THE NHP Foundation 2023 Symposium

Great News! Legacy Chairman, Donahue Peebles III, has been invited to deliver a presentation at the highly esteemed NHP Foundation 2023 Symposium. This event focuses on the future of affordable housing through innovative approaches and will be held on October 19th at Union Station in Washington, DC. Donahue's presentation will shed light on groundbreaking strategies and forward-thinking solutions that can shape the future of affordable housing. His expertise and insights will provide valuable perspectives to fellow industry professionals, fostering discussions and inspiring innovative approaches in this crucial sector. In recognition of his exceptional contributions to affordable housing, Donahue will be honored with the prestigious Affordable Housing Trailblazer Award by the NHP Foundation at this event. This esteemed award highlights Donahue's dedication, vision, and commitment to making a positive impact in the realm of affordable housing. We are proud of Donahue's participation and the recognition he is receiving. His involvement in the NHP Foundation 2023 Symposium underscores our company's commitment to driving positive change and finding sustainable solutions to address the affordable housing challenge. Stay tuned for further updates and insights from this remarkable event as we continue to advocate for affordable housing and create a lasting impact in our communities.
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“Save the Barclay: A Beacon of Hope for Miami Beach” by Donahue Peebles III

Miami Beach has always been renowned for its vibrant culture, stunning beaches, and iconic Art Deco architecture. However, amid the allure of this bustling city lies a forgotten gem – The Barclay. Once a symbol of grandeur, this historic property has sadly fallen into disrepair, becoming a shadow of its former self; contributing to crime, vice and urban decay. It’s time for a change; my company, Legacy Real Estate Development, has proposed restoring the former landmark, driving revenue to the city and cleaning up the City.

The current state of The Barclay is an unfortunate reminder of urban decay. The once-thriving property has become an eyesore, contributing to blight in the heart of Miami Beach. We are offering a mixed-income, mixed-use development that will not only revitalize The Barclay but also serve as a catalyst for positive change in the community.

We focus on delivering workforce housing. This is a pressing need in Miami Beach, where skyrocketing housing costs have pushed many hardworking families to the brink of housing insecurity and where many of the City’s workers cannot afford to live. Depending on the option selected by the City Commission, our project will rent restrict up to 37 units. Despite opposition, the Barclay will provide an oasis of affordability in an otherwise costly landscape.

We understand the importance of historic preservation and ensuring that The Barclay’s rich past is respected and embraced. We are proposing small scale development, no FAR favors, no landscape of towers; instead, we favor wide setbacks, pedestrian scale and historic preservation. We will fight to have The Barclay placed on the National Registry of Historic Places, ensuring that it will remain preserved in perpetuity.

Our plan includes restoring the property’s exterior to its original splendor, ensuring that it remains a contributing building in Miami Beach’s renowned Historic District. This restoration will not only honor the city’s architectural heritage but also inject a renewed sense of pride into the community.

My company, Legacy, has partnered with Urban American a large-scale multi-family developer. Our proposal is more than just a plan on paper – it is a commitment to making Miami Beach a better place for all its residents. With our extensive track record of successful projects across the country, we bring a level of expertise that promises to deliver. They have partnered with local architects, general contractors, and property managers, forming a collaborative team that is deeply invested in the well-being of the city.

Critics argue that the City of Miami Beach should take on the renovation and operation of The Barclay, but the reality is that the city faces budget constraints, and taking on such a monumental project is financially unfeasible. Moreover, the uncertainty surrounding the city’s ability to execute efficiently will only delay the rejuvenation of this historic property further. The City has owned the property for 7 years and nothing has happened; Miami Beach cannot afford to wait.

Our proposal provides certainty. With our plan, neighbors and community members can be assured that The Barclay will be restored to its former glory, and the blight that has plagued the area will be eliminated. That’s a promise.

Further, the inclusion of workforce housing aligns perfectly with Miami Beach’s stated commitment to inclusivity and diversity. By offering affordable housing options to hardworking residents, The Barclay development will ensure that Miami Beach remains a city where everyone has a chance to thrive.

It’s time for the City of Miami Beach to embrace this opportunity with open arms. Our proposal brings much-needed private investment into the revitalization process. Based on the Commission’s guidance, we are willing to pay the city $300,000 up front, up to $200,000 per year and an additional $200,000+ in real estate taxes annually. This infusion of funds will contribute to the city’s financial health while supporting resiliency and stormwater management.

Moreover, the restoration of The Barclay aligns with Miami Beach’s commitment to environmental sustainability. Legacy and Urban American’s plan aims to achieve LEED Gold and WELL Certification, making the development not just beautiful, but also environmentally conscious and resilient.

Miami Beach has the chance to be at the forefront of positive change by embracing our proposal. Let’s choose progress over stagnation, revitalization over decay, and inclusivity over exclusivity. The transformation of The Barclay will set an example for other cities facing similar challenges, demonstrating how collaboration between the private sector and the community can create remarkable results.

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The Real Estate Shop Podcast With Donahue Peebles III

Listen to the latest episode of the Real Estate Shop Podcast! In this episode, discover how Donahue Peebles III started his journey to become a real estate developer and his learnings from his Dad, the legendary R. Donahue Peebles Jr.
Donahue takes us through the vision behind Legacy Real Estate Development, offering insights, goals, and some pro tips on navigating professional relationships in the real estate world.

Don’t miss out, tune in to the podcast now: https://rss.com/podcasts/areaprobe/1086773/

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