'Sphere' planned for Prince George's County could break ground in 2027
Plan for 'Sphere' in Prince George's County could break ground in 2027
Prince George's County is buzzing as leaders work to fast-track the sphere at the National Harbor. It comes on the heels of the announcement that the former Six Flags site was just bought by a group of investors, which includes basketball star Kevin Durant. FOX 5's Homa Bash has the latest details.
PRINCE GEORGE'S CO., Md. - Prince George's County is buzzing as leaders work to fast-track the ‘Sphere’ at National Harbor.
It comes on the heels of the announcement that the former Six Flags site was just bought by a group of investors, which includes basketball star Kevin Durant.
What they're saying:
Prince George’s County wants the Sphere here as quickly as possible. There's legislation both at the county level and state level to make that happen.
The hope is to break ground by early next year, but not everyone is sold on the Sphere just yet.
"I understand it's a great tourist attraction, but MGM has a lot of tourist attractions. Honestly, it seems like we're putting more effort to attract tourists, and it's not stimulating the economy the way i think the governor would like it to," said Maryland resident Yvonne Harris.
Dig deeper:
Here’s what’s going on at the Sphere so far.
The entertainment venue will be at National Harbor near the MGM casino – a smaller version of what we see in Vegas – about 6,000 seats.
Early estimates say it'll bring in about $2 million visitors a year and result in $63 million in annual tax revenue for the county. The total economic impact has been touted as $1.3 million.
Big picture view:
Meanwhile, there's already a team created to fast-track the zoning and permitting process.
p-g leaders are also submitting specifics to the council in a few weeks, and then sending TIF legislation to be approved by the end of the summer.
There is also legislation in Annapolis that changes the use of TIFs in the state of Maryland, and for this project in particular.
County Executive Aisha Braveboy told FOX 5 that she expects that to be approved by the general assembly in the coming days. So essentially, borrow money now, and hope the sphere generates enough revenue to cover the costs.
"While we give up some tax revenue early in the process, after three to four years, it's really generating solely income for us, and that's what this is all about," Braveboy said. "If we never did the TIF we would never get the project, never get the increase in revenue."
Big picture view:
National Harbor was built using a TIF too, and is now one of the highest-grossing areas in Prince George's County, bringing in about $80 million every year.
Again, they're hoping for groundbreaking by the first quarter of 2027, moving as fast as they can to get all approvals.