Akridge, National Real Estate Development Break Ground on Stacks Residential Project in D.C.
WASHINGTON, D.C. — Akridge and National Real Estate Development have broken ground on Phase I of The Stacks, a residential development in Washington, D.C.’s Buzzard Point neighborhood. Situated along the Anacostia River in the city’s Capitol Riverfront district, The Stacks will comprise three towers featuring 1,100 apartments and 35,000 square feet of ground-floor retail space. More than 10 percent of the apartments will be income-restricted. Bank OZK provided construction financing for Phase I, which is slated to deliver in 2025. The developers tapped general contractor Clark Construction Group to build Phase I and engaged Gensler, Morris Adjmi Architects, Handel Architects, Eric Colbert & Associates, West 8, Lee & Associates, DXA, HOK and Hickok Cole for the project’s overall design. The Stacks is jointly owned by Akridge, Bridge Investment Group, Blue Coast Capital and institutional funds managed by National Real Estate Advisors, parent company of National Real Estate Development.