

Advertisement

$400 million plus ongoing lease payments

How the rest

of the project

is financed

Advertisement

$1.1 billion in bonds paid back by tax revenue generated in new arena area. Plus $100 million from Alexandria

Initial offer: About $200 million. Final offer: $500 million bond paid back by D.C. taxpayers.

Advertisement

Urban. Served by all six Metro lines.

Suburban. Served by two Metro lines.

Development

Advertisement

around

the arena

Twelve-acre development with new practice facilities, hotel, a concert venue, retail, offices and residences. It will be art of a 70-acre plan for Potomac Yard.

Advertisement

The D.C. arena is 5 acres in the heart of the city near the White House, hotels and businesses. Practice facilities are elsewhere.

JBG Smith and a pension fund own the land

D.C. government owns land

Advertisement

The two proposals side by side

Advertisement

$2 billion (plus $200 million for transportation upgrades)

What Monumental

Sports pays

Advertisement

$400 million upfront plus $400 million in lease payments over time

$400 million plus ongoing lease payments

How the rest of the

Advertisement

project is financed

Initial offer: About $200 million. Final offer: $500 million bond paid back by D.C. taxpayers.

$1.1 billion in bonds paid back by tax revenue generated in new arena area. Plus $100 million from Alexandria

Advertisement

Suburban. Served by two Metro lines.

Urban. Served by all six Metro lines.

Advertisement

Development around

the arena

The D.C. arena is 5 acres in the heart of the city near the White House, hotels and businesses. Practice facilities are elsewhere.

Advertisement

Twelve-acre development with new practice facilities, hotel, a concert venue, retail, offices and residences. It will be art of a 70-acre plan for Potomac Yard.

JBG Smith and a pension fund own the land

D.C. government owns land

Advertisement

For Mr. Leonsis to consider staying, D.C. would likely have to show progress on combating crime and a vision for revitalizing the neighborhood. The iconic Gallery Place mall and office complex adjacent to the arena is hemorrhaging tenants and seeking a new owner. It’s worth Ms. Bowser making a final pitch for the teams. Washington needs them more than Virginia does, and city officials shouldn’t give up until the relocation deal is final. Even if they fail, committing to some of the things that would make D.C. a more attractive place for Mr. Leonsis would make it a better place for others to do business, too.

Our view: D.C. will lose more than the Capitals and Wizards if it doesn’t act fast

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Nevertheless, Mr. Leonsis is probably going to move the teams. While Mr. Youngkin and other Virginia leaders would no doubt rejoice, there are risks on their side of the Potomac. The new arena project’s $2 billion price tag is hefty. Mr. Leonsis would pay $400 million up front and then another $400 million over time to rent the arena. The city of Alexandria would kick in about $100 million. The remainder — roughly $1.1 billion — would come from bonds that are repaid by taxes collected within the 12-acre site. That means all the sales taxes, parking revenue, income taxes, corporate taxes and a ticket tax would go to repay the bonds.

Mr. Youngkin says that no Virginia taxpayer money would fund the project. Even modest crowds would likely generate enough revenue to pay back the bonds. But if those crowds fail to materialize, Virginia taxpayers would be on the hook for up to $577 million, since the state is backstopping part of the loan. Alexandria residents would be responsible for another $577 million in the worst-case situation. Virginia lawmakers should ask about scenarios in which there is another pandemic and 220 events a year don’t happen. State leaders should also make ironclad Mr. Leonsis’s promise to keep the teams at the Potomac Yard site until 2064 or pay back the loan balances. Many cities — ask St. Louis and Oakland — have been stuck paying bills after sports teams left.

Transportation is the Virginia site’s biggest drawback. The arena could hold 20,000 fans. But the current Potomac Yard Metro station is small. The highways around Potomac Yard are already jammed, and there’s no Amtrak or Virginia Railway Express stop there. Mr. Youngkin’s team says the state will invest $200 million to help, but they haven’t said where that money will come from. Mr. Youngkin has also yet to promise any more funding to help keep Metro going in 2025 or beyond. State lawmakers need to ensure shoring up Metro is part of any arena funding package. Also still unknown is who will pay for extra policing in the area, and how to ensure that a new Virginia Sports and Entertainment Authority, which would oversee the new arena district, has to account for all the money and contracts it will handle. A lack of transparency with similar authorities in Chicago caused massive problems.

