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The buzz is building in Buzzard Point.
After last year's opening of Audi Field, the soccer stadium for MLS club DC United, construction has been a constant in the Southwest D.C. neighborhood that sits between the Capitol Riverfront, home to Nationals Park and The Yards mixed-use development, and the Southwest Waterfront, home to The Wharf. Now, another developer is adding to the activity.
Toll Brothers, the publicly traded residential developer based in Pennsylvania, has acquired two properties in Buzzard Point and plans to build at least 400 apartments, 20K SF of retail and possibly a hotel and underground parking, the Washington Business Journal reports.
Toll Brothers has acquired the Capitol Building Supply property at the corner of Potomac Avenue and First Street SW, across the street from Audi Field and two blocks from Nationals Park. The purchase price of the land works out to more than $50M, according to the WBJ.
Even before Audi Field opened, Buzzard Point was seen as a logical future development hub, and most of the land on the peninsula — which separates the Washington Channel from the Anacostia River — has been under developer control for years. Douglas Development Corp., Akridge, Western Development, MRP Realty and Hoffman & Associates — some of the city's biggest local developers — all have developments in various stages of planning or construction in Buzzard Point, which is designated as a qualified opportunity zone.
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