{"id":21496,"date":"2021-07-14T23:11:47","date_gmt":"2021-07-15T04:11:47","guid":{"rendered":"https:\/\/myboysay.com\/blog\/?p=21496"},"modified":"2021-07-15T00:34:55","modified_gmt":"2021-07-15T05:34:55","slug":"roy-donahue-don-peebles-is-the-founder-chairman-and-chief-executive-officer-of-the-peebles-corporation-the-largest-black-owned-real-estate-development-and-ownership-company-in-the","status":"publish","type":"post","link":"https:\/\/myboysay.com\/blog\/?p=21496","title":{"rendered":"Roy Donahue \u201cDon\u201d Peebles is the Founder, Chairman and Chief Executive Officer of the Peebles Corporation, the largest Black owned real estate development and ownership company in the US, and Mr. Peebles is Launching a $500 Million fund for Minority Developers"},"content":{"rendered":"
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Roy Donahue \u201cDon\u201d Peebles is the Founder, Chairman and Chief Executive Officer of the Peebles Corporation<\/a>, the largest Black owned real estate development and ownership company in the US, with a multibillion-dollar development portfolio of luxury hotels, high-rise residential and commercial properties.<\/strong><\/p>\n

\"Black<\/strong><\/p>\n

He recently announced that his firm will be launching a $500 million investment fund for 60 deals that involve minority and women developers in cities where the firm operates, including New York, Los Angeles, Washington D.C., and Philadelphia.<\/strong><\/p>\n

In addition to supplying capital,\u00a0Peebles<\/a>\u00a0said his company will look at ways to support the emerging developers. Through co-developing or partnerships, he hopes the fund will \u201chelp mitigate risk and help them grow quicker.\u201d<\/strong><\/p>\n

The fund will focus on a variety of commercial and multifamily projects, with an emphasis on projects that range between $10 to $70 million.that offer affordable housing<\/strong><\/p>\n

\u201cThe idea is to create this business model that shows that investing in emerging developers and investing in diversity will result in higher returns with less risk,\u201d Peebles added.<\/strong><\/p>\n

\u201cIt\u2019s a very positive thing to have the developments that are taking place in communities of color, to have the projects be developed by people of color,\u201d Peebles said. \u201cWe see this as a win-win and an untapped market.\u201d<\/strong><\/p>\n

We previously listed Don Peebles on our list of Top 24 Black Real Estate Businesses and Professionals.<\/a><\/strong><\/p>\n<\/div>\n

How Don Peebles Became One of the Wealthiest African-American Real Estate Developers<\/strong><\/h1>\n

The steady rise of real estate mogul Don Peebles Jr.<\/strong><\/p>\n

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Don Peebles had it all planned out. He was going to major in pre-med at Rutgers University, move on to medical school, and become a doctor to establish some financial security. Then he\u2019d use his income to invest in real estate and get really rich. He even had a role model in his uncle in New Jersey, who had done the same and lived a very comfortable life.<\/strong><\/p>\n

But as a 19-year-old college sophomore, he had an epiphany: Why not just cut out the first step?<\/strong><\/p>\n

He set a goal to become a multimillionaire by the time he would have graduated from medical school at 26 years old. He got there.<\/strong><\/p>\n

Peebles, now the founder, chairman, and CEO of New York\u2013based Peebles Corp., is one of the wealthiest African-American real estate developers in the United States, with Forbes<\/em> estimating his net worth in excess of $700M. But the quiet force and longtime D.C. power player is now stepping into a brighter spotlight with his largest project yet in a land where many come to make it big: Los Angeles.<\/strong><\/p>\n

Peebles, 59, recently visited the location of that project, Angels Landing in Downtown Los Angeles, set to debut in 2024. The $1.6B residential, hotel, and retail complex that sits on a vacant parcel on Bunker Hill will feature an 80-story skyscraper, making it one of the tallest buildings in the Western United States. The plan is to build a vertical community to tie together one of the more disjointed areas of L.A.\u2019s bustling core.<\/strong><\/p>\n

CSQ<\/em> caught up with Peebles at the Waldorf Astoria in Beverly Hills after a long day of site tours to find out more about his path to success\u2014and where it might be headed next.<\/strong><\/p>\n

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A rendering of Angeles Landing in Los Angeles, which will combine hotel, residential, and retain in an 80 story tower, one of the tallest buildings in the Western US<\/strong><\/p>\n<\/div>\n

Made in America<\/span><\/strong><\/h4>\n

Roy Donahue Peebles Jr. was born in 1960 in Washington, D.C., to a 19-year-old mother. His parents divorced when he was five. Although his family struggled financially, his enterprising mother exposed him early on to real estate and politics. She became a real estate salesperson and broker as a way to make extra money to support the family when they were living in Detroit for a few years, and a young Peebles filed that away as a possibility to support himself in the future.<\/strong><\/p>\n

