Top Family-Owned Real Estate Development Companies in Washington

Washington is experiencing a boom in redevelopment while real estate investors such as Franklin L. Haney are managing the fluctuating landscape. Maintainable and green technologies are the current standards for the construction industry in DC. Washington is the home to real estate developments, and the good thing is that every individual planning to develop must adapt to modern technologies to improve structures.

Washington DC is as well a home to bequest family developers in the real estate business. Some people championed some significant development booms such as World War 2. These people then passed the family companies to their family members from one generation to another. Below is a list of real estate development firms in Washington that are completely family-owned.

The Lerners

The development was founded in 1952 by an entrepreneur known as Ted Lerner. Ted acquired the resource to establish the company from his wife after getting a loan of 250 U.S. dollars. Theodore Lerner is among the wealthiest individuals in the United States having a net worth of 4.9 U.S. Billion Dollars as at March 2015.

The famous members of the family company include Ted who is the one founded the company, and for four years he collaborated with his brother Lawrence. Nevertheless, in the early 1980s the two parted ways. Some of the remarkable properties belonging to Lerner family comprise, Chelsea Piers located in New York and a massive part of Tysons Corner. They are similarly the proprietors of National and National Park. They have small shares in Capitals, Wizards, and Mystics. The family partnered with Tower Companies to build Washington Square located in DC and White Flint Mall.

The Cafritzes

Morris Cafritz established the development in the 1920s. Morris was an immigrant from Russia, and he is famously recognized for his philanthropic works. Together with his wife, they are founders and owners of Gwendolyn Cafritz Foundation.

The well-known family members of the firm are his two children; Calvin and Conrad. Calvin has served at the enterprise as chairperson as from 1989 and later as the Chief Executive Officer in 1993. The majority of development constructions in downtown along K Street and the central business district belongs to Cafritz family. In the 1960s, the firm gained its popularity by constructing offices.

The Donohoe
Donohoe is one of the oldest developments which was established in 1884 by John F. Donohoe. At first, John was selling apartments on Capitol Hill. Prominent properties of this firm fall under five categories under the business field and they include constriction, sociability, development real estate and facility management.