Inside Capital One Arena’s $800M Renovation

Monumental Sports & Entertainment has begun construction on a $800 million-plus complete transformation of Capital One Arena in Washington, D.C., keeping the NHL Capitals and NBA Wizards in Downtown D.C. through at least 2050.

“For anyone who comes in the building today and for anyone who comes in the building in three years, it’s going to feel like a completely new Capital One Arena,” said Jordan Silberman, president of venues for Monumental Sports, the parent company of Capital One Arena and four other venues throughout the D.C. area. “With the city and Monumental’s investment, we are going to be putting $800 million into the building and while we are keeping some of the current building elements, it is going to look and feel like a brand-new building.”

Washington, D.C. Mayor Muriel Bowser and Monumental Sports founder and CEO Ted Leonsis arrived at a deal to keep the teams in place last year. In the agreement, which was unanimously approved by the D.C. Council, the city purchases Capital One Arena for $87.5 million and then leases it back to MSE as part of a $515 million commitment by the District to renovate the stadium. MSE agreed to contribute $285 million to the project and cover any cost overruns. MSE will make payments until 2050 and then have five four-year extension options that could keep the teams in D.C. until 2070.

In a study done by the city, the economic impact of the arena topped $1 billion, including the creation of 4,900 construction jobs and $21 million in new tax revenues during construction. Lease payments by Monumental will range from $1.5 million to $2.3 million per year and include a prorated initial payment.

THE CAPITAL IDEA
MSE is taking a 360-degree approach to reinventing the high-tech, high-touch facility over six phases of construction spanning three years and projected to be complete in time for the 2027-2028 NBA and NHL seasons.

“Ted (Leonsis) charged us to make it new,” Silberman said. “He wanted everything to look and feel like a completely different building, and that has been the guiding principle for our design team and construction partners as we go through this process – to totally transform, reimagine and rethink how the building looks, feels and operates.”

MSE has partnered with CAA ICON to serve as the overall project manager, Gensler on the design, and Clark Construction on the building construction.

Revitalizing the existing structure made sense for the project and environment by minimizing the environmental impact and preserving a cherished civic landmark, which opened in 1997.

“The bones of the building are staying the same,” explained Silberman. “This is actually the most sustainable thing we can do for our project with all the embodied carbon that we were able to save by doing this as a transformation rather than a ground-up build.”

The biggest change paving the way for the renovation will be moving roughly 350,000 square feet of office space and back-of-house operations to an adjacent property that will be connected to the event level for easy access. The freed-up space will be used to increase the size of the locker rooms for the Capitals and Wizards by 66% and add high-end hospitality areas around the event level next to the bowl.

“We are taking real estate that is more operations focused and turning it into athlete space and revenue-generating space,” Silberman said.

The Wizards’ space will feature a state-of-the-art design with personalized amenities, lounges and weight rooms. The team will have new recovery facilities, directly connected to the locker rooms, which will include hydrotherapy pools and massage areas to optimize recovery, improve performance and expedite the return of players to the court. Enhanced media and analytics integration will provide advanced video review and analytics systems, enabling in-depth game preparation.

The Capitals’ space will feature ergonomically designed lockers with integrated drying systems, personalized storage for gear, dressing areas, lounge spaces and new weight and functional training areas. Their recovery facilities will include dedicated cold tubs, hot tubs and compression therapy areas designed specifically for the recovery needs of hockey players. Equipment and triage optimization will provide on-site skate sharpening and repair stations for immediate and precise gear adjustments, ensuring players are always game-ready.

The construction schedule will take place in stages to ensure minimal disruption to fans and the leagues’ schedules. The arena will remain dark in the summers between the Wizards and Capitals seasons when the bulk of the work will be completed. Fans of the Capitals and Wizards will be able to access the most premium new spaces – The Vaults – as early as the 2025-26 season.

Each Vault suite will be accessed by a private lobby with a dedicated elevator off the main concourse and feature seating for up to 20, including lounge-style seating areas and high-top seating at the suite’s private bar. Other plans include an experiential tasting room, private restrooms and other amenities. Vault owners and their guests will have access to all events at Capital One Arena, including playoff games, concerts and special events.

With space for more than 800 patrons, the United Globe Club will be the most expansive of the new hospitality spaces at the transformed Capital One Arena. The club will feature exclusive space for guests across two levels and will provide access to dining as well as complimentary beer, wine and soft drinks for all Capitals and Wizards VIP seat holders. The United Globe Club will be 30% larger than any existing hospitality space at the current arena.

Exclusive to Wizards Courtside Row AAA seat holders and Capitals Row A seats on the glass, the United Globe Lounge will only be available to 150 guests per event, providing a spacious, premium hospitality experience.

The new design will enhance the experience for fans at every level from social decks with views of the arena floor on multiple levels, larger concourses, more dwell space with new food and beverage options, new seating options and enhanced technology throughout the venue.

The exterior will be transformed into an activated canvas with lighting, media displays and public art space. The building design and façade were inspired by the neighboring Donald W. Reynolds Center for American Art and Portraiture and the nearby Smithsonian Galleries reinforcing the arena’s role as a cultural landmark.

“Monuments are spaces for our community to convene and admire and celebrate greatness and a shared sense of togetherness,” Leonis said in December after receiving D.C. Council approval. “The new Capital One Arena will be an epic focal point for the community and a symbol for the resurgence of downtown. It will continue to be an economic driver and a source of pride and joy for the community.”