Phase I of a mixed-use housing development dubbed The Stacks broke ground recently in Capitol Riverfront, Washington. This transformative project will be developed at Buzzard Point’s waterfront with a unique design, aimed at getting residents and visitors to mingle in public and shared spaces. The project is expected to be completed by 2025 and Clark Construction Group will serve as the general contractor.
The developers, Akridge and National Real Estate Development (National Development) are set to begin construction on The Stacks, which involves the development of three mixed-use residential buildings, providing up to 10% of affordable housing units and spaces for a retail component, spanning across 35,000 square feet.
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The Akridge President, Matthew Klein mentioned that several different architects were intentionally chosen for The Stacks project, in order to gain unique perspectives on each element of the project. He said the buildings were carefully designed to give the impression of a neighborhood, which had been built over time.
The foundational design guidelines for The Stacks were created through the collaborative efforts of the development team and several architects which include Morris Adjmi Architects, Gensler, Eric Colbert & Associates, Lee and Associates, West 8, DXA, HOK, and Hickok Cole.
Design plans for the The Stacks housing project
Green designs were incorporated into all aspects of The Stacks project, starting with the underground parking garage, extending all the way through the buildings to the rooftops. The project makes use of storm water retention, allowing for over 14,000 CF of storm water recovery at the site. All units, facades and shared spaces were planned using strict energy efficiency standards, and designed to match up to the LEED Gold standards.
The design plans for The Stacks also include a pedestrian-only road, as a key component of the development, which will cut across the heart of the project and serve in guiding visitors from the stadium to the waterfront. The pedestrian path, dubbed The Corso, will run through the entire expanse of the project from the northern part to the south, connecting the various retail, public plazas, and residential spaces. Residents and guests will also have access to a sizable park and open, outdoor community spaces to socialize.
Reported earlier April 2022
Construction of The Stacks in Washington DC Begins
Construction on the first phase of The Stacks in Washington DC has begun under a joint venture between Akridge, National Real Estate Advisors, Blue Coast Capital and Bridge Investment Group after Bank OZK approved a $367 million construction credit for the 2 million-square-foot mixed-use project. Cushman & Wakefield‘s William Collins, Bindi Shah, Marshall Scallan, and Shaun Weinberg negotiated the financing.
The Stacks’ initial phase, whose construction schedule has not been announced, will consist of three rental residential buildings with a total of more than 1,100 units. When completed, the master-planned complex will include 2,000 residential units, two hotels, public parks and gathering places, and about 80,000 square feet of retail space.
A range of unique working areas, as well as below-grade parking and loading, will be available at the property.
The Stacks in Washington DC project team
The first phase of the Stacks in Washington DC project was designed by Gensler, Morris Adjmi Architects, Eric Colbert & Associates, Handel Architects, West 8, and Lee and Associates Inc. Cushman & Wakefield managing director Shaun Weinberg headed a team that assisted in the formation of the joint venture partnership. William Collins, Bindi Shah, and Marshall Scallan of the business worked with Weinberg to arrange construction funding.
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“Akridge, National Real Estate Advisors, Bridge, and Blue Coast Capital form the ideal team to execute a successful project in the expanding Buzzard Point submarket, and market circumstances are ideal for the delivery of this iconic asset. This project will eventually become one of the top residential properties in the D.C. area,” commented David Sarner, executive vice president of originations at Bank OZK.
“The Stacks’ walkable, community-centric architecture will elevate Buzzard Point’s distinct and growing character to new heights. We are excited to start this project with our new and old partners, and we are convinced it will be a genuine anchor to the Buzzard Point neighborhood,” said Adam Gooch, senior vice president at Akridge, in a prepared statement.