The family eventually returned to D.C., where Peebles got his first white collar job (he\u2019d held the positions of gas station attendant and janitor previously), as a page in the House of Representatives on Capitol Hill during his last two years of high school. He was then an intern for two members of Congress, and during his senior year, served as a full-fledged staff aide for another member of Congress.<\/strong><\/p>\n

In order to do that work, Peebles attended a special school for pages. Classes were held on the top floor of the Library of Congress and began at 6 a.m., which meant he had to wake up at 4:30 a.m. to catch the bus. He would be in class until about 10:30 a.m., then cross the street to get to work at the U.S. Capitol. \u201cI got a great education about life, politics, and how the world really works,\u201d he says.<\/strong><\/p>\n

On top of that, Peebles was on the school basketball and chess teams, which meant he sometimes wouldn\u2019t get home until 10 p.m. That was followed by at least two hours of homework and another pre-dawn wake up the next day.<\/strong><\/p>\n

After high school, Peebles went to Rutgers University in Newark, New Jersey, where he studied pre-med and worked part-time at his uncle\u2019s office and in the local office of Rep. Peter Rodino.<\/strong><\/p>\n

\u201cI was kind of bored with school,\u201d he says. \u201cI wanted to be busier.\u201d So, at the end of his freshman year, Peebles decided to try real estate. He planned on giving it a year, going to college part time in D.C. and getting his real estate salesperson\u2019s license.<\/strong><\/p>\n

The problem was, this was 1979 when interest rates were 25 percent. Peebles was a great salesman, but few people could qualify for loans to pay for houses. Nevertheless, by his sophomore year, he was dead set on becoming a real estate mogul.<\/strong><\/p>\n

Raising Capitol<\/span><\/strong><\/h4>\n

After leaving school, Peebles shifted gears and hung a shingle in D.C. as a real estate appraiser. In 1982, Marion Barry, whom Peebles had befriended as a teenager, ran for re-election as the mayor of Washington, D.C., and won. Since moving back, Peebles had become close with several of Barry\u2019s staffers. He was offered a position as chairperson of the real estate commission. He wasn\u2019t able to hold that role since he was a licensed salesperson and not a broker, but was urged to consider a different position: on the property tax appeals board.<\/strong><\/p>\n

The next year, he politically maneuvered his way to become chairman of one of the most important real estate boards in D.C., at age 24. He continued building his real estate appraisal business, but in 1986 a real estate opportunity crossed his desk that would be pivotal in his career. He was just turning 26. It was in an area targeted for economic development by the mayor, with whom Peebles had a strong relationship. He got the city to pre-lease office space in the building. Then, he found some investors and got half the deal. \u201cI understood how politics and business are interconnected,\u201d he says.<\/strong><\/p>\n

Peebles had been looking at development sites that were owned by the city of D.C. When he started his appraisal business, he\u2019d taken more office space than he needed because he got a good deal and sublet extra space to two real estate brokers. One of those brokers helped him find investors for a development deal he was putting together.<\/strong><\/p>\n

That deal didn\u2019t get done, but the other subtenant came through with an opportunity just in time. \u201cHe presented a development site in this area that was targeted [by the city] for economic development and a letter from the mayor proposing to lease office space to be built on that site by a developer,\u201d Peebles explains. \u201cBut the developer didn\u2019t have control over the site, because he was haggling over the price.\u201d<\/strong><\/p>\n

Peebles made a deal to pay the seller the asking price but asked for more time. He approached the investors from the other deal to ask how they\u2019d like a deal to lease to the government for 20 years. Peebles still owns the property today, where his son is overseeing renovations.<\/strong><\/p>\n

Once he did that deal, he left the property tax board and used his institutional knowledge to start a business helping property owners appeal their tax assessments. Then the S&L crisis hit. It was a disaster for most real estate investors\u2014but not Peebles.<\/strong><\/p>\n

\u201cProperty values were plummeting, so my tax appeals business skyrocketed. I was getting a lot of cash coming in,\u201d Peebles says. \u201cSo I took the cash and started buying properties. Many of my clients lost their properties and the banks would hire us to do assessment appeals. Sometimes I would buy from the banks.\u201d<\/strong><\/p>\n

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Working in his New York office<\/strong><\/p>\n<\/div>\n

Beyond the Beltway<\/span><\/strong><\/h4>\n

In 1990, Barry was arrested after being caught smoking crack cocaine in a police sting operation. \u201cThe politics changed in the city for a period of time, so I had to look at alternatives,\u201d Peebles says.<\/strong><\/p>\n

