Peebles Corporation

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Peebles Corporation is a privately held real estate investment and development company. The company was founded by R. Donahue Peebles in 1983 specializing in residential, hospitality, retail, and mixed-use commercial properties.

Developments[]

Select developments include 2100 Martin Luther King, Jr. in Washington, D.C. and Courtyard by Marriott Hotel and Convention Center in D.C.^{[citation needed]}.

108 Leonard - New York, New York

In 2013, Peebles and El-Ad Group acquired 346 Broadway (also known as 108 Leonard and the Former New York Life Insurance Company Building) for $160 million, the largest disposition ever undertaken by the New York City Economic Development Corporation. Development plans for the Renaissance Revival landmark and former New York Life Insurance Building include luxury condominiums.^[1] As the project struggled to sell condo units, Peebles and El-Ad filed lawsuits against each other, with Peebles suing to have El-Ad buy out his stake in the troubled project.^[2] As of February 2021, there were dozens of unsold units listed for sale.^{[3][failed verification][undue weight? – discuss]}

5th & I - Washington, D.C.

In 2019, Peebles was unable to complete a project awarded by RFP in Washington D.C. at 5th and I.^[4] In 2014, Peebles was selected to redevelop Fifth and Eye, a parcel in Washington, D.C.'s burgeoning Mount Vernon Triangle neighborhood, into a nearly 250,000-square-foot project to include a boutique hotel and branded residences.^[5] Peebles and the Mayor of Washington D.C. sparred publicly over the project and Peebles attempt to move the affordable housing component to a less desirable part of town on a parking lot owned by Peebles.^[6] Peebles was sued by his partner, Walker Group, after the project collapsed.^[7] Peebles project was plagued by financing shortfalls.^[8] The Fifth and I project was called a "debacle" by Washington D.C. press.^[9] This lawsuit by Washington D.C. was unrelated to the District's 2010 lawsuit against Peebles.^{[10][undue weight? – discuss]}

Massachusetts Back Bay, Boston, Mass.

In 2015, the Massachusetts Bay Transportation Authority and Massachusetts Department of Transportation chose Peebles for the development of an intersection in Boston's historic Back Bay neighborhood. Plans for the proposed $330 million, 390,000-square-foot project include a hotel, condominiums, rental apartments, retail, and a Hynes MBTA station.^[11] As of February 2021, the "long delayed" project had not been approved and Peebles cited the need for more funding and more air rights to allow the project to continue.^[12]

Family Court Building - Philadelphia, PA

Peebles was anticipating developing Family Court Building, however, the city of Philadelphia cancelled the contract due to Peebles inability to begin construction after years of delays and millions of dollars in government grants.^[13] The project would have renovated the historic neo-classical former courthouse on 1801 Vine Street in Philadelphia's Logan Circle, into a boutique hotel.^[14]

Bath Club - Miami, FL

The company’s Miami and Miami Beach projects include a 900,000-square-foot mixed-use project in Downtown Miami and The Bath Club Estates.^[15] In February 2021, a Miami-dad County Judge sanctioned Peebles in the amount of $1 million. The Judge found Peebles liable for failing to keep the Bath Club in first class condition, requiring $1,000 per day restitution for a period spanning nearly three years. ^[16]

Brooklyn Village - Charlotte, NC

In 2016, Charlotte's Mecklenburg County selected Peebles and Conformity Corporation for the development of Brooklyn Village, a development site consisting of 16 acres located in the neighborhood within Uptown Charlotte, NC. The proposed project is planned to be a 2.3 million square foot "urban village", and will be constructed over multiple phases.^[17][18]

Angel's Landing - Los Angeles, CA

In December 2017, Peebles, as part of the three-team development partnership Angels Landing Partners, was unanimously approved to redevelop the Bunker Hill site in Downtown Los Angeles, dubbed Angels Landing.^[19] The estimated $1.2 billion development will include residential, hotel, retail, and communal spaces distributed over two towers.^[20] The main tower, when constructed, would reach at least 80 stories and would be divided into three parts: hotel, apartments, and condominiums. A 192-room SLS hotel with its own swimming pool would be below 425 apartments (including some subsidized affordable units), on top of which would be 250 condominiums and another swimming pool.^[20] The second tower would reach 27 stories and would contain a charter elementary school and a 289-room Mondrian hotel that offers a rooftop pool and bar.^[20] Project completion is estimated to be around late 2024.^[20]

Peebles Real Estate Fund[]

In 2018, Peebles announced his corporation was starting a $500,000,000 real estate fund for women and minority developers. In July 2020, he announced that the fund would begin investing in women- and minority-owned projects by the end of the year.^[21][22]

References[]

External links[]

• Official website