Project Overview
Mayor Muriel Bowser, Events DC, and Monumental Sports & Entertainment are committed to promoting transformative community development in Washington D.C. by the construction of a new Entertainment and Sports Area (ESA). The ESA will be an innovative and unique venue that will provide a much-needed boost to on-going redevelopment in Ward 8, spur greater economic opportunities for residents, and help create more pathways to the middle class.
Catalytic Investment Opportunity
- The is estimated to generate 300 permanent and 600 construction jobs, with a goal of hiring residents from surrounding community
- The ESA is estimated to attract over 350,000 annual new visitors per year at stabilization.
- Over lease term, Monumental Sports is contributing rent equivalent to $400,000/year and investing $10 million as a community investment towards community and economic revitalization of the St. Elizabeths East campus and surrounding community.
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Anticipated total new tax revenues at $4.5 million annually for a total of $90 million in new tax revenues over 20 years
including ticket tax, concessions, and income taxes. - Total return on dollars invested for DC is a fiscal return of $4 for each $1 invested in the ESA.
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The ESA will drive private investment dollars to the St. Elizabeths East campus redevelopment, including enhanced retail
and hospitality opportunities adjacent to the Congress Heights Metro. - Will spur retail and private development dollars in the surrounding Congress Heights area.
Additional Community Benefits
- Paid summer youth program for 21-24 year-olds.
- Apprenticeship opportunities for Ward 7/8 residents.
- Ban the Box policy to provide greater employment consideration to ex-offenders.
- First Source Hiring requirements will provide opportunities to District residents.
- 35% CBE participation for construction and operations.
- Job shadowing programs to expose high-need students to careers in the construction, sports, entertainment and hospitality industries.
- Opportunity for Monumental and affiliated entities to occupy office space, bring partners to co-locate on the St. Elizabeths East site.
- Philanthropic investments into St. Elizabeths East campus, Ward 8 businesses, Ward 8 workforce development, Ward 8 related educational initiatives, Ward 8 healthy living and fitness efforts, and Ward 8 arts and cultural activities to the redevelopment effort.
Timeline
- Community Working Group and Outreach to Kick-off Winter of 2015/2016
- Anticipated construction start of July 2016
- Anticipated construction completion Fall 2018
Key Terms
- Total construction cost of $55M
- Sources of construction funds: Events DC $27M, District $23M, Monumental $5M.
- Monumental and affiliated entities will invest $10 million at the St. Elizabeths East Campus and in the surrounding community over the 19-year lease term which can include philanthropic investments.
- Events DC will construct facility.
- District to own facility and retain Events DC as events management company for operations and management under 19 year lease, at no costs to the District.
- District’s planned Stage 1 infrastructure improvements will service the facility.
Features
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5,000 seat Sports and Entertainment for use as:
- Concert/ entertainment venue
- Community event Programming
- Wizards Training Facility
- Arena for Mystics and other sports teams
- Parking and limited secured parking spots for Monumental
- Adjacent to Metro Station (Congress Heights)
- Located Outside of Phase 1 Area Currently Under Negotiation
