Donahue Peebles III Shares Insights on Real Estate Development at Congressional Black Caucus Event
The 2023 Congressional Black Caucus event took place on Friday, September 22, at the DC Convention Center. Donahue Peebles III, Legacy’s chairman, was invited to be a panelist at the Congressional Black Caucus event hosted by the National Association of Real Estate Brokers. This year’s real estate event centered around one of the most critical facets of the industry: real estate development. This incredible panel included industry experts featuring Malik Yoba and Chris Senegal.
During the event, Donahue shared not only facts but also his passion for real estate development, including the concept of affirmative development. Attendees had the privilege of gaining deep insights into this transformative approach and its potential to shape real estate communities positively.
The Congressional Black Caucus event was more than just informative; it was truly inspiring. It provided a vision of how, together, we can uplift and empower our communities through real estate. Donahue Peebles III’s presence on the real estate panel was proof of his commitment to making a meaningful impact on the real estate industry and, by extension, the communities it serves.
Stay tuned for more real estate updates. Happy developing!
“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.
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/
Diversity Dimensions in Commercial Real Estate
Celebrating a Great Event!
Jerrod had the opportunity to be a guest panelist at the Diversity Dimensions in Commercial Real Estate Conference along with amazing experts in the industry.
During the event, he shared his diverse background and extensive involvement in Commercial Development and many Affordable Housing initiatives.
This event focused on Commercial Real Estate Investing, Technology, Opportunity Zones, Financing, Tax Incentives for Developers, and more.
2023 DCRE Conference – Jerrod Delaine
Jerrod Delaine, CEO of Legacy Real Estate Development, dives into development opportunities and guides aspiring individuals on their journey in this field. He discusses essential attributes for young developers and highlights the benefits of starting a career in development within the public service sector.
This incredible panel features experts such as Lins Agokeng, Alexis McSween, and Thomas Campbell.
2023 Diversity in Commercial Real Estate Conference
Last weekend, Jerrod Delaine had the amazing opportunity to be a speaker at the 2023 Diversity in Commercial Real Estate Conference!
His presentation focused on development opportunities and offered real-world advice. It was such a fantastic event, bringing together key players in the industry!
We gained valuable insights, and amazing content, and got the chance to connect with professionals in the industry.
Read more here: https://dcre23.quvent.com/
Green Mandates Can Add Value For High-End Apartments But Make Affordable Housing Harder To Build by Bisnow
Donahue Peebles III was invited to speak at Bisnow’s Boston Multifamily Conference on June 27th.
The event brought together prominent real estate executives who shed light on the significance of green mandates in achieving cities’ climate goals and discussed the additional strain they place on housing development, particularly in regions facing housing shortages.
During his engaging presentation, Donahue highlighted the importance of environmental sustainability and affordable housing for society to thrive. He stated, “There is certainly a hierarchy of needs, and I certainly think housing comes first, and ultimately we are solving for a more sustainable planet. I think that is important, but I also want to make sure there are no tents in public parks.”
Read the full article here: https://www.bisnow.com/boston/news/multifamily/developers-say-green-mandates-add-value-for-high-end-apartments-but-make-affordable-housing-harder-to-build-119620
Commercial Real Estate Insights & Affordable Housing Development With Donahue Peebles III – The Mogul Marathon Commercial Real Estate Podcast
Episode #55 of the Mogul Marathon Commercial Real Estate Podcast!
In this episode, Legacy Chairman, Donahue Peebles III, shares his journey in the commercial real estate space today, and his passion for affordable housing development.
Yannik Cudjoe-Virgil, the podcast host, engages with Donahue in thought-provoking discussions covering topics that include:
* Identifying the role of mental preparation during Donahue’s early years and its profound impact on his growth as a developer.
* Determining the asset classes in the current market with the most opportunities today.
* Addressing the challenges of affordable housing in the midst of inflationary pressures.
* Recognizing the importance of establishing a robust infrastructure for long-term success in the industry.
As Donahue mentions, “I make sure I encourage people to focus on the fundamentals but also to evaluate transactions, clear-eyed, not caring so much about winning the deal as much as ensuring its profitability.”
Indeed, this is great advice. Don’t miss out on this episode, filled with valuable insights and knowledge. Tune in now to Episode #55 of the Mogul Marathon Commercial Real Estate Podcast and gain a comprehensive understanding of the commercial real estate space, guided by the wisdom of this industry trailblazer!
Listen to the podcast here: https://bleav.com/shows/mogul-marathon-real-estate-podcast/episodes/ep-55-commercial-real-estate-insights-affordable-housing-development-with-r-donahue-peebles-ii/
Development Brings Affordable and Supportive Housing to Washington, D.C. by Affordable Housing Finance
17 Mississippi Apartments utilizes the local Housing Production Trust Fund and 4% LIHTCs.
The article emphasizes our partnership with the NHP Foundation to open 17 Mississippi Apartments, in Washington, D.C. The development offers 41 units, including supportive housing for the homeless and residences for income-qualified artists. Funding of $22.9 million came from various sources, including the D.C. Housing Production Trust Fund and low-income housing tax credits. The project aligns with the city’s goal of creating 36,000 housing units, including 12,000 affordable ones by 2025. Additionally, Legacy Chairman, Donahue Peebles III, emphasized the importance of affordable housing for socioeconomic mobility in underserved communities.
Read the full article here:
21-Unit All-Affordable Development Planned For Middle of Anacostia by Urban Turf
We are excited to announce that we have submitted plans to DC’s Historic Preservation Office for an innovative 21-unit residential development located at 2100 Martin Luther King Jr. Avenue SE. This project aims to transform a vacant parking lot into a three-story building.
The development will consist of thoughtfully designed one- and two-bedroom apartments, all offered at an affordable rate of 60% AMI, making it an inclusive and accessible housing option for the community.
We can’t wait to bring this vision to life, with a groundbreaking scheduled for fall 2024. Stay tuned for more updates on this incredible initiative.
Read the full article here: https://dc.urbanturf.com/articles/blog/21-unit_all-affordable_development_planned_for_middle_of_anacostia/21212
