New JV, $367M Construction Loan Mark Start of Mixed-Use in DC’s Buzzard Point
Akridge, National Real Estate Advisors and Blue Coast Capital have formed a joint venture partnership with Bridge Investment Group for Phase One of The Stacks, a mixed-use development project in DC’s Buzzard Point district.
The JV has secured a $367-million construction loan from Bank OZK for Phase One of the development, which includes three rental residential mixed-use towers totaling more than 1,100 rental apartment units.
The Stacks — developed by Akridge and National Real Estate Development — will offer panoramic views overlooking the confluence of the Anacostia and Potomac Rivers. At full build-out, the two-million-square-foot master planned development will complete the waterfront neighborhood between The Wharf and The Yards and feature:
- Over 2,000 residential units
- Approximately 80,000 square feet of retail space
- Over 15,000 square feet of public park and gathering space on V Street
- Up to two hotels
- A variety of creative working and residential spaces
- Below-grade parking & loading
- ◦Development
