Washington commanders have signed a $ 3.7 billion deal with Columbia district, to construct a roof, 65,000 -seat stadium in the country’s capital.
Commanders owner Josh Harris and DC Mayor Muril Boseer announced the development project on Monday, the NFL team committed to pay at least $ 2.7 billion and DC to pay $ 500 million for the infrastructure towards the stadium.
The use of taxpayer money should be approved by the DC City Council.
The site is about 177 acres, including the team’s former house, RFK Stadium for 1961–96 to 35 sessions. The franchise is called the Northwest Stadium in Landover, MD in 1997. The team’s lease lasts up to 2027 and can be pending one step.
Harris has targeted the new stadium to open by 2030.
The ownership group considered options in Maryland and Northern Virginia, where the training facility of the commanders is based. Harris said in Monday’s press conference that the team will be “coming home” for DC
“Now we want to bring commanders home with a new RFK that our fans will like, our opponents will be afraid,” he said. “It will be loud. We want to make it about football, but also about the city and community. And we want to host the world’s largest and best programs.
“When our ownership group started on this journey two years ago, we gave three clear priorities,” they continued. “Create a championship-caliber team, improve fan experiences and have a positive impact on this community. Today’s declaration is an important part of that vision. Let’s come home.”
Harris called it the largest single private investment in the history of DC.
“The project is much higher than the construction of a stadium,” he said. “This is a once-generation opportunity to create a catalyst for long-term, transformational economic growth in DC, meaning thousands of new jobs, billions of new tax revenue, thousands of new houses, partnerships with local businesses and about 90 acres of mixed-utilization development for our community. And what do you know?
According to the city, the DC government will use sports fees for its $ 500 million investment, its operating budget will not be required. Once operated, developing parking will be financed through a revenue bond fund of $ 175 million by in-stadium activity.
Taxpayers can finance more than $ 1 billion if parking facilities, entertainment and inclusion of infrastructure of water and electricity.
According to a news release, at least 30 percent of the entire campus is expected to build 6,000 housing units including affordable housing. The scheme also includes development for retail, restaurants, entertainment, hotels and extended recreation facilities, including a $ 89 million sportsplace.
“What our deal with Washington commanders provides the RFK is the fastest and best route to develop the complex,” Bowseer said at the news conference. “And providing not only sports and entertainment, but also to provide housing, job, entertainment and economic development.
“We will be able to give thousands of houses here,” he continued. “It will provide a world-class, community-focused sportsplace for our children. It will create a park space and build a riverfront and trails. It is about making jobs for DC residents and revenue that will support all the needs of our city.”
NFL Commissioner Roger Goodll said that he has memories of growing up in Washington, DC and going to the Games at RFK Stadium.
“We are grateful for the leadership of Mayor Boseer in Josh Harris’ vision and determination and advancing this transformational project,” Goodbye said in a news release. “This world -class stadium will not only be an exciting site for NFL Games and events at a prestigious location, but it will also be a community property and an economic driver.”
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