News

Stadium Scorecard: The Math Behind a New DC United Stadium

DC mayor Vincent Gray’s plan to fund half of a new $300-million venue for DC United doesn’t add up. Here’s the math.

$150 million:

Cost of buying and prepping the land, including a swap for the Reeves Municipal Center to developer Akridge.

+

$20 million:

The difference between Mayor Grays valuation fo the Reeves building ($56 million) and CFO Jefferey DeWitt’s ($76 million).

+

$40 million:

Tax breaks for DC United.

+

$20 million:

Cost of relocating DCs traffic-light system from the Reeves Center.

=

$230 million:

The true cost of the stadium for DC.

This article appears in the July 2014 of Washingtonian.

Get Washingtonian’s Daily DC Updates (Not Just Another Political News Roundup)