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Top Family-Owned Real Estate Development Companies in Washington DC

Posted on Aug 9, 2016

Washington D.C is home to a good number of Real Estate development companies; some are public while some are family-owned like Frank L. Haney. It can, therefore, prove to be quite difficult to know the best company to select. Here are some of the top family-owned real estate development companies in Washington D.C one should consider when seeking the same.

The Lerners

The company was founded in 1952 by Ted Lerner. The starting capital was obtained from his wife. Since then, he has managed to grow the company into a real estate empire, and that has had him to become one of America’s richest. The company is run by Ted Lerner and his family members including some in-laws. They have handled several notable projects such as Chelsea Piers in New York, and a huge section of the Tysons Corner. They also partnered with Tower Companies in the construction of White Flint Mall and the Washington Square.

Petersons Co

The company was established in the year 1970. It is currently headed by Milt Person who is the CEO and the chairperson. The company has been in charge of a number of massive projects like the Fair Lake developments located in Silver Spring, the National Harbor developments such as Gaylord Hotel, Conference Center, and MGM Resort Casino. Petersons Co offer fully integrated residential, commercial and retail real estate development services. Over the years it has been in existence, the company has leased and managed more than 30,000 residential units in the area.

Cafritz Co

This company has been behind the development of a number of properties in Washington DC. They include the 12 story buildings along K Street, renovation of the Social Security Administration, the Washington Harbor and 800 SF offices at Baltimore. The company was established back in the 1920s by Morris Cafritz and his wife and has been in the family since then. The famous ones are Calvin and Conrad, the children of Morris Cafritz. The company is most famously known for the construction of DC office buildings back in the 1960s.

Hitt Constructions

This company was founded way back in 1937 by Myrtle and Warren Hitt. It has, ever since, been dedicated to offering construction development services in the Washington DC area and other parts of the country. The construction firm that is based at Falls Church has established an admirable reputation, with their portfolio comprising of notable developments such as trophy office buildings, Arlington Mill Community Center, Verizon data center campus and the Time Warner’s Reston Offices.