Brookfield To Break Ground On 467 Units At The Yards With New Multifamily Concept
The next multifamily building at Southeast D.C. megaproject The Yards is set to break ground in less than three months, and the developer has brought a new multifamily concept to the market to operate the building.
Brookfield Properties is partnering with Urby, a multifamily operator that has four locations in and around New York City, to manage a 467-unit building at The Yards, the developer announced Tuesday. It said it plans to begin construction on the building in May and deliver it in November 2024.
Urby, founded in 2016 by Ironstate Development Co. principal David Barry, has locations in Staten Island, Jersey City, Harrison, New Jersey, and Stamford, Connecticut. It has additional locations planned in Journal Square and Newark, New Jersey, as well as Dallas, according to its website. The company is a joint venture between Barry and Brookfield, the announcement said.
The announcement described Urby as a "hospitality-focused, residential real estate innovator," known for its design, amenities and social spaces. The building's amenities will include a 4K SF gym, a rooftop pool, a coworking space, a dog run, gardens and farm plots for residents.
The building will also have a café and courtyard that will be accessible to the public and 20K SF of retail that Brookfield will lease and operate.
The units in the building will range from studios to three-bedrooms, with 20% of them set aside as affordable. The building, designed by Amsterdam-based architecture firm Concrete, will feature solar panels and is intended to achieve LEED Gold certification.
The project will be built on The Yards' Parcel H, located at the intersection of First and N streets SE, one block east of Nationals Park in the Capitol Riverfront neighborhood.
“Urby and its community-centric design align perfectly with Brookfield’s goals and priorities of making The Yards D.C.’s most desired neighborhood for living, shopping, dining and working," Brookfield Senior Vice President of Development Toby Millman said in a release.
The project is part of The Yards' massive second phase, which kicked off in February 2020 with the groundbreaking of a 300K SF office building anchored by Chemonics. The 18-acre second phase is planned to include 1,200 residential units, 1.5M SF of office and 150K SF of retail. The first phase included five multifamily buildings, a hotel and a host of restaurants and retailers around the 5-acre Yards Park.
The Yards is a redevelopment of 48 acres that were once part of the Washington Navy Yard, which the federal government granted to Forest City Washington. Brookfield took over the project when it bought Forest City Realty Trust in 2018.