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As Virginia sorts out these crucial details, D.C. needs to prepare for a post-Wizards world. Ms. Bowser has launched a task force to generate new ideas for the Gallery Place-Chinatown neighborhood. There’s early talk of a concert venue and a welcoming public space in the area. (Cleveland’s downtown Public Square is a good model, with a cafe, a splash pad for kids and green space for relaxing.) If the city doesn’t have to give Mr. Leonsis $500 million, it could use the money for other needs.

But no amount of money will make up for failing to get the basics right: ensuring public safety and cultivating a business-friendly climate. D.C. can no longer assume that people and businesses want to locate in urban centers; the city and its leaders must compete for them. Even if it loses this round, Washington can rally for the next.



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Washington, D.C

Storm Team4 Forecast: Showers, cool temps to start off the workweek

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Storm Team4 Forecast: Showers, cool temps to start off the workweek


4 things to know about the weather:

  1. Shower chance Monday morning
  2. Cooler Monday
  3. Midweek rain chance
  4. Warmer end to the week

Showers continue to move west with a cold front tonight. There will be a break in the rain overnight, but showers return for the start of the day on Monday. Monday afternoon will be dry, but noticeably cooler.

Sunshine returns Tuesday, but the break in the rain will be short-lived with rain chances on Wednesday

Download the NBC Washington app on iOS and Android to check the weather radar on the go.

QuickCast

TONIGHT:
Showers early
Mostly cloudy
Wind: N 5-10 mph
LOW: Low 50s

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MONDAY:
Morning shower chance
Wind: N 5-10 mph
HIGH: Upper 60s

TUESDAY:
Sunny
Wind: N 5-10 mph
HIGH: Near 70°

WEDNESDAY:
Shower chance
Wind: S 5-10 mph
Gusts at 20 mph
HIGH: Low 70s

SUNRISE: 5:59 a.m.    SUNSET: 8:10 p.m.
AVERAGE HIGH: 75°   AVERAGE LOW: 56°

Stay with Storm Team4 for the latest forecast. Download the NBC Washington app on iOS and Android to get severe weather alerts on your phone.

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BXP Headquarters Shift Highlights Tenant Strategy And Washington DC Portfolio Choices

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BXP Headquarters Shift Highlights Tenant Strategy And Washington DC Portfolio Choices


  • BXP (NYSE:BXP) is relocating its regional headquarters to make room for major tenant the Washington Commanders in Foggy Bottom.
  • The company is moving into a newly renovated downtown Washington, DC office building as part of this shift.
  • The relocation aligns with recent leasing activity and capital deployment in the DC market.

For investors watching NYSE:BXP, this move ties directly to how the company is using its portfolio to support active leasing and tenant relationships. The stock last closed at $59.46, with a 15.0% return over the past 30 days and a 1.7% return over the past week, while the return over the past 5 years is a 27.4% decline. These mixed signals highlight why operational updates like this relocation can matter alongside price performance.

The decision to prioritize space for an NFL franchise tenant and occupy a freshly renovated downtown asset provides additional context on how BXP is positioning its DC footprint. As more details emerge on leasing terms, occupancy, and future capital plans around these properties, investors can use this event as another data point when assessing how the company is managing growth and risk in a key office market.

Stay updated on the most important news stories for BXP by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on BXP.

NYSE:BXP Earnings & Revenue Growth as at May 2026

3 things going right for BXP that this headline doesn’t cover.

This headquarters move sits at the intersection of BXP’s tenant strategy and its capital deployment in Washington, DC. By giving the Washington Commanders a larger footprint in Foggy Bottom and shifting its own team into a recently refurbished, US$25 million downtown building, BXP is effectively using its portfolio as a tool to secure and retain high profile tenants. That matters for a company whose first quarter 2026 revenue of US$872.15 million and net income of US$101.58 million depend heavily on occupancy and long term leases. It also aligns with management’s comments about portfolio performance contributing to an increased full year 2026 EPS guidance range of US$2.15 to US$2.29 per diluted share, where gains on sales and operating trends both play a role.

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How This Fits Into The BXP Narrative

  • The relocation supports the narrative catalyst around a flight to quality, as BXP is concentrating activity in well located, premier DC assets that can appeal to blue chip tenants such as the Commanders.
  • At the same time, shifting internal space and accommodating a large tenant concentrates exposure in a single market and property cluster, which could challenge assumptions about diversification and leasing flexibility if demand softens.
  • This news adds detail on how BXP is using headquarters space as part of broader leasing negotiations, a nuance that may not be fully reflected in narrative discussions focused on development projects and capital recycling.

