The Peebles Corporation has accomplished a monumental and unduplicated feat. They are the largest Black owned real estate development and ownership company with a multi-billion development portfolio consisting of luxury hotels, high rise residential and commercial properties. Between their active and completed developments, they hold more than 10 million square feet and $8 billion in real estate in key metropolitan hubs such as New York, San Francisco, Philadelphia, Los Angeles, Washington D.C. Miami and Charlotte.
Roy Donahue “Don” Peebles is the Founder, Chairman and Chief Executive Officer of the firm. His investment philosophy stems beyond the development to include long-term benefits for the community in which they build. One strategic key to their success is their track record of Public-Private Partnerships. For instance, after completing the Courtyard by Marriott Convention Center in Washington, D.C., the company founded the Academy of Hospitality and Tourism (AOHT). The program’s goal is exposes and prepare minority youth to all aspects of the hospitality industry, from operations to ownership, building a pipeline for future career opportunities. The National Academy Foundation has adopted this program throughout its network. Nearly two decades later, AOHT has expanded to three separate high school academies as part of the Washington D.C. school district which has a student base that is 92% minority. A similar AOHT model will be part of Charlotte’s Brooklyn Village development.
Mr. Peebles is acutely aware of his earned place and privilege. The firm recently announced the launch of a $500 million investment fund for 60 deals that involve minority and women developers in cities where the firm operates, including New York, Los Angeles, Washington D.C., and Philadelphia. The fund will address the overwhelming nationwide crisis of affordable housing. There is an allocation for projects between $10-$70 million that offer solutions. The rest will focus on a variety of commercial and multifamily projects.
The capital connection also includes a mentorship component to aid emerging developers to grow more quickly with a decreased exposure to risk. According to Peebles, the big picture goal is, “to create this business model that shows that investing in emerging developers and investing in diversity will result in higher returns with less risk.”
Mr. Peebles’ openly shares his knowledge and advocates for his firms’ mission through public speaking, TV appearances and his top-selling books, “The Peebles Principles” and “The Peebles Path to Real Estate Wealth.”
For over 35 years, The Peebles Corporation‘s commitment to construction excellence, sustainability, historic preservation and design innovation have been their pillars of success. This sold foundation will surely continue its phenomenal growth to positively impact millions of people, numerous cities and their communities.
Renderings and Photographs ©The Peebles Corporation
Vine Street Phladephia | Angels Landing Los Angeles
The Royal Palm Miami | The Lincoln Miami Beach
Viola Back Bay Boston