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Brief of diving:
- NFL Washington commanders have reached a $ 4 billion agreement with DC government Return to Robert F. Kennedy Memorial Stadium CampusThe franchise announced on April 28.
- Commanders will move from Northwest of Landover Stadium Maryland, and will drive investment of at least $ 2.7 billion to build a new ceiling stage that can be used throughout the year, along with related improvements, according to the statement. The franchise claims that it marks the largest private investment in the history of the city.
- Officials expect the new stadium to open by 2030, according to the launch. The current lease of the commanders in the north -west of the stadium passes to 2027, According to Associated PressAnd the team hopes to break the project next year.
Divide vision:
The stadium of approximately 65,000 places, which is expected to open by 2030, will occupy only 11% of the site, according to the launch. As the stadium will have a roof, it will be able to host events throughout the year.
Commanders played at the RFK stadium from 1961 to 1996, a period of time that advanced to five Super Bowls and three NFL titles. The old stadium is currently being demolished, According to DC events.
The city will also launch money. Washington will present a revenue deposit of $ 175 million, which will be funded by the stadium activity after the installation has been built, according to the launch. It will also invest $ 202 million in public service infrastructure, roads and a traffic in the Washington Metropolitan Area.
In addition, DC events, district convention and sports authority will contribute up to $ 181 million for parking garages near community recreation facilities, which events will have DC, for a total investment of $ 4 billion.
The stage will not be the only development. Commanders will be responsible for activating and developing multiple land plots around the stadium with restaurants, entertainment places, hotels, homes and green spaces, according to launch. Beside commercial development, it is expected that the entire campus will create approximately 5,000 to 6,000 housing units, including at least 30% of affordable homes.
Economic environment
The agreement occurs during a faint economic environment as a fall in Trump Administration’s rates causes trouble for builders. Brian Gallagher, Vice President of Corporate Development of Oakbrook Terrace, the Illinois contractor, Graycor, said in a April 8 on-Ed Which, while projects that include data centers, life sciences, industrialists and manufacturing have higher profitability expectations, other people may also not leave.
“Office speculative projects, in detail and hospitality, but often work with narrower margins and less predictable demand,” Gallagher wrote. “These sectors are seeing more delays, cancellations or journeys towards renewal and replacement instead of new construction.”
In the sports world specifically, the prospects of the project go to a spectrum. Flintco and Mortenson, for example, were touched on Builds a new $ 900 million sand For the National Basketball Association Oklahoma City Thunder and a joint Gilbane/Turner company recently exceeded the 2.1 billion dollars new Highmark stadium In Orchard Park, New York, for Buffalo Bills.
Others have not been so lucky: Tampa Bay rays Was taken out of a $ 1.3 billion stadium agreement With the city of Saint Petersburg, Florida, on March 13, after a delay in votes to get the financing of the Commissioners of the County of Pinellas after the destruction charged by the Hurricane Milton.
