Clark Construction, Akridge and National Real Estate Development have topped out the first of three residential towers at The Stacks, a 2.7 million-square-foot mixed-used development in Washington, D.C.,’s Buzzard Point neighborhood. At full buildout, the buildings will host 1,100 apartments.
This milestone marks the completion of the structural concrete on Building B. Since breaking ground in May 2022, crews have placed a combined 66,000 cubic yards of concrete to shape the three 14-story towers at Buzzard Point. The team’s next steps are to finish concrete operations on Buildings A and C, before completing the building envelope and interior work.
The project is jointly owned by Akridge, Bridge Investment Group, Blue Coast Capital and institutional funds managed by National Real Estate Advisors. Bank OZK provided a $367 million construction loan for the first phase of the project.
Project details
More than 10 percent of the residential units will be designated as affordable housing. In addition to the residential component, Phase One will include 35,000 square feet of retail, 300,000 square feet of below-grade parking and loading and a 15,000-square-foot public park. A key element of the property will be a pedestrian-only path running through the heart of the project, connecting visitors from nearby Audi Field to the Anacostia River waterfront.
Phase One is slated for completion in 2025. At full buildout, The Stacks will comprise 2,000 multifamily units, 80,000 square feet of retail, two hotels and some 250,000 square feet of office space. As part of the companies’ sustainability initiatives, the community was designed to LEED Gold standards, encompassing energy-efficient features such as solar panels and rainwater-retention installations.
The mega-project is expected to be a transformative addition to the Capitol Riverfront’s Buzzard Point neighborhood. The Stacks will comprise two city blocks at the intersection of V Street SW and First Street SW. Nearby Metro stations include Navy Yard, M Street entrance, and the Navy Yard, New Jersey Avenue entrance, both of which are less than 1 mile away. The Capital South entrance at 355 First St. SE is 1.4 miles from the development site.
The Stacks is 4 miles southeast of downtown Washington, D.C. Dining, retail and entertainment options along Eighth Street SW are within 2 miles of the property. The development will also serve as a connection between The Yards and The Wharf, two other large live-work-play destinations.
