New Capitals and Wizards Potomac Yard development would be a big win for JBG Smith

A rendering of the proposed arena. (Courtesy JBG Smith)

If it happens, JBG Smith will build it. Bethesda, Maryland-based developer JBG Smith, already the largest landlord in Arlington’s National Landing, is partnering with Monumental Sports & Entertainment to develop what would be a massive mixed-use development and home to the proposed new arena for the Washington Wizards and Washington Capitals at Potomac Yard.

JBG Smith owns much of the real estate at Potomac Yard, including a currently unoccupied 12-acre site between the Potomac Yard Metro entrance and the first phase of the Virginia Tech Innovation Camps. The land would be sold to a proposed Virginia Sports and Entertainment Authority.

JBG Smith would serve as the developer for the corporate Monumental Sports & Entertainment headquarters, the arena, a media studio, performing arts venue and esports facility.

Initial plans call for 9 million square feet of development, but JBG Smith said even then, another 8.1 million square feet of future development is possible.

JBG Smith is the developer of 55 acres surrounding the proposed Monumental project.

JBG Smith recently completed Amazon’s 2.1-million-square-foot headquarters. It currently has almost 1,600 apartments in various stages of construction, more than 800 of which will be delivered next year.

Its other recent projects include the 1.6 acre Water Park in Crystal City, with food vendors and restaurants. Virginia Tech’s $1 billion Innovation Campus, being developed by JBG Smith, is still under construction. About two-thirds of JBG’s properties are in the National Landing area of Northern Virginia.

Jeff Clabaugh

Jeff Clabaugh has spent 20 years covering the Washington region's economy and financial markets for WTOP as part of a partnership with the Washington Business Journal, and officially joined the WTOP newsroom staff in January 2016.

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