ENR’s editors selected Douglas Development Corp. as this year’s MidAtlantic Owner of the Year.
Owners of the Year are chosen for their innovation and creativity throughout the region as well as their contributions to their community. The last three MidAtlantic winners include PennDOT, DC Public Schools and DC Water.
Douglas—a longstanding District of Columbia-based real estate developer that also works in suburban Virginia and Maryland—is known for revitalizing underdeveloped neighborhoods. Founder and president Douglas Jemal started the firm in 1985. Today, the fully integrated real estate company has 100 employees. The firm has experience in acquisition selection, finance, entitlement, development, leasing and management.
Mostly known for restoring and preserving mixed-use and retail buildings, Douglas’ projects are primarily historic preservations, including the nearly complete Uline Arena in D.C. The arena was the site of the Beatle’s first U.S. concert and President Eisenhower’s first inaugural ball. But the structure was abandoned for years and fell into disrepair. Now it is the flagship store for outdoor-gear retailer REI and will also include 245,000-sq-ft of multilevel office and retail space.
Douglas is also currently developing 655 New York Ave. The $300-million project is on ENR MidAtlantic’s preliminary Top Starts list (the full list will be published in the April print issue). The project incorporates 19 historic buildings that will be entirely rebuilt and five historic facades.
Some of Douglas' completed projects include the historic 7th Row of Chinatown, The Woodies Building, The Atlantic Building at 950 F Street, Historic Row at 800 F Street featuring the International Spy Museum, 1155 F Street, 509 7th Street, The Ventana at 912 F Street and 901 7th Street.
We’ll have more information about the firm’s development efforts and recent achievements in the April edition of ENR MidAtlantic.