Peebles Corporation

For the U.S. department store chain, see Peebles (store).

Peebles Corporation

Company type	Private
Industry	Real estate investment and development
Founded	1983
Headquarters	Miami Beach, Florida
Key people	R. Donahue Peebles (Founder, Chairman and CEO)
Website	peeblescorp.com

Peebles Corporation is a privately held real estate investment and development company led by Roy Donahue Peebles. Headquartered in Miami Beach, with offices in New York and Washington, DC, the company was founded by R. Donahue Peebles in 1983. The company specializes in residential, hospitality, retail, and mixed-use commercial properties, with a focus on public-private partnerships. ^[1]

History

The Peebles Corporation was established in 1983 by R. Donahue “Don” Peebles, Jr. ^[2] As per media reports, it is one of the largest black-owned development corporations in the United States. ^[3]

Peebles acquired the 87-acre Pacifica’s Rockaway Quarry for $7.5 million in 2005, with plans of building a mixed-use center with housing, hotel and retail. The project was not approved by voters in 2006 and the property was later put up for sale. ^[4]

In December 2017, Peebles Corporation, as part of the three-team development partnership Angels Landing Partners, was approved to redevelop the Bunker Hill site in Downtown Los Angeles, dubbed Angels Landing. ^[5] The estimated $1.2 billion development would include residential, hotel, retail, and communal spaces distributed over two towers. In February 2024, the city terminated the agreement with Angels Landing. In January 2025, Peebles and MacFarlane filed a lawsuit against the City of Los Angeles for allegedly unlawfully terminating their contract, seeking to recover $20 million they invested. ^[6]

Developments

Select developments

• 2100 Martin Luther King Jr. Avenue SE (Washington, DC) - Completed in 1991, this 100,000-square-foot office building was developed as a public-private partnership with the District of Columbia. The project preserved a small historic Art Deco structure, incorporating it into a larger newly constructed office facility. In 2010, the District filed a civil lawsuit against 2100 Martin Luther King Associates LP, a partnership managed by developer R. Donahue Peebles. The lawsuit alleged that the developer improperly billed the city under the lease agreement, including expenses deemed non-reimbursable such as political contributions and valet parking. The District sought $1.8 million in damages and penalties. ^{[7] [8]} After two years of litigation, the matter was resolved in November 2012 through a settlement. Peebles agreed to pay $120,000 without an admission of liability. Both parties waived further claims and agreed to cover their own legal costs. ^[9]
• 10 G Street NE (Washington, DC) - The Peebles Corporation co-developed this 280,000-square-foot Class A office building located in Washington, DC's NoMa neighborhood. ^[10]
• Courtyard by Marriott Convention Center Hotel (Washington, DC) - Acquired in the 1990s, this 188-room hotel was Peebles’ first hospitality investment in Washington, DC. Located near the National Mall and the Capital One Arena, the property was sold in 2017 after nearly 25 years of ownership. ^[11]
• Royal Palm Hotel (Miami Beach, FL) - Completed in 2002, the Royal Palm Resort became the nation's first Black-owned luxury resort. Peebles sold the 417-room property in 2005 to The Falor Companies and The Mitchell Companies for $127.5 million. The new owners aimed to convert a portion of the rooms into condominium hotel units. ^[12] In 2009, Peebles’ company regained management control after a court found that partner Guy Mitchell had engaged in misconduct, though Peebles retained only a 12.5% ownership stake. ^[13] In 2015, Miami real estate broker Dora Puig was awarded $420,000 in damages after alleging that Peebles had withheld commissions for sales she made at the Bath Club, following a legal dispute that lasted over a decade. ^[14] The property entered receivership in 2010 and was sold at foreclosure auction to Sunstone Hotel Investors Inc. for $126.1 million. ^[15]
• Residences at The Bath Club (Miami Beach, FL) - This luxury residential development includes a 20-story tower and was built on the site of the historic Bath Club. The project offered oceanfront condominiums and access to club amenities. ^[16]
• The Historic Bath Club (Miami Beach, FL) - Acquired in 1999, this landmark property has served as a private club and event venue. It has been subject to litigation regarding contract violations and maintenance disputes. In 2020, a court ordered a Peebles-affiliated entity to pay $1 million in sanctions, underscoring ongoing challenges in preserving and managing historically designated properties. ^[17]
• 108 Leonard / 346 Broadway (New York, NY) - In 2013, Peebles acquired this landmarked building—formerly the New York Life Insurance headquarters—via a public RFP for $160 million. A majority stake was later sold to the El Ad Group. The 400,000-square-foot redevelopment, which includes residential and retail space, has faced delays and legal challenges. Disputes included litigation over structural modifications to protected architectural elements such as the building’s clock tower. Community opposition and regulatory scrutiny also slowed progress, highlighting the complexity of redeveloping historically sensitive sites. ^{[18] [19]}

Cancelled, rescinded, or delayed projects

Several high profile projects have stalled or been rescinded, despite receiving media attention.