He got involved in national politics, serving on Bill Clinton\u2019s national finance committee during the 1992 presidential race. But his old friend Barry had an improbable comeback, winning election as mayor of D.C. again in 1994. At the time, Peebles was negotiating with the city for two buildings. Despite what he says was a far superior offer, Peebles lost the deal. He took it as a sign that the climate had changed for him in D.C. and decided to take a vacation somewhere warmer. He and his new wife, Katrina, headed to Miami.<\/strong><\/p>\n

The two of them quickly fell in love with the energy of the city and decided to buy a vacation home there. Again, his timing was perfect, with Miami at the start of a real estate boom. While spending the holidays at that vacation home, Peebles read a hotel site in Miami Beach. The Shorecrest Hotel had recently been purchased for $900,000, but was now on the market for $5M, Peebles recalls.<\/strong><\/p>\n

What really caught Peebles\u2019 eye was that the site was situated next to the Royal Palm hotel, which was owned by the city of Miami Beach. The city was looking to develop the site, and its request for proposal called for a majority African-American developer. Miami-Dade County was coming off a three-year boycott led by the African-American community, which targeted the region\u2019s economic lifeline, the tourist industry. Peebles was the right developer at the right moment.<\/strong><\/p>\n

He called the broker who sold him his house and said he wanted to see the Shorecrest and get a copy of the RFP for the Royal Palm. Then he went back to D.C. \u201cOn the flight back,\u201cI told Katrina, \u2018Look, we\u2019re going to bid on this hotel project, and we\u2019re going to win it, and it\u2019s going to change our lives,\u2019\u201d Peebles says.<\/strong><\/p>\n

Peebles approached Hyatt heir Nick Pritzker, his biggest competitor for the project, with an offer to work together and build a Hyatt-flagged hotel on the site. But Hyatt blew him off. Another local developer said, \u201cthere was no way a black guy from Washington, D.C., who hasn\u2019t done anything here was going to win the site,\u201d Peebles recalls. That only motivated him more.<\/strong><\/p>\n

They also underestimated his political ability. Peebles was a savvy operator who was experienced in partnering with government entities and capitalizing on opportunities set out for minority developers. He also had some Clinton connections that came in handy. After a hard-fought battle, Peebles was approved as developer of the Royal Palm in June 1996.<\/strong><\/p>\n

It was the biggest project he\u2019d ever built. And it turned out that not winning those deals in D.C. was a bigger win. \u201cIt taught me the most important lesson,\u201d he says. \u201cSetbacks are opportunities in disguise.\u201d It also forced him out of a comfortable path in D.C. \u201cI would have stayed just like many developers do, in the same place,\u201d he says. \u201cAnd my life would have been totally different.\u201d<\/strong><\/p>\n

Club Made<\/span><\/strong><\/h4>\n

Peebles was just getting started in South Florida, and as has been typical in his career, his timing was impeccable. The condo craze was exploding, and business was booming. A broker told Peebles that Miami Beach\u2019s historic Bath Club, essentially a country club on the ocean, was in financial trouble and was going to sell. One other thing: It was a \u201crestricted club\u201d that didn\u2019t allow black or Jewish members. \u201cI got to buy a site and also make a point,\u201d Peebles says.<\/strong><\/p>\n

To try to survive, the club had its property downzoned to reduce property taxes. Then a law was changed that limited upzoning, which kneecapped its value. However, during his due diligence, Peebles\u2019 team discovered a technicality that eventually allowed him to get the club rezoned. He developed condos on the site and overhauled the club.<\/strong><\/p>\n

From there, Peebles saw a lot of possibilities and his goals and desires grew bigger and more national. His wife had lived in San Francisco, so he bought properties in the Bay Area. He bought the offices of Internet ad service DoubleClick and sold for twice the purchase price.<\/strong><\/p>\n

He also sold the Royal Palm, in December 2004 for $127.5M, the highest-ever price paid at the time for a Miami Beach hotel. (It is now part of Marriott\u2019s Tribute Portfolio line.) He finished work on the Bath Club and sold all of the condos by 2006.<\/strong><\/p>\n

When Peebles built his first building in Washington, D.C., he donated 10 percent of the proceeds to a nonprofit community development organization. The head of that organization called Peebles one day to ask his opinion about a condo in Miami. The friend had taken out a second mortgage on his D.C. house to put a down payment on a condo and flip it before closing, because he couldn\u2019t afford the mortgage. \u201cIf that\u2019s who is buying condos, all these buildings that I think are sold out are not really sold out,\u201d Peebles says. \u201cThe supply is even greater than statistics are showing. We\u2019re done in this market for a while.\u201d<\/strong><\/p>\n

