WASHINGTON (CBSDC) — The plan to build a new stadium for DC United at Buzzard Point was announced last week but is far from a done deal.
The necessary land swaps to build the proposed $300 million soccer-only stadium are not complete yet, and there’s also no final agreement on revenue-sharing between the team and the District.
But D.C. Mayor Vincent Gray says those missing pieces of the puzzle are being worked out.
One developer, Akridge, is already set to swap its parcels and Gray says discussions continue with two more property owners.
“We’ll continue negotiating with Pepco, which is a principle owner of one of the sites there, and also Marc Ein, who owns a land parcel there as well,” Gray says. “We are in discussions with all of them. We have not finalized anything but we certainly hope to do so within the next few months.
“We would like to be able to say that we have all the property assembled for this by Jan. 1.”
If and when the stadium does get built the current agreement offers an ambiguously worded section about what happens to “excess” revenues. Gray says if United turns a profit, the District would be entitled to some it — but it’s not clear how much.
“If prosperity comes, the United will benefit from it as well as the taxpayers of the city,” Gray says.
Despite the hurdles that need to be cleared, Gray is hopeful and excited for the stadium’s plan.
“This agreement will enable the construction of a world-class soccer stadium at Buzzard Point in Southwest Washington,” Gray says. “It is not an exaggeration to say this is a very big deal and a very good deal not only for DC United and its many fans, but for the District as a whole.”
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