• Affirmation Tower (New York, NY) - The Peebles Corporation submitted an RFP to the City of New York to build the tallest building in the Western Hemisphere. ^[20] As a result of the transition from the administration of Governor Andrew Cuomo to Governor Kathy Hochul, the state cancelled the solicitation in December 2021. ^{[21] [22] [23]} In 2022, The Peebles Corporation pledged 50,000 square feet of space at the base of the tower to house Rev. Al Sharpton’s planned National Civil Rights Museum. A home for the NAACP was also a part of Peebles’ bid. ^{[24] [25]}
• Brooklyn Village (Charlotte, NC) - After a 2015 RFP process, Mecklenburg County selected The Peebles Corporation to develop Brooklyn Village. ^[26] The Peebles Corporation secured funding from Stonehill Strategic Partners for Phase 1 of the development in August 2023. ^[27] Under the revised proposal, Peebles has agreed to a 99-year affordability covenant. Inlivian, Charlotte's housing authority, will be the project's co-developer and provide residents with wraparound services, such as child care and financial literacy training. Legacy Real Estate Development has also joined the project. ^[28]
• 1801 Vine Street (Philadelphia, PA) - The City of Philadelphia cancelled Peebles Corporation’s contract at 1801 Vine Street, a proposed luxury boutique hotel in Philadelphia's historic Family Court Building. The city said the decision was made "in consideration of the impact of COVID on the hospitality market". ^[29]
• Aqueduct Casino (Queens, NY) - The Peebles Corporation formed a joint venture with MGM Grand and Harbinger Capital in 2010 in response to a RFP for the Aqueduct Casino in New York. ^{[30] [31]} Although initially viewed as a potentially successful casino candidate, The Peebles Corporation was unable to secure and develop the Aqueduct Casino project in Queens, New York. ^{[32] [33]}
• 5th & I (Washington, D.C.) - Peebles was selected to redevelop Fifth and Eye, a parcel in Washington, D.C.'s Mount Vernon Triangle neighborhood, into a mixed-use development, however, Peebles and his development partner were unable to move forward with the project; ^[34] In 2010, Peebles was sued by the D.C. Attorney General for alleged billing issues. Peebles maintained the charges were politically motivated due to the opposition to then Mayor Adrian Fenty’s failed re-election bid earlier that year. The court dismissed most of the claims against Peebles. ^{[35] [36]} The Walker Group sued Peebles, several related entities, and the D.C. government in 2019. According to court documents, the case went to trial in December, and a jury backed Peebles. ^[37]
• Broward County Convention Center Hotel (Ft. Lauderdale, FL) - The Peebles Corporation responded to a Request for Proposal issued by Broward County to build a hotel and convention center. After four years of negotiations, Peebles was unable to come to terms with the county and filed a lawsuit against the county for costs. The litigation continued until 2012 when a court ruled against Peebles. ^{[38] [39]}
• Long Island Community Hospital (Brooklyn, NY) - In 2014, Peebles, along with development partners, responded to a Request for Proposal to redevelop the LICH hospital site, but were unable to come to terms on the deal; Peebles alleged the site was environmentally uncertain and stopped negotiating with the partnership. ^[40] SUNY ended negotiations with The Peebles Corporation for Long Island College Hospital (LICH) after Peebles' proposal for a cost-sharing agreement on environmental remediation and potential delays in restarting healthcare services diverged from SUNY's initial plan. ^[41]
• Viola Back Bay (Boston, MA) - In 2015, the Massachusetts Bay Transportation Authority and Massachusetts Department of Transportation chose Peebles for the development of an intersection in Boston's historic Back Bay neighborhood. Plans for the proposed $330 million, 390,000-square-foot project include a hotel, condominiums, rental apartments, retail, and a Hynes MBTA station. ^[42] As of May 2023, the project was under review with Boston Planning & Development Agency. ^[43]

Philanthropy & community involvement

The Peebles Corporation works with local organizations in the communities in which they build projects. In 1998, the company founded the Entrepreneurship Academy at The Hospitality High School in Washington, DC. The company also helped build CARE Elementary in Miami in one of the most underserved communities in the city. Peebles works with the Milken Institute to support various initiatives with both the Prostate Cancer Foundation and global leadership. ^{[44] [45]}

In 2019, Peebles launched Peebles Emerging Developer Fund, a $500 million investment fund for women and minority developers in New York, Los Angeles and South Florida. ^[46] The fund has been trying to attract investors and deploy capital, but has encountered difficulties as it is focusing on public employment pension funds who have been hesitant. Peebles initially wanted to begin investing in by the end of 2020. ^{[47] [48]} As of 2022, the fund is raising capital to its new target, $450 million. ^[49]