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Angeles Landing development site<\/strong><\/p>\n<\/div>\n

Escape to New York<\/span><\/strong><\/h4>\n

Peebles was relatively unscathed by the 2008 financial crisis, but the end of the last decade was challenging in other ways. He lost both parents and an in-law in a two-year period, and he and his wife decided to move to New York in fall 2011, where he made an immediate impact. In 2013, he was awarded the largest single building sale in New York City history by the administration of then-mayor Michael Bloomberg, at 108 Leonard Street. \u201cI learned, again, that the public-private deal structure and the political skills I had developed as a teenager in Washington, D.C., were very portable,\u201d he says.<\/strong><\/p>\n

He started developing in other cities, including Philadelphia, Boston, and Charlotte, North Carolina. Now he\u2019s in Los Angeles for the biggest project of his career and the last one he\u2019ll actively lead himself. \u201cThe nice thing about starting your real estate development career at 19 is that you can have lifetimes of success and still be a relative youngster,\u201d he says.<\/strong><\/p>\n

Making an Impact<\/span><\/strong><\/h4>\n

Peebles says his proudest accomplishments are his children, Don III and Chloe. Don III is already making his presence felt in the family business. \u201cHe\u2019s got me focusing on affordable housing,\u201d Peebles says of his 25-year-old. \u201cHe wants to do something to make an impact. I\u2019m very optimistic that the company I\u2019ve built and the values I\u2019ve worked for will evolve into even a better place through the efforts of my children; they are good people.\u201d<\/strong><\/p>\n

In response to the lack of gender and racial diversity in the real estate development business and the increasing shortage of affordable housing, Peebles is starting a fund to invest in developers of affordable housing to help address the crisis in cities like Los Angeles and San Francisco. Peebles says supporting emerging, early career developers who are building midsize complexes with units not marketed toward out-of-town investors but working locals can help boost available supply. He\u2019s putting his money where his mouth is, starting a fund focused on urban infill and workforce housing. The fund will invest in projects mostly in the $20M to $50M range. He\u2019s setting a goal for the fund to do 60 deals, with 10 of those in California, and he\u2019s encouraged by the reception he\u2019s getting from an evolving society.<\/strong><\/p>\n

\u201cI see our society finally being compelled to look at things that are wrong and being able to dream about what can be and then going out and demanding it,\u201d he says, admitting it\u2019s both altruistic and good business. \u201cThose projects pay better returns than those big risky projects you\u2019re seeing now,\u201d he says.<\/strong><\/p>\n

He also believes more has to be done to open up real estate development opportunities\u2014among the greatest wealth generators\u2014to those who can\u2019t tap establishment networks or rich family and friends to get started. He says that\u2019s not the responsibility of the government, but the private sector. He\u2019s tried to lead by example, showing that being more inclusive can bring greater success.<\/strong><\/p>\n

While Peebles has previously expressed interested in running for mayor of New York, that\u2019s not in the cards now. There\u2019s too many deals to be done. Others might want to rest on their laurels after 40 years of real estate development. But that\u2019s why they\u2019re not Don Peebles.<\/strong><\/p>\n<\/div>\n<\/div>\n

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Don Peebles<\/strong><\/h3>\n
Chairman and CEO | Peebles Corporation<\/strong><\/h5>\n

Age <\/span><\/strong>
\n 59<\/span><\/strong><\/p>\n

Hometown <\/span><\/strong>
\n Washington, DC<\/span><\/strong><\/p>\n

Residence <\/span><\/strong>
\n Coral Gables, FL
\nand New York<\/span><\/strong><\/p>\n

Family <\/span><\/strong>
\nWife, Katrina; son, Donahue III (25); and daughter, Chloe (16)<\/span><\/strong><\/p>\n

On My Wrist <\/span><\/strong>
\nRoger DuBois Sympathie Platinum<\/strong><\/p>\n

In My Garage <\/span><\/strong>
\nRolls Royce Dawn; Aston Martin Vantage S; Maserati S Grand Sport<\/strong><\/p>\n

Favorite Book <\/span><\/strong>
\nTitan: The Life of J. Rockefeller, Sr.<\/strong><\/p>\n

Education <\/span><\/strong>
\nRutgers (left after 1 year)<\/strong><\/p>\n

First Job <\/span><\/strong>
\nGas station attendant<\/strong><\/p>\n

Go-to spot business drinks\u00a0<\/span><\/strong>
\nCipriani Fifth Ave. and The Rooftop by JG at the Waldorf Astoria Beverly Hills<\/strong><\/p>\n