Knowing what a company is worth starts with understanding its story.
Check out one of the top narratives in the Simply Wall St Community for BXP to help decide what it’s worth to you.

The Risks and Rewards Investors Should Consider

  • ⚠️ Higher tenant concentration in a single NFL franchise could increase earnings sensitivity to one lease, especially if sector headwinds or usage changes affect long term space needs.
  • ⚠️ The move comes against a backdrop where analysts have flagged occupancy pressure and interest coverage as key risks, so additional capital tied to renovations and relocations may constrain flexibility if conditions tighten.
  • 🎁 Hosting the Commanders in Foggy Bottom may support occupancy and brand appeal across nearby properties, which can help leasing in a competitive office market.
  • 🎁 Moving into a newly renovated downtown office can signal confidence in DC as a core market and help BXP’s own staff operate closer to tenants and development activity.

What To Watch Going Forward

From here, keep an eye on leasing metrics and disclosed terms around the Commanders’ space, including remaining lease length, rent levels, and any associated capital commitments. It is also worth watching how occupancy and cash flow from the renovated downtown building show up in future quarterly results, alongside the company’s EPS guidance for 2026 of US$2.15 to US$2.29 per diluted share. Any commentary on additional relocations, asset sales, or redevelopment plans in DC will help you judge whether this move is part of a broader repositioning of the portfolio or a one off response to a single tenant opportunity.

To ensure you’re always in the loop on how the latest news impacts the investment narrative for BXP, head to the
community page for BXP to never miss an update on the top community narratives.

This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.
It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

Valuation is complex, but we’re here to simplify it.

Discover if BXP might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.

Access Free Analysis

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

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Candidates for mayor and D.C. congressional delegate outline vision for District’s future

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Candidates for mayor and D.C. congressional delegate outline vision for District’s future


By Megan Sayles
AFRO Staff Writer
msayles@afro.com

The Washington Informer teamed up with the D.C. Democratic Party (DC Dems), the Washington Association of Black Journalists (WABJ), the Greater Washington Black Chamber of Commerce (GWBCC) and the Greater Washington Urban League (GWUL) to host a debate for delegate and mayoral candidates in D.C. on May 2. 

Mayoral candidates for D.C., including former Ward 5 Councilman Vincent Orange (left), Ward 4 Councilwoman Janeese Lewis George, Gary Goodweather, Rini Sampath, and former at-large Councilman Kenyan R. McDuffie participate in a debate hosted by The Washington Informer on May 2. Credit: Photo courtesy of Rini Sampath on X

The debate covered critical issues, including housing affordability and displacement, education outcomes and economic equity. 

Mayoral candidates debate how to balance growth with equity 

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The mayoral candidates included Councilman Vincent Orange, Councilwoman Janeese Lewis George, Gary Goodweather, Rini Sampath, and former at-large Councilman Kenyan R. McDuffie

Each drew clear distinction on how to balance economic growth with equity, particularly when it comes to housing education and access to opportunity for D.C. residents. 

On economic policy and business investment, candidates debated whether the city’s challenges stem from revenue or how funds are managed. Sampath emphasized the need to grow the tax base by supporting businesses, arguing that social programs depend on economic strength. 

“We need to be attracting businesses to Washington,” said Sampath. “We need to make sure it’s easier for them to thrive.” 

Goodweather pointed to inefficiencies in city spending, proposing the creation of an equity map to track investments in D.C. residents and businesses.  

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“We’ve increased our budget 70 percent over the past seven years. Our economy is down 8.5 percent,” said Goodweather. “We need to take a look at the budget and double down on the services that are working. For the ones that aren’t, we need to reallocate those dollars somewhere else.” 

Lewis George framed economic growth and affordability as interconnected, arguing that stabilizing residents ultimately benefits businesses.  

“What we do is we set up a system in which we allow people to be able to afford to live here,” said Lewis George. “When people can afford child care, housing, groceries and utilities that means those people are going to patronize our businesses.” 

Education also emerged as a key issue. All candidates said they would keep mayoral control over D.C. Public Schools. 

McDuffie emphasized improving the quality of schools and workforce pathways. 

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“We’re going to address overcrowded schools West of the park by making better quality schools East of the park,” said McDuffie. “We’re going to make sure we focus on early literacy, trades and apprenticeships for our middle school students— giving them early access to jobs that are being created in projects across the District.”

