Every major metropolitan area in the U.S. has seen a major increase in real estate growth in its past. Washington D.C. is no exception to that rule and, knowing a good portion of the people who populate the nation’s capital, the growth that this city has seen has been very impressive. Impressive in terms of the clientele that real estate developers need to impress in order to get their business, and impressive in terms of the staying power of some of the family owned development companies. While there are many businesses and developers who have helped shape this fine city, there are a few like Frank Haney which standout and are worthy of note.
One of the oldest, if not the oldest, real estate enterprises that helped shape Washington D.C. is the Donahoe Development Company. For 134 years this company has kept growing to the tune of approximately 100,000 employees serving five different branches of real estate enterprises. Under the Umbrella of Donahoe Development, these five different companies, which include hospitality services, construction, complete building services and residential real estate have been a major player in making the Washington D.C. landscape what it is today.
Carr Properties should also be noted here, even though they sold their real estate investment trust to the Blackstone group eleven years ago. The price tag of 6 billion dollars for the acquisition should speak volumes as to what they accomplished mainly with commercial real estate development since 1885 when they first got started. They have made numerous and notable international deals over the years, they still go by Carr Properties in most business circles and they are still adding their footprint to the city and the surrounding suburbs.
One of the most impressive stories of real estate growth in this area, however belongs to Lerner Enterprises. Starting a mere 65 years ago with a 250 dollar loan, Lerner has grown to a multi-billion dollar enterprise in one of the most competitive real estate markets in the country, if not the world. Specializing in major retail and business development projects, their success can be attributed to hard work and a keen eye for prime real estate opportunities. This hard work is exemplified by the fact that over this short span of time, along with their numerous commercial dealings, they have acquired thousands of residential real estate locations. And let’s not forget their acquisition of the Washington Nationals baseball team that adds a whole new layer to their portfolio of success.