Awards and distinctions <\/span><\/strong>
\nBE Company of The Year; Reginald F. Lewis Award; Wall Street Partnership Entrepreneur of the Year; Johnson and Wales University Honorary Doctorate of Hospitality Management; Women\u2019s Builders Council Developer of the Year<\/strong><\/p>\n

Philanthropic causes <\/span><\/strong>
\nCARE Elementary School, Miami; New York City Mission Society<\/strong><\/p>\n

Can\u2019t-miss conferences and events<\/span><\/strong>
\nForbes 400 Summit on Philanthropy; Black Enterprise Entrepreneurs Summit; Frieze Art Fair New York City and London; Art Basel Miami<\/strong><\/p>\n

mentors <\/span><\/strong>
\nRuth Yvonne Willoughby (mother); Thomas Willoughby (grandfather); Roy Donahue Peebles, SR. (father); Hilda McIntosh (aunt); Dr. Carrol W. McIntosh (uncle); Carolyn Cramer (aunt), Anthony H. Cramer, Esq (uncle); Doris Carroll (aunt); Warren Carroll (uncle); Edith Tucci (aunt); Joseph McGrath (teacher and coach); and Richard Dylus (teacher-coach)<\/strong><\/p>\n

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Peebles Corporation<\/span><\/strong><\/p>\n

Founded <\/span><\/strong>
\n1983<\/strong><\/p>\n

Employees <\/span><\/strong>
\n21 direct employees in New York and Washington, DC<\/strong><\/p>\n

Notable Past Projects <\/span><\/strong>
\nThe Residences at The Bath Club, which garnered the highest average price per square foot in the market and largest average unit sized when built. The Royal Palm Hotel South Beach<\/strong><\/p>\n

Notable Upcoming projects <\/span><\/strong>
\nAngel\u2019s Landing Downtown Los Angeles, the most luxurious hotel and condominium apartments ever built in the market<\/strong><\/p>\n

Collaborative Partners <\/span><\/strong>
\nSBE\/SLS Hotels; CBRE; Deutsche Bank; JP Morgan Chase; Handel Architects; Mandarin Hotels; Douglas Elliman; Compass; The Agency; Rolls Royce Motorcars<\/strong><\/p>\n

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Don Peebles<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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CHAIRMAN AND CEO<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Recognized as one of the most successful entrepreneurs in the nation, Don Peebles is founder, chairman and CEO of The Peebles Corporation, one of the country\u2019s few privately held national real estate investment and development companies. Mr. Peebles engages in practices of Affirmative Development\u2122 with a multi-billion dollar portfolio of projects in New York, Boston, Philadelphia, Washington D.C., Charlotte, Miami, San Francisco, and Los Angeles. \u00a0<\/strong><\/p>\n

Mr. Peebles is also the author of top-selling books, \u201cThe Peebles Principles\u201d and \u201cThe Peebles Path to Real Estate Wealth,\u201d a regular guest host on CNN, CNBC and FOX and a highly sought-after speaker who has addressed educational, business and professional audiences across the United States.\u00a0<\/strong><\/p>\n

Mr. Peebles is a passionate proponent of mentoring programs that expose youth to the value of entrepreneurship, as well as an active political supporter and fundraiser for local, state and federal campaigns of both major parties. He serves as Ambassador to the University of Southern California, on the Board of Directors of YMCA of Greater New York and on the Business Roundtable of Miami-Dade County Mayor Carlos Gimenez.<\/strong><\/p>\n

Previously, he has served on the National Finance Committee of President Barack Obama, on the Board of the Greater Miami Convention and Visitors Bureau and is the former Chairman of the Congressional Black Caucus Foundation.
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R. Donahue Peebles<\/strong><\/h1>\n
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R. Donahue Peebles<\/strong><\/div>\n<\/th>\n<\/tr>\n
\"R.<\/a><\/strong><\/p>\n
R. Donahue (Don) Peebles<\/strong><\/div>\n<\/td>\n<\/tr>\n
Born<\/strong><\/th>\n\n
Roy Donahue Peebles<\/strong><\/div>\n

March 2, 1960 (age\u00a061)<\/span><\/strong><\/p>\n

Washington D.C.<\/strong><\/div>\n<\/td>\n<\/tr>\n
Nationality<\/strong><\/th>\nAmerican<\/a><\/strong><\/td>\n<\/tr>\n
Occupation<\/strong><\/th>\nEntrepreneur<\/strong><\/td>\n<\/tr>\n
Known\u00a0for<\/strong><\/th>\nReal estate development<\/strong>
\nPeebles Corporation<\/a><\/strong><\/td>\n<\/tr>\n
Title<\/strong><\/th>\nFounder, Chairman and CEO<\/strong><\/td>\n<\/tr>\n
Website<\/strong><\/th>\nOfficial website<\/a><\/span><\/span><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Roy Donahue “Don” Peebles (born March 2, 1960) is a real estate entrepreneur, author, and political activist. Peebles is the Founder, Chairman and Chief Executive Officer of the Peebles Corporation<\/a>, a real estate company.<\/sup><\/strong><\/p>\n

