It is located at a theatre complex called the Mead Center for American Theater since its opening in 2010 after extensive renovation; this included construction of a third small theater in a complex with two stages: one a theatre in the round and the other a proscenium style. The Artistic Director is Molly Smith and the Executive Director is Edgar Dobie. It is the largest company in the country dedicated to American plays and playwrights. 
It commissions and develops new plays through the American Voices New Play Institute. Established in 1950, the company now serves an annual audience of more than 300,000.  Its productions have received numerous local and national awards, including the Tony Award for best regional theater.
The theatre company was founded in Washington, D.C., in 1950. Its first home was the Hippodrome Theatre, a former movie house. In 1956, the company moved into the gymnasium of the old Heurich Brewery in Foggy Bottom; the theater was nicknamed "The Old Vat." The brewery was demolished in 1961 to make way for the Theodore Roosevelt Bridge and the Kennedy Center.
In 1960, the company moved into its current building complex, which was built for them. The theater company's home is near the Washington, D.C., waterfront on the Potomac River, at 1101 Sixth Street SW.
One of the founders, Zelda Fichandler, was its artistic director from its founding through the 1990/91 season. Douglas C. Wager succeeded her for the 1991/92 through 1997/98 seasons. The current artistic director, Molly Smith, assumed those duties beginning with the 1998/99 season. 
Arena Stage was one of the first not-for-profit theaters in the United States and was a pioneer of the Regional Theater Movement. Arena was the first regional theater to transfer a production to Broadway; its The Great White Hope, which opened at Arena Stage in 1967, went on to Broadway with its original cast, including James Earl Jones and Jane Alexander in the lead roles. In 1973, it was the first regional theater invited by the U.S. State Department to tour behind the Iron Curtain. In 1976, Arena Stage became the second theater outside New York to receive a special Tony Award for theatrical excellence. (The first went to Robert Porterfield of the Barter Theatre in 1948.) 
A major renovation of the facility was undertaken from 2008 through 2010. The architect was Bing Thom Architects of Vancouver, British Columbia, Canada who contracted Fast + Epp consulting engineers to design the main columns for the building.  The Fichandler Stage and Kreeger Theater were largely untouched, but the theaters' connecting structures were demolished, including lobbies and offices. The two stages are now surrounded by a glass curtain wall and incorporated into a larger building.
A third, new small theater was added in the renovation, called "The Kogod Cradle," for new and developing productions. This new space seats 200. The new building includes an expansive central lobby and the Catwalk Cafe.  
The entire $135 million complex has been renamed "Arena Stage at the Mead Center for American Theater" in honor of supporters Gilbert and Jaylee Mead. Arena Stage re-opened for the season in October 2010; the capacity of its three theatres follows:
- The Fichandler Stage, a theater in the round, seating 680.
- The Kreeger Theater, a modified thrust stage theater, seating 514.
- The Kogod Cradle, seating 200.
The three theaters are connected by a large central lobby, and the Center includes a restaurant, rehearsal rooms, classrooms, production shops, and offices. For the first time in the company's history, all staff and operations are under one unifying roof.   The three-stage theater complex is now the second-largest performing arts center in Washington, DC, after the Kennedy Center for the Performing Arts. 
Current season's productions
- 2016-2017 Season 
- Born For This: The BeBe Winans Story, book by Charles Randolph-Wright & BeBe Winans, music and lyrics by BeBe Winans, directed by Charles Randolph-Wright. July 1 - August 28, 2016.
- The Little Foxes, by Lillian Hellman, directed by Kyle Donnelly. September 23- October 30, 2016, part of the Lillian Hellman Festival.
- The Year of Magical Thinking, by Joan Didion, directed by Gaye Taylor Upchurch. October 7 - November 20, 2016.
- Carousel, book and lyrics by Oscar Hammerstein II music by Richard Rodgers, directed by Molly Smith. October 28 - December 24, 2016.
- Lookingglass Theatre Company's Moby Dick, adapted & directed by David Caitlin from the book by Herman Melville, a co-production with Alliance Theater and South Coast Repertory. November 18 - December 24, 2016.
- Roe, by Lisa Loomer, directed by Bill Rauch, a world-premiere co-production with Oregon Shakespeare Festival and Berkeley Repertory Theatre. January 12- February 19, 2017.
- Watch on the Rhine, by Lillian Hellman, directed by Jackie Maxwell. February 3 - March 5, 2017, part of the Lillian Hellman Festival.
- Intelligence, by Jacqueline E. Lawton, directed by Daniella Topol. February 24 - April 2, 2017.
- A Raisin in the Sun, by Lorraine Hansberry, directed by Tazewell Thompson. March 31 - April 30, 2017.
- Smart People, by Lydia R. Diamond, directed by Seema Sueko. April 14- May 21, 2017.
- 2017-2018 Season 
- The Originalist, by John Strand, directed by Molly Smith. July 7–30, 2017.
- Native Gardens, by Karen Zacarías, directed by Blake Robison, a co-production with Guthrie Theater. September 15- October 22, 2017.
- The Price, by Arthur Miller, directed by Seema Sueko. October 6 - November 5, 2017.
- The Pajama Game, book by George Abbott and Richard Bissell, music and lyrics by Richard Adler and Jerry Ross, directed by Alan Paul. October 27 - December 24, 2017.
- Nina Simone: Four Women, by Christina Ham, directed by Timothy Douglas. November 10 - December 24, 2017.
- Sovereignty, by Mary Kathryn Nagle, directed by Molly Smith. January 12- February 18, 2018.
- The Great Society, by Robert Schenkkan, directed by Kyle Donnelly. February 2 - March 11, 2018.
- Hold These Truths, by Jeanne Sakata, directed by Jessica Kubzansky. February 23 - April 8, 2018.
- Two Trains Running, by August Wilson, directed by Juliette Carrillo, a co-production with Seattle Repertory Theatre. March 30- April 29, 2018.
- Snow Child, based on the novel by Eowyn Ivey, book by John Strand, music by Bob Banghart and Georgia Stitt, lyrics by Georgia Stitt, directed by Molly Smith, a world-premiere co-production with Perseverance Theatre. April 13- May 20, 2018.