Executive Summary

Legacy Real Estate Development, LLC was established in 2018 by R. Donahue Peebles III, Executive Vice President of The Peebles Corporation. He currently leads The Peebles Corporation’s Washington, DC development efforts, including 1221 V Street SE a 20-unit affordable housing project that received an allocation of 9% LIHTCs in 2017. Similarly, Donahue has spearheaded Legacy Real Estate Development, LLC to be awarded the development of a 41-unit affordable housing project in 17 Mississippi Avenue, SE that received an allocation of 4% LIHTCs in 2018.

Donahue holds a bachelor’s degree in Economics from Columbia University and has worked professionally in real estate development at the Peebles Corp since 2012.

The Peebles Corporation was founded in Washington D.C. in 1983 by R. Donahue Peebles. The Peebles Corporation is widely recognized as one of the largest minority-owned real estate development companies having acquired and developed a multi-billion-dollar portfolio of luxury hotels, high-rise residential and class-A commercial properties over the course of its history. Peebles’ portfolio consists of completed and current developments totaling 7 million square feet and more than $6 billion across the country in cities such as New York, Philadelphia, Washington D.C., Boston, Los Angeles, and Miami.

The firm has established a successful record with public/private partnerships in which it develops underutilized publicly owned real property assets to maximize value and transform communities. In 2013, Peebles acquired 108 Leonard, the largest single-building sale in New York City government history. In February 2016, Peebles closed on a $411,000,000 construction loan and mezzanine financing to begin construction on this 420,000 square foot Tribeca landmark which includes residential condominiums, retail and a dedicated community space. The 108 Leonard project is projected to deliver in 2019. The firm has built a national track record based on sustained excellence in executing community focused development projects.

Legacy Real Estate Development will leverage the significant development experience of The Peebles Corporation and the specialized affordable housing experience of the other development team members to complete its efforts in building affordable housing units in the country.