In April 2015, Black Enterprise named Peebles as one of the “Business Trailblazers and Titans of Black America: 40 most powerful African Americans in business”.<\/sup> In May 2009, Forbes<\/i> listed Peebles in the top ten of the wealthiest black Americans, and in January 2015 it estimated his net worth to be over $700 million.<\/strong><\/p>\n

In 1979, after his freshman year as a student at Rutgers University<\/a> Peebles dropped out<\/sup> and became a real estate sales agent and appraiser in Washington, D.C. On January 9, 1983, at the age of 23, he established RDP Corporation, a residential and commercial real estate appraisal firm. Later that year, he was appointed to Washington’s Board of Equalization and Review by Marion Barry<\/a>, the real estate tax appeals board currently known as the Board of Real Property Assessments and Appeals. One year later, when Peebles was 24, Washington’s Mayor Marion Barry<\/a> appointed him Chairperson of the Board, where he served until 1988.<\/strong><\/p>\n

In 1986, a Peebles-led partnership acquired the site for his first real estate development project: a 100,000-square-foot (9,300\u00a0m2<\/sup>) Class-A office building at 2100 Martin Luther King Ave. SE.<\/sup> In 1990, Peebles founded RDP Assessment Appeals Services, a Washington-based commercial tax assessment appeals firm. Peebles continued to acquire commercial buildings and development sites in Washington, D.C. throughout the 1990s, including 10 G Street NE, and the Convention Center Courtyard by Marriott.<\/strong><\/p>\n

In 1996, Peebles redeveloped the 1930s Royal Palm hotel in Miami Beach.<\/sup> The Royal Palm Resort became the nation’s first major hotel developed and owned by an African American. Other Miami projects include The Residences at The Bath Club, a luxury residential tower. Peebles also co-developed The Lincoln, a mixed-use development featuring Class A office space in South Beach. In the early 2000s Peebles expanded into San Francisco, Las Vegas and New York.<\/strong><\/p>\n

Peebles had been a member of the Real Estate Board of New York’s Board of Governors,<\/sup> the former Chairman of the Greater Miami Convention and Visitors Bureau, an invitee to then-President-elect Clinton’s 1992 Economic Summit in Arkansas, and in 2013 was named to Miami-Dade County Mayor Carlos A. Gimenez’s Mayoral Business Roundtable. <\/strong><\/p>\n

Peebles developed properties in Miami; Miami Beach; Washington, D.C.; and has pending developments in process in Boston, New York City, Washington, D.C., Charlotte, N.C., and Los Angeles.<\/strong><\/p>\n

His present development projects include: 108 Leonard Street (a.k.a. 346 Broadway), a luxury hotel and condominiums in Manhattan’s landmarked \u201cClocktower Building;\u201d in a joint venture with El-Ad Group, Angel’s Landing, in Los Angeles, and Brooklyn Village, in Charlotte, North Carolina. Only 108 Leonard has begun construction.<\/strong><\/p>\n

Awards<\/span><\/strong><\/h2>\n

In 2004, Peebles was elected as chairman of the Greater Miami Convention and Visitors Bureau and has been recognized by various organizations for his leadership and innovation. Also in 2004, the Peebles Corporation was recognized by Black Enterprise<\/a> as “Company of the Year.”<\/sup><\/strong><\/p>\n

He was named \u201cTrailblazer of the Year\u201d by the Metropolitan Black Bar Association in 2016.<\/sup><\/strong><\/p>\n

In 2017, the New York City Mission Society honored Peebles with its \u201cChampions for Children\u201d award.<\/sup><\/strong><\/p>\n

Politics<\/span><\/strong><\/h2>\n

Peebles is a Democrat, though he recently supported Republican President Donald J. Trump and did not hold any fundraisers for candidate Hillary Clinton.<\/span> He and his wife have supported various congressional, mayoral, gubernatorial, and presidential candidates over the years. In the early 1990s, Washington Business Journal<\/a><\/i> wrote an article citing Peebles as one of the \u201ctop fundraisers\u201d in the city.<\/span> In 1992, he hosted presidential hopeful and Arkansas<\/a> Governor Bill Clinton<\/a> in his home for a fundraiser. Peebles served as a member of President Barack Obama<\/a>‘s National Finance Committee for the President’s 2008 election and 2012 reelection campaign. In May 2008 Peebles hosted then Senator Obama for a campaign fundraiser at The Bath Club and later hosted President Obama at the home he owned in Washington D.C. for a campaign fundraiser on August 8, 2011.<\/strong><\/p>\n

