National Real Estate Advisors Delivers 1M SF Mixed-Use Development at The Stacks in Washington, D.C.'s Buzzard Point
National Real Estate Development, in partnership with Akridge and Blue Coast Capital, has delivered Phase I of The Stacks, a 1-million-square-foot mixed-use waterfront development in Washington, D.C.'s Buzzard Point neighborhood. The project includes capital support from National Real Estate Advisors and Bridge Investment Group, and represents what the development team describes as the largest privately funded real estate development in Washington, D.C. at the time of construction.
Located at the confluence of the Anacostia and Potomac Rivers, The Stacks was developed on a former industrial site. Phase I, delivered in early 2025, includes three residential towers totaling 1,100 units, along with retail, coworking, wellness facilities, and publicly accessible open space.
Setting the Vision for a Waterfront Neighborhood
National Real Estate Development and its partners first acquired the site in 2005. The parcel — described as nearly 10 acres — was an unusually large land holding in the District.
"National purchased the site back in 2005 with partners Akridge and Blue Coast Capital," said Katie Hartley, Managing Director at National Real Estate Development. "At the time, it was an incredible opportunity — nearly 10 acres in Washington, D.C. — which is exceptionally rare. Over time, as the city evolved and the surrounding neighborhoods matured, our vision evolved with it."
The overall site spans 6.77 acres and was divided into two phases. Phase I occupies approximately 3.5 acres. A key early design decision was the introduction of a pedestrian-only corso — a curved walkway that bisects the development, creating distinct building parcels and encouraging public circulation through the site.
"That move did several things — it created multiple, distinct development parcels, angled buildings toward one another for better light and views, and established a comfortable, walkable ground plane that encourages people to move through and linger," Hartley said.
Each of the three towers carries a distinct architectural identity. The Byron, designed by Morris Adjmi Architects, draws on an industrial urban vocabulary. The Everly, designed by Gensler, takes a lighter, Scandinavian-influenced approach. The Colette, designed by Handel Architects, incorporates bold colors and eclectic detailing. Eric Colbert & Associates also contributed to the project's design.
Construction Complexity and Scale
The scale of the construction effort at The Stacks presented significant logistical and engineering challenges, according to Brian Dylus, Senior Director of Construction Management at National Real Estate Development.
"The scale alone was extraordinary," Dylus said. "At the time, this was the largest privately funded development in Washington, D.C. At peak construction, we were pouring concrete in all three towers simultaneously and employing roughly 950 men and women on site."
The site's position at the low point where the Anacostia and Potomac Rivers converge created substantial groundwater challenges. The construction team installed 13 deep water wells and pumped approximately 22 million gallons of water per month from the excavation zone, treating the water before returning it to the D.C. water system.
Phase I required the removal of nearly 19,000 truckloads of dirt. Infrastructure installations included two million linear feet of MC cable, 500,000 linear feet of conduit, more than 34,000 light fixtures, and 66,000 devices. The development also incorporates 384 solar panels capable of generating enough power annually to run more than 2,200 60-watt LED bulbs.
Clark Construction served as general contractor. Greystar and Akridge are managing the completed properties.
Amenity Programming and Public Space
Beyond the 1,100 residential units — which include a co-living component — Phase I incorporates retail space, coworking facilities, and an amenity program that includes multiple fitness centers, swimming pools, dog runs, fireplaces, grill stations, and a golf simulator. The pedestrian corso and surrounding public spaces are designed to draw foot traffic from adjacent neighborhoods.
"The Stacks really acts as a bridge — connecting Nats Park and the Navy Yard to The Wharf and the broader waterfront," Hartley said. "From the beginning, the goal was to create a place that didn't just serve residents, but also welcomed the surrounding community."
Landscape architecture was provided by West 8, Urban Matters, Lee and Associates Inc., Margie Ruddick Landscape, Oehme van Sweden, and ParkerRodriguez.
Project Context
Phase II of The Stacks, which would bring the total development to approximately 2 million square feet across the full 6.77-acre site, has not yet been delivered. The project's master developers are National Real Estate Development and Akridge.
For more information about The Stacks, visit thestacks.com.