Akridge and National Real Estate Development (National Development) have begun construction of the first phase of development at The Stacks, a rental apartment project that is located at Buzzard Point, Capitol Riverfront, in Washington, DC.
This project is jointly owned by Akridge, Bridge Investment Group (Bridge), Blue Coast Capital (BCC), and institutional funds managed by National Real Estate Advisors (National).
Funded by construction lender Bank OZK, this project is expected to be completed in 2025 and will feature three rental residential mixed-use towers, with a total of over 1,100 rental apartment units.
This project will also feature approximately 35,000ft² of retail space.
The developers have retained Clark Construction Group as the general contractor for the project.
Clark vice-president Molly Raglani said: “Clark is grateful for the opportunity to deepen our history of partnership with Akridge and National Real Estate Development to bring this world-class, multi-use development to life.
“As a Washington, DC builder for the past 117 years, we’re excited to help our partners continue the transformation of Buzzard Point into a destination for the community to enjoy.”
The design of this project has taken its inspiration from the historic neighbourhoods and walkable communities of Washington, DC, as well as cities around the globe.
The development team has enlisted Gensler, Morris Adjmi Architects, Handel Architects, Eric Colbert & Associates, West 8, and Lee and Associates for the first phase of the project.
These firms collaborated with the project team and additional architects, including HOK, DXA, and Hickok Cole, to develop foundational design guidelines for The Stack.
These design standards will serve as a guide to set up a unique feel throughout the community in terms of architectural features, detail, materiality, and proportion.
Akridge president Matt Klein said: “The Capitol Riverfront is an international model of mixed-use, waterfront development, and Buzzard Point is one of the final sections to be developed on this side of the Anacostia River.
“We purposefully selected different architects to provide unique perspectives for each element and they have carefully designed the buildings to feel like a neighbourhood built over time. The project has a unique design that focuses on bringing residents and visitors together in public spaces and it will be an outstanding place for gathering, living, working, and playing.”
An important aspect of the development will be a pedestrian-only path, dubbed ‘The Corso’, which will run through the centre of the project to guide people from the stadium to the waterfront.
Running north to south, this path will curve gently through the project’s length and also serve as a link to connect retail, community, and residential spaces with public plazas.
This project will have park and outdoor community spaces intended to encourage residents to socialise.
The facade of the buildings will feature architectural elements to lend ‘welcoming, visual richness’.
National Real Estate Development president Daniel Killinger said: “We are excited to break ground on phase one of The Stacks; it’s the first of many exciting milestones for this community.
“Having worked on similar projects in various markets, we have seen firsthand the vibrancy that neighbourhoods of this calibre can produce and we look forward to embracing sustainability, connectivity, and community here in Buzzard Point.”
The project’s commitment to sustainability and green design begins with the parking garage and extends through to the buildings’ rooftops.
Making use of an underground loading dock and parking garage, on-grade stormwater retention and greenspace will be maximised, thereby enabling the reclamation of more than 14,000ft³ of stormwater on-site.
As the project is designed to an LEED Gold standard, its facades, units, and amenity spaces are planned for energy efficiency and performance standards.
Solar panels will be installed on the roof of the southernmost building to leverage direct southerly sun exposure.