In 2010, Peebles considered running to become mayor of Washington, but he decided against a run due to his mother-in-law’s illness.<\/sup> Peebles’ mother-in-law died later that year.<\/strong><\/p>\n

In 2013, Peebles was elected vice chairman of the board of directors of the Congressional Black Caucus Foundation<\/a>.<\/sup> In July 2015, he was elevated to chairperson of the CBCF’s board of directors and re-elected in February 2016, a role he held until February 2017 when he reached his term limit on the board. Peebles was the only non-member of Congress to be elected to the position of Chair of the CBCF.<\/strong><\/p>\n

Peebles’ advocacy for minority and women owned businesses, a more business friendly environment, and expansion of Charter Schools raised speculation<\/sup> that he was a potential candidate<\/a> to challenge de Blasio for re-election in the 2017 election cycle for the term beginning January 2018, however, Peebles did not enter the race citing wanting to teach his then 22-year-old son, a recent graduate from Columbia University, the real estate business, and to spend time with his 14-year-old daughter during her last four years at home before college.<\/strong><\/p>\n

In 2016, Peebles publicly advocated for President Elect Donald J. Trump on several media outlets. On CNN, Peebles said “Trump will help minorities”<\/span> and “Like him or not, Donald Trump will be good for real estate.”<\/strong><\/p>\n

Personal life<\/span><\/strong><\/h2>\n

Peebles moved to Miami, Florida, in 1998 then Coral Gables in 2001,<\/sup> has homes in Bridgehampton, Coral Gables and New York City, and lives in Coral Gables and New York City with his wife Katrina, whom he married in 1994. She is a former PR executive and model that serves on the Board of Directors of the Peebles Corporation.<\/strong><\/p>\n

His son Donahue is a Columbia University<\/a> graduate and is currently working as the Senior Associate of Development at The Peebles Corporation, where he is leading the company’s Washington, D.C. development efforts,<\/sup> His daughter Chloe is an equestrian competitor and two sport student athlete.<\/strong><\/p>\n

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Meet the Peebles, the Hamptons Family Shaping Modern Philanthrophy<\/h1>\n<\/div>\n
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With roots in the South, this family rose to become titans of New York business<\/strong><\/div>\n<\/div>\n
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<\/picture><\/strong><\/p>\n

Donahue, Katrina, and Chloe Peebles at their home in Sag Harbor <\/strong><\/div>\n<\/div>\n<\/div>\n
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Don Peebles will give it to you straight.<\/strong><\/p>\n

\u201cIn America, one of the true equalizers is money,\u201d the business leader told Avenue<\/em> magazine in June, as Black Lives Matter activists were staging the most significant social justice protests the nation has experienced in decades.<\/strong><\/p>\n

\u201c[But] from the period of slavery, through segregation, the civil rights movement of the 1960s, to the current state of economic oppression and police brutality, African Americans have been denied equal rights and equal opportunities,\u201d he said. \u201cBeing a part of a solution to knock down these barriers has driven me throughout my career to be transformative in business.\u201d<\/strong><\/p>\n

Clarity of purpose is a hallmark of R. Donahue Peebles, who is the founder and chief executive of the Peebles Corporation, a real estate giant with developments from Boston to Miami. (Forbes<\/em> once estimated his personal fortune to be $700 million.)<\/strong><\/p>\n

His success up and down the Eastern seaboard has provided a national platform for his philanthropic and political activism.<\/strong><\/p>\n

\u201cInside the clubby world of New York City politics, half of them want him to run for mayor, and the other half are terrified he will,\u201d said one longtime City Hall handicapper. \u201cDon has previously indicated he might be interested, and he would be a formidable candidate.\u201d<\/strong><\/p>\n

Peebles, who hails from Washington, D.C., began developing his political r\u00e9sum\u00e9 from a young age. He worked as a page in the House of Representatives, interned for congressmen Charles Rangel, Ron Dellums, and John Conyers, and later served as chairman of the board of the Congressional Black Caucus Foundation and on President Barack Obama\u2019s National Finance Committee.<\/strong><\/p>\n

In interviews before New York\u2019s last mayoral election, Peebles admitted giving a bid for Gracie Mansion \u201ca lot of thought.\u201d But for now, he prefers to focus on business solutions to political and social challenges, rather than running for office.<\/strong><\/p>\n

