$515 million Capital One Arena reconstruction underway, pictures show futuristic design
WASHINGTON, D.C. - The three-year reconstruction plan of Capital One Arena is underway. Here's what you need to know.
The plan is for an $800 million renovation to be finished by the fall of 2027. $515 million will come from the District's capital budget, with Monumental paying $285 million more. Monumental CEO Ted Leonsis says he could see Monumental spending more than that.
Executed in six phases, the project is expected to be delivered in time for the 2027-28 NBA and NHL seasons.
"It’s going to be messy. It’s going to be long and hard three years of deconstruction and then construction, but we’re up for that task," Leonsis said, "When we won the Stanley Cup, one of the themes was that it’s worth the wait, and that’s how I feel will happen with this investment."
DC Mayor Bowser proposes $87.5 million purchase of Capital One Arena; project renderings released
Washington, D.C. Mayor Muriel Bowser has proposed legislation to purchase Capital One Arena for $87.5 million.
"The arena will be a marvel of modern design and technology, the intersection of style and comfort and a futuristic and first-class fan experience from street to seat," said Ted Leonsis. "In this greatest city in the world with its extraordinary and historic monuments, we believe this building will be a monument but built on momentum – something bold and bright for now and the future."
"We know what our sports teams mean to DC, and we’re proud to be partnering with Ted Leonsis and Monumental Sports to deliver a once-in-a-generation investment in the future of our city," said Mayor Bowser. "It’s a catalytic investment that’s good for our Downtown, our city, as well as the teams, fans, and entire region. Thank you to the neighbors, business owners, advocates, and everyone else who stayed in the fight with us."
The project is aimed at being a lively focal point for Downtown D.C. as a vibrant community space that is easily accessible.