Monumental Sports & Entertainment has announced plans for The Vaults, a new set of luxury suites at Capital One Arena.
The arena, home to the NBA’s Washington Wizards and NHL’s Washington Capitals, is set to undergo a three-year, $800m (£617m/€741m) redevelopment project.
Earlier this week, MSE and Washington, D.C. Mayor Muriel Bowser announced the introduction of legislation supporting a public-private partnership for the project, which will keep the Wizards and Capitals in D.C. until 2050.
The first renderings of the new-look arena were released on Monday and MSE has now revealed details of The Vaults, which are set to provide a “one-of-a-kind” luxury suite experience for guests. The suites have been designed by global architecture and design firm Gensler.
The Vaults are the first of five brand-new suite types to be unveiled and will serve as Capital One Arena’s most exclusive seating option. They will include a set of experiential suites set apart from common areas and paired with the best lower-level tickets in the arena.
The creation of The Vaults marks the first step in Capital One Arena’s transformation process, which MSE said will offer the “pinnacle” of premium fan experiences. Each suite will be accessed by a private lobby with a dedicated elevator off the main concourse and will feature seating for up to 20 people.
The suites will include lounge-style seating areas with plush furniture and high-top seating at a private bar. Additional programming consists of an experiential tasting room, private toilets and other “high-end” amenities.
Construction is slated to begin next summer and be completed in time for the Wizards’ and Capitals’ 2025-26 seasons. MSE will soon commence conversations with existing suite holders and premium owners, with a sales and marketing plan to launch in December.
Jim Van Stone, president of business operations and chief commercial officer at MSE, said: “Unveiling The Vaults marks a momentous occasion for our organisation, as we take the first step to create a groundbreaking new space that transcends traditional luxury at Capital One Arena.
“This remarkable project not only redefines the premium fan experience in the D.C. area but will be among the highest echelon of premier seating within the entire sports and entertainment industry.”
The wider renovation of Capital One Arena will include bigger concourses, enhanced premium offerings, and expanded entrances to ease the flow of guests arriving at the venue.
MSE had been considering building a new entertainment district in Virginia, which would have included a new arena for the Wizards and Capitals. These plans were dropped in March, with MSE reaching an agreement with D.C. to carry out major renovation work at Capital One Arena instead.
The project is set to be completed in time for the 2027-28 season. D.C. has committed to financing of $515m towards the project, with MSE planning on contributing at least $285m.
Since taking over operation of Capital One Arena in 2011, MSE has spent over $200m on renovating the venue.
