JBG Smith, companions are planning an arena-centered venture in DC’s Virginia suburbs. Picture courtesy of JBG Smith
JBG Smith and companions Monumental Sports activities & Leisure, the Commonwealth of Virginia and the Metropolis of Alexandria will develop a mixed-use leisure district in the end totaling about 9 million sq. toes and anchored by a brand new area for the NBA’s Washington Wizards and the NHL’s Washington Capitals, within the Potomac Yard part of Nationwide Touchdown, JBG Smith introduced.
The venture stays topic to “definitive documentation and relevant governmental approvals,” the announcement said.
Along with the sector, present plans name for a company headquarters for Monumental Sports activities & Leisure (MSE), a Monumental Sports activities Community media studio, a observe facility for the Wizards, a performing-arts venue and an e-sports facility. JBG Smith would be the developer for all of those besides the observe facility.
The location is adjoining to the $1 billion Virginia Tech Innovation Campus, the lately opened Potomac Yard-VT Metro station, and about 8.1 million sq. toes of potential future improvement.
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The world will probably be constructed on a presently unoccupied 12-acre web site that’s owned by JBG Smith and its three way partnership companion and will probably be bought to a proposed Virginia Sports activities and Leisure Authority.
JBG Smith is also the grasp developer of about 55 acres surrounding the venture, with a complete potential improvement of about 8.1 million sq. toes, of which JBG Smith owns roughly 1.5 million sq. toes.
Actually mixed-use
Nationwide Touchdown encompasses components of the Crystal Metropolis and Pentagon Metropolis neighborhoods of Arlington County, Va., and the Potomac Yard neighborhood within the metropolis of Alexandria, Va.
Along with the above-mentioned Virginia Tech Innovation Campus, Nationwide Touchdown is the location of Amazon’s 2.1 million-square-foot HQ2 headquarters, the primary part of which opened in June. JBG Smith additionally has 1,583 multifamily items beneath development there, with 808 on observe to ship in early 2024. And this fall, the developer opened Water Park, a 1.6-acre venue with 11 foods and drinks ideas, in Nationwide Touchdown.
MSE is the proprietor of the Wizards, the Capitals and the WNBA’s Washington Mystics, in addition to Capital One Area in Washington, D.C., present dwelling of the Wizards and Capitals.
