ALEXANDRIA, Va. (7News) – What kind of effect will the proposed sports complex at the Potomac Yard have on local businesses and asset owners?
That was part of the discussion during a virtual town hall meeting Wednesday night.
Now, we must be clear, the “Stop the Arena Coalition” organized this at City Hall and no one from Monumental Sports and Entertainment or the Alexandria government provided it. Those who provided it opposed this decision.
They agree that the way to fight this scenario is to keep it out of the hands of the city of Alexandria or the Virginia General Assembly, and impose a referendum and let the electorate decide.
The advocacy organization invited visitors such as Brian Hess, executive director of the Sports Fans Coalition, a national nonprofit advocacy organization, to address considerations about transportation and monetary effects, as well as parking and quality of life.
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Metro CEO Randy Clarke has made it clear that the newly opened Potomac Yard Metro station cannot accommodate stadium-sized crowds and will want an upgrade.
To inspire the choice of transportation, the initial allocation provides for minimal on-site parking, which is a primary concern.
Hess calls this a monumental disaster, arguing that public investment in sports stadiums rarely produces the economic outcomes promised by lawmakers.
“The proposed entertainment district at Potomac Yards appears poised to fall victim to the same overheated economic progression forecasts,” Hess said in a statement. “Governor Youngkin’s proposal would require the General Assembly to authorize the issuance of $2 billion in government bonds. In addition, the citizens of Alexandria are invited to contribute up to $106 million in additional funds. Monumental Sports
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On the other side of this monumental argument and approach, Monumental Sports and Entertainment said that this entertainment district is expected to generate about 2 1/2 times the economic output of what would otherwise be built based on existing progression plans, according to and have an effect on research conducted by the Alexandria Economic Development Association.
The development will also result in 30,000 new jobs, according to an impact analysis done by the Alexandria Economic Development Partnership (AEDP).
The city of Alexandria will hold its own town hall on Saturday, Jan. 27 at 9:30 a.m. at the Charles Houston Recreation Center, 901 Wythe St, Alexandria, VA 22314. A virtual meeting will be held on Thursday at 7 p.m.
The city corridor will be an opportunity to answer questions from the community, answers that will emerge from the other aspect of this monumental movement.