Tentative Deal Reached for Wizards Practice Facility

Washington Wizards owner Ted Leonsis and Mayor Bowser have reached a tentative deal to build a new practice facility for the team and an arena for the Mystics. The $56.3M project would be on the east campus of the former St. Elizabeths hospital. The city plans to build and own the facility while team ownership will contribute $10M to the neighborhood, one of the poorest areas of DC. Plans call for a modern training center for the NBA club and a 5,000-seat arena for the Mystics. Events DC will contribute $32.5M to the project and manage the property. [WaPo]

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Washington, D.C. Newsletters
Related Stories

Suburban D.C. County Weighs Microhousing As Affordability Salve

Salesforce Plans Innovation Hub Downtown: The D.C. Deal Sheet

Master Plan Is Underway For Southwest D.C., Chief Federal Planner Says

BXP Execs See Better Returns In Building Offices Than Buying Them

The Las Vegas-Style Sphere Just Outside D.C. Is A Go

The 'Zombie' Building Mirage: How Owners Who Can't Transact Are Stirring The Market

Empty Pews On Prime Plots: As Congregations Shrink, Dutch Churches Land On The Property Market

Coffee Shop Signs Lease At Downtown Trophy: The D.C. Deal Sheet

Oliver Carr Jr.'s Firm Sells Alexandria Project To His Son's Company

Bill Barr's Law Firm Expands Footprint In Move To Pennsylvania Avenue

Amazon Ditches Ashburn Data Center Plan, Shifts To Mixed-Use Vision

Bowser Wants To Lock In A $550M Spa Before She Leaves. D.C. Council Members Are Pushing Back