Six months since a deal was struck to keep the Capitals and Wizards in D.C., the modernization of Capital One Arena is now set to advance, with the city purchasing the venue and funding upgrades. Why it matters: The renovation will keep the teams in the District through at least 2050 and inject hope into downtown Washington as it continues to recover from the pandemic.

D.C.’s proposed plan to buy and help fund renovations at Capital One Arena could help revitalize the surrounding Chinatown and Gallery Place neighborhoods, according to a professor of finance at the University of Maryland.

Capital One Arena will be transformed soon, but one thing is staying: The streateries on 6th Street. Why it matters: Getting rid of the streateries was on Ted Leonsis' wishlist, with the Monumental Sports & Entertainment CEO fretting that they made it harder for semitrucks to load during events at the venue.