\u201cI am raising a private equity fund to invest in minority and women real estate developers and investors, therefore creating a channel where their aspirations become a reality,\u201d he said. \u201cThe fund will demonstrate that deploying capital where there is talent will reap significant financial returns and transform communities.\u201d<\/strong><\/p>\n

Peebles\u2019s most valuable allies in furthering his family\u2019s political and business influence may be his own wife and children. With Katrina, whom he married in 1994, they are parents to Donahue Peebles III, 26, and Chloe, 17.<\/strong><\/p>\n

\"\"<\/strong>
Chloe and Donahue Peebles III at the Give Back For Special Equestrians event in 2018 <\/strong><\/figcaption><\/figure>\n

Katrina works on the board of directors of the family corporation; Don is its chief of staff; Chloe is a noted equestrienne \u2014 and all four members of the family are well-known fixtures on the Manhattan and Hamptons social circuit.<\/strong><\/p>\n

\u201cMy title in the Peebles Corporation is creative director,\u201d Katrina told Avenue<\/em>, \u201cand my responsibilities include the selection of interior designers and architects who will bring the company\u2019s developments to life.\u201d<\/strong><\/p>\n

Significant recent projects have included the Residences at the Bath Club and the Royal Palm South Beach Hotel, both in Miami, as well as the Courtyard by Marriott Convention Center and two other large developments in Washington, D.C.<\/strong><\/p>\n

\u201cI bring the same strengths to my philanthropy work,\u201d Katrina adds. \u201cThe ability to explain a philanthropic effort to others and capture a feeling associated with the organization is basically a visual with an emotional component \u2014 and when people see and feel as you do, they often participate.\u201d<\/strong><\/p>\n

Katrina has served on the boards of CARE Elementary School in Miami, as well as the Mission Society of New York City. And as chatelaine of the Peebles home in Bridgehampton, she has made the estate available to a variety of good causes. One notable fundraiser took place in August, 2018, for Give Back for Special Equestrians, an organization close to the hearts of Chloe and her friend, Georgina Bloomberg.<\/strong><\/p>\n

Rolls-Royce and Goldman Sachs sponsored the event, which brought out the Hamptons social set, raising $50,000 for therapeutic horse-riding sessions to assist those facing autism, spina bifida, and other challenges.<\/strong><\/p>\n

\u201cThe equestrian sport has been one of the greatest gifts my family has provided me,\u201d Chloe told Avenue<\/em>. With a nod to the family interest, she added that she hopes the skills she learned riding will \u201caid me in becoming a productive business partner to my father, mother, and brother in the future.\u201d<\/strong><\/p>\n

Her brother, Donahue, is equally on message. Asked if there were any challenges in work-ing for his father, he replied: \u201cI don\u2019t perceive any aspect of working for a family business as particularly challenging. Working for my father is the opportunity of a lifetime, and one I am very grateful for.\u201d<\/strong><\/p>\n

The ultra-focused younger Peebleses are just the latest generation in a long line of strivers who have a record of overcoming obstacles. As their father explained: \u201cMy family roots in America were in the segregated South.\u201d<\/strong><\/p>\n

\u201cAs a child, I watched both [my parents] suffer indignities and obstructions to opportunity. As a teenager, I made promises to myself \u2014 I would live a better life, I would provide great opportunities for my children, and I would have a business that provided opportunities for people like my parents and family,\u201d he said.<\/strong><\/p>\n

\u201cThese experiences instilled in me a sense of awareness on how to overcome society\u2019s limitations. I felt a strong desire to assist others in alleviating these unnecessary hurdles, which is why I have dedicated my energy to sharing what has helped me be successful both professionally and personally.\u201d<\/strong><\/p>\n<\/div>\n

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<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Roy Donahue \u201cDon\u201d Peebles is the Founder, Chairman and Chief Executive Officer of the Peebles Corporation, the largest Black owned real estate development and ownership company in the US, with a multibillion-dollar development portfolio of luxury hotels, high-rise residential and commercial properties. He recently announced that his firm will be launching a $500 million investment […]<\/p>\n","protected":false},"author":1,"featured_media":21507,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1],"tags":[4439,4437,4438,4436],"class_list":["post-21496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-peebles_don","tag-1960-age-61-washington-d-c-nationality-american-occupation-entrepreneur-known-for-real-estate-development-peebles-corporation-title-founder","tag-chairman-and-ceo-website-official-website","tag-r-donahue-peebles-r-donahue-peebles-jpg-r-donahue-don-peebles-born-roy-donahue-peebles-march-2","et-has-post-format-content","et_post_format-et-post-format-standard"],"_links":{"self":[{"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/21496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21496"}],"version-history":[{"count":0,"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/21496\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=\/wp\/v2\/media\/21507"}],"wp:attachment":[{"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/myboysay.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}