The new D.C. United Stadium is going to be big — and by "big," we mean in size, costs, jobs, and, of course, criticism. According to a 406-page public report, the United Stadium will cost an estimated $286.7 million. The District will pay 46 percent of the bill, an estimated $131.1 million, but the price is likely to change to maybe even beyond $150 million. To help pay for the costs, the District will exchange land and infrastructure, including the Reeves Center at 14th and U streets and a site at First and K streets. The new stadium could bring $109.4 million in benefits over a 32-year period and about 1,683 full-time or equivalent jobs. This one big development could become the catalyst for many more developments in Buzzard Point or it could become D.C.'s next biggest money pit.
Since its proposal, the stadium has been criticized by residents, elected officials, and watchdog groups. Complaints have focused on a lack of maximizing the value of complicated land swaps and whether or not there will be enough parking for the large crowds the 20,000-seat stadium will bring. The properties that are being traded for money are undervalued by $11.2 million, while the overhaul of properties on Buzzard Point are overvalued, causing the net difference for the District to be $25.7 million. The amount of time it took for the report to be released to the public has also been criticized and described as "shady" and "long overdue" with Council Chairman Phil Mendelson opting to push the public release of the report to the day after the midterm elections. A hearing on the results of the report is scheduled for Wednesday at noon.
· Report: D.C. Overpays by More Than $25 Million in Stadium Deal [Washington City Paper]
· Report: DC United Stadium Expected to Be Most Expensive in MLS History [Washingtonian]
· Washington D.C. Politicians Being Shady As Shit About New Soccer Stadium [Deadspin]
· Cost-Benefit Analysis of the Soccer Stadium Development Act of 2014 [Scribd]
· Stadium Watch [Curbed DC]