Only a few years before Washington, D.C., Mayor Muriel Bowser cut the grand opening ribbon for The Stacks earlier this month, its 7-acre site had been home to a 2 million-gallon storage tank supplying diesel fuel to a nearby power plant.
First proposed in 2005, The Stacks — developed by Washington-based Akridge and Philadelphia-based National Real Estate Development, in partnership with the District of Columbia — is the latest of many new developments in Washington’s Buzzard Point neighborhood, which has evolved from an industrial district to a sports destination. The property is located next to the Audi Field, home of the D.C. United Major League Soccer team, and a short walk from the Nationals Park Major League Baseball venue in nearby Navy Yard.
“I think The Stacks here is more than a collection of buildings,” said Adam Gooch, managing principal and chief development officer at Akridge, during the property’s grand opening event on June 18. “It's a new chapter for Buzzard Point. We always believed, even back in 2005, that this corner of the city could be something special, and now I believe that it is.”
The first phase of development at The Stacks consists of 1,100 apartment units across three buildings, including 100 affordable units and 362 coliving bedrooms arranged around a central courtyard, according to Gooch. The outer section of the property incorporates over 22,000 square feet of public green space and seating, including a 15,000-square-foot event lawn and al fresco dining space.
Each of the three buildings — Everly, The Byron and Colette — has a different unifying design aesthetic, according to Katie Hartley, managing director at National Real Estate Development. The townhome units across the lowest level of Everly form a row of brownstone brick facades and alcove windows that evoke the look of Washington, D.C.’s historic rowhouses, while the interior makes use of natural materials and clean design elements.
The Byron’s aesthetics are designed to be elegant, modern and geometric, inspired by luxury hotels, while Colette and the Colette Coliving spaces feature bold patterns and a variety of colors, according to the property website. Unit amenities vary between properties, but include smart keyless entryways, in-unit laundry, stainless steel appliances and balconies in select units.
The property features over 90,000 square feet of amenities across all three properties, and residents of any building can access shared spaces from any other part of The Stacks. This includes two rooftop pools, coworking and lounge areas, a game room, a pet spa, and indoor and outdoor terraces with fire pits and a multi-sport simulator.
A bridge lit with LED rainbow lights extends between the amenity decks at Everly and The Byron, creating a seamless connection within the property. The rooftop and select units offer views of the city, the surrounding Potomac and Anacostia rivers and a nearby marina.
The site also offers over 40,000 square feet of retail, plus a 10,000-square-foot Launch Workplaces coworking space and a 10,000-square-foot gym, according to the developer. Retail tenants will include a convenience market and over 600 parking spaces are available in an underground garage.
The project was financed with over 90% Opportunity Zone equity. More than 1.2 million square feet remain to be developed at The Stacks, comprising a future second phase.
“Audi Field, Nationals Ballpark, South Capitol Street Bridge, even this project that we're sitting in today, these are the types of smart public investments that our city needs to make to create good [housing],” Gooch said, “and make D.C. the vibrant community that it is.”
