Breaking down new Capitals Potomac Yard arena announcement

The Washington Capitals and Monumental Sports and Entertainment are leaving Capital One Arena. Ted Leonsis along with Virginia governor Glenn Youngkin announced details surrounding the two billion dollar project in a press conference on Wednesday.

The project’s goal is to be completed by 2028. The press conference was at the site of the new arena which will be located in the Potomac Yard neighborhood in Alexandria, Virginia.

Youngkin said:

“Virginia will not only be the best place to watch hockey to watch basketball, but it will be the best place to innovate and press the envelope in what we can do together.”

The move to Virginia will boost the commonwealth. The arena complex is adjacent to the Virginia Tech satellite campus and the college and Monumental look to partner up to create programs for the students. They would also benefit from 30,000 new jobs created when the project is complete.

While this will be a win for Virginia, this would be a major blow to the District of Columbia. Capital One Arena, in what was once called the MCI Center, was a big part of the revitalization of the Chinatown neighborhood.

While D.C. will still have MLS, XFL, WNBA, and MLB within the city, not having hockey nor basketball would be a big loss. But what would make up for it is if the Commanders new stadium winds up being at the RFK site.

Potomac Yard has a brand new Metro station that is easily accessible. Virginia isn’t known for pro sports as the only real connection is D.C. United training in Leesburg, the Commanders in Ashburn, and the Capitals in Arlington.

But it’s not foreign to sports. There’s some good colleges in Virginia and with good colleges comes good college rivalries. There’s a good one in football between Virginia Tech and UVA.

“You’re the most successful state without professional sports teams,” Leonsis said to Youngkin in the press conference.

Adding an NHL and an NBA team would boost the state of Virginia, a state that continues to grow with the vibrant construction in Northern Virginia. It’ll also be convenient for Caps and Wizards fans that live in Virginia, which is a good number.

The only downside really is it’ll take longer for fans in DC and Maryland to get to the games. While the metro helps, parking does remain a question and of course there’s that dreaded Northern Virginia traffic.

But this will be a big win economically for a state that is continually growing.