Lewis George highlighted the need for stronger oversight and student engagement, particularly around attendance. 

“I will also be addressing chronic absenteeism because if our students aren’t in school, we can’t close the literacy and math gap at all,” said Lewis George. 

Orange proposed making the University of the District of Columbia tuition-free and doubled down on greater investment in workforce development for students. 

“I will make sure that every agency in the District of Columbia has a paid youth apprenticeship program upon graduation from high school to make sure that our young people have health benefits, retirement benefits and entry level jobs and they will grow with the District of Columbia,” said Orange. 

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On housing and displacement, particularly around the planned redevelopment of the RFK Stadium site, candidates offered competing visions for ensuring longtime residents can remain in their communities. 

Orange called for deeper affordability thresholds and community input. 

“I’m not talking about 80 percent of the area median income, I’m down at 40 or 50 percent of the area median income,”  said Orange. 

Sampath stressed the need for stronger planning and renter protections, noting that of the 6,000 homes being developed under the project, only 30 percent are affordable.

“We need to make sure we’re protecting our renters rights in that region,” said Sampath. “Under my administration, we will have an equity plan that names exactly how we will do that.” 

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Candidates for D.C. delegate, including Kinney Zalesne, former White House fellow; at-Large Councilman Robert White; Trent Holbrook, former senior legislative counsel to Norton; Greg Jaczko, former chairman of the U.S. Nuclear Regulatory Commission; and Ward 2 Councilwoman Brooke Pinto participate in a debate hosted by The Washington Informer on May 2. Credit: Photo courtesy of D.C. Democratic State Committee

Delegate hopefuls outline priorities for statehood, housing and economy  

D.C. delegate candidates are vying to succeed longtime D.C. Delegate Eleanor Holmes Norton, who announced her retirement in January after more than three decades in Congress. 

They include: Kinney Zalesne, former White House fellow, Councilman Robert White, Trent Holbrook, former senior legislative counsel to Norton; Greg Jaczko, former chairman of the U.S. Nuclear Regulatory Commission; and Councilwoman Brooke Pinto. 

On the question of D.C. statehood, White and Holbrook argued that it’s the right moment to finally push the decades-long effort across the finish line. 

“People are hungry for a leader that can direct our energy and resources. I’m going to be that leader and build on top of what Congresswoman Norton did,” said White. “This is our time to get statehood.”

Zalesne, meanwhile, emphasized that advancing D.C.’s priorities will require broadening the city’s coalition of political allies and rethinking its economic strategy. 

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“We need to rethink our economy,” said Zalesne. “That wasn’t true for most of her leadership, but it is now because we’ve had a full frontal assault on our economy by this administration, and we need someone with business experience.” 

Pinto also focused on economic transformation, particularly as it relates to adapting to emerging industries. 

“I think the biggest difference we need to lean into is accepting new industries to come here,” said Pinto. “We are in an AI revolution, and if we don’t get this right and properly regulate it to keep residents safe, we’re going to miss the boat and wish we had done it sooner.” 

On housing affordability, candidates largely agreed the crisis requires both federal intervention and local accountability. White argued for expanding federal involvement through land transfers to the District to support affordable housing development. Holbrook proposed reviving and adjusting a first-time homebuyers tax credit and increasing funding for public housing vouchers. 

Jaczko emphasized expanding access to credit and restoring programs aimed at helping first-time buyers. 

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“One of the programs that’s been severely decimated by the Trump administration is an opportunity for alternative credit programs to allow people who may not have significant credit history to afford a home and to buy a home,” said Jaczko. “That’s an area that I will specifically focus on working to reestablish that program.” 

Pinto highlighted her “Breaking Ground D.C.” plan, which includes repealing the federal Height Act and building housing above transit corridors and making rent tax-deductible.  

Job displacement and the future of the federal workforce also emerged as a central concern, particularly amid federal layoffs and broader workforce reductions affecting Black and low-income communities. 

Pinto argued that the next delegate must focus on both protecting federal workers and helping them transition into new careers. 

“It is imperative that our congressional delegate is strong on supporting our federal workforce and on helping people upskill and learn other skills to be part of the economy in other places if they have lost their job,” said Pinto. 

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Zalense tied these shifts to the erosion of the Black middle class in D.C. 

“The DOGE program was not about efficiency. We know that. It was about destroying the Black middle class, and we have got to take that personally,” said Zalense. “We have got to be outraged, and we’ve got to fight for those jobs to come back in a Democratic administration.



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