Loudoun County’s Department of Economic Development secured the deal that will deliver a new stadium for D.C. United affiliate Loudoun United, and training fields and a headquarters for the main club, for a site near Leesburg Executive Airport.
And for that, the agency picked up a big CREW award.
The local chapter of Commercial Real Estate Women named the United arrangement its deal of the year. Under the agreement, Loudoun is providing the land for the facilities, on a 54-acre site at Philip A. Bolen Memorial Park, and $15 million for construction of the 5,000-seat stadium, four fields, offices, and training facilities. The team will make regular lease payments over 30 years to offset the debt incurred by the county.
The deal also allows Loudoun County to use the stadium parking lots as an additional park and ride, and to manage the paid parking during stadium events. Of the four new soccer fields under construction, two will serve D.C. United and Loudoun United exclusively and…Read the full story from the Washington Business Journal.