Gov. Glenn Youngkin on Wednesday announced a $2 billion public-private partnership to create a world-class leisure district in Alexandria’s Potomac Yard adjoining to the Virginia Tech Innovation Campus.

This 9 million-square-foot district developed by JBG SMITH will characteristic the worldwide company headquarters for Monumental Sports & Entertainment (MSE), an industry-leading enviornment for each the Washington Capitals and Washington Wizards, a Monumental Sports Network media studio, the Wizards observe facility, a performing arts venue, and an expanded esports facility along with bringing new retail, residential, eating places, motels, convention, and neighborhood gathering areas, in keeping with the information launch from the governor’s workplace.

“This is the most visionary sports and entertainment development in the world, bringing together entertainment, sports, and technology in the most advanced innovation corridor in the United States: a once-in-a-generation and historic development for the commonwealth, sports fans, and all Virginians. The commonwealth will now be home to two professional sports teams, a new corporate headquarters, and over 30,000 new jobs – this is monumental,” Youngkin stated.

“The Commonwealth of Virginia is truly a catalyst for innovation, and this transformational project represents a unique opportunity for the region’s premier sports and entertainment company to forge meaningful connections with Virginia Tech and other corporate partners in the region, including Amazon, Boeing, and Raytheon. This district will generate tens of thousands of jobs and billions of dollars in economic impact, creating a prime regional destination,” stated Secretary of Commerce and Trade Caren Merrick.

Ted Leonsis, proprietor of Monumental Sports & Entertainment, sported a Virginia Tech tie at Wednesday’s announcement occasion at Potomac Yard. Gov. Youngkin, Leonsis, and Sen. Mark Warner have been among the many audio system on the information occasion.

Located on the Potomac River simply throughout from Washington, D.C., the leisure district is definitely accessible by all modes of transportation and is minutes from the newly opened Potomac Yard-VT Metro Station, Ronald Reagan National Airport, neighborhood bike paths and foot trails, and underground parking. Joining National Landing as a part of Potomac Yard, the leisure district might be adjoining to the Virginia Tech Innovation Campus and close to Amazon HQ2, creating alternatives for distinctive partnerships between MSE and Virginia Tech centered on entrepreneurship, sports activities analytics, immersive applied sciences, and progressive new enterprise and media methods.

“We’re excited by Monumental Sports & Entertainment’s plans to be our neighbor in Potomac Yard,” Virginia Tech President Tim Sands stated. “We believe in the great potential of this location and are eager to welcome others who are passionate about this community and building an exciting and vibrant future together.”

This public-private partnership is topic to legislative approval by the Virginia General Assembly and the City of Alexandria. In the upcoming General Assembly session, legislators might be requested to approve the creation of a brand new Virginia Sports and Entertainment Authority.