References

1. Richter, Joseph (9 August 2022). "Inside the Boardroom: Don Peebles". Daily Beat.
2. Kaplan, Talia (23 February 2022). "NYC real estate developer Don Peebles' advice on how to achieve the American dream". FOX Business .
3. McMullen, Troy (12 October 2018). "Real estate entrepreneur Don Peebles is still building on his success". Washington Post .
4. Diener, Kyvel (20 March 2009). "Pacifica's quarry land, once again, up for sale". East Bay Times. Archived from the original on 5 December 2019. Retrieved 29 January 2026.
5. Barragan, Bianca (2017-12-13). "City Council approves Angels Landing plan that would bring 88-story tower, elementary school to Bunker Hill". Curbed LA. Archived from the original on 2018-06-27. Retrieved 2018-06-27.
6. Schram, Lauren Elkies (2025-01-17). "Peebles, MacFarlane entity sues city for thwarting $1.6B Angels Landing project". The Real Deal. Retrieved 2025-05-13.
7. "D.C. Sues Developer Controlled by Peebles". NBC4 Washington. 2010-11-10. Retrieved 2025-06-19.
8. "Examiner Local Editorial: In politically charged lawsuit, D.C. wimps out - Washington Examiner". 2012-11-27. Archived from the original on 2025-06-15. Retrieved 2025-06-19.
9. "D.C. settles civil case against partnership co-led by R. Donahue Peebles". www.bizjournals.com. Retrieved 2025-06-19.
10. "Property details - 10 G Street NE". Cushman & Wakefield.
11. Sernovitz, Daniel J. (2017-03-22). "Peebles sells the first hotel it acquired in D.C. nearly a quarter-century ago". Bizjournals.com.
12. "The Falor Companies And Peebles Atlantic Development Corporation Announce Sale Of Royal Palm Hotel". www.hotelnewsresource.com. Retrieved 2025-06-19.
13. "Peebles Gains Management Control of Royal Palm Hotel". BioSpace. 2009-02-23. Retrieved 2025-06-19.
14. Nehamas, Nicholas (2015-05-13). "Local broker wins $423,000 in lawsuit against developer Don Peebles". Miami Herald. Retrieved 2025-06-19.
15. Landa, Allison (2010-08-18). "Miami Beach's 409-Room Royal Palm Hotel Trades for $126.1M in Foreclosure Auction". Commercial Property Executive. Retrieved 2025-06-19.
16. "Bath Club Condominium Information".
17. "Peebles affiliate must pay $1M in sanctions over Bath Club dispute".
18. Cunningham, Cathy (11 January 2022). "JP Morgan, Lionheart Lend $229M on Tribeca Clock Tower Building".
19. "Peebles efforts to silence landmarked clocktower foiled".
20. Cherner, Jessica (10 December 2021). "5 Reasons the Affirmation Tower Is New York's Most Exciting Real Estate Project". Architectural Digest .
21. Young, Liz (December 23, 2021). "New York state rescinds RFP for development of lot next to Javits Center". New York Business Journal.
22. "Statement from Empire State Development Acting Commissioner and President & CEO-Designate Hope Knight Regarding the Rescinding of the RFP for Javits Site K". Empire State Development. 21 December 2021. Archived from the original on 5 December 2022. Retrieved 17 January 2023.
23. Brenzel, Kathryn (2023-07-19). "State issues request for apartments, not offices, at Hudson Yards site". The Real Deal. Archived from the original on 2023-07-22. Retrieved 2024-09-29.
24. Brenzel, Kathryn (24 March 2022). "Civil Rights Museum to Move to Don Peebles' Affirmation Tower". The Real Deal.
25. Schubarth, Catherine (February 8, 2022). "Don Peebles calls affordable housing 'absurd' for 11th Avenue site". The Real Deal. Retrieved April 12, 2025.
26. Rago, Gordon (October 12, 2022). "Long-awaited $683 million Brooklyn Village project on track to start by early next year". Charlotte Observer .
27. Pascus, Brian (2023-08-10). "Stonehill Provides Peebles Corp. With $23.75M Construction Loan". Commercial Observer. Archived from the original on 2023-08-11. Retrieved 2024-02-15.
28. Sands, Alexandria (2025-02-05). "Brooklyn Village's new plan calls for 250 affordable housing units". Axios. Retrieved 2025-05-13.
29. Adelman, Jacob (2020-11-24). "Philly undoes deal with developer Peebles to revamp historic Family Court building into luxury hotel". inquirer.com. Retrieved 2024-02-15.
30. "Investigation Regarding the Selection of Aqueduct Entertainment Group to Operate a Video Lottery Terminal Facility at Aqueduct Racetrack" (PDF). October 2010.
31. Bagli, Charles V. (21 October 2010). "Report Criticizes Senators on Casino in Queens". The New York Times .
32. Johnson, Stephon (2013-05-23). "Aqueduct Gamble". New York Amsterdam News. Archived from the original on 22 October 2022.
33. "Queens Councilmembers Back Peebles/MGM Aqueduct Bid". the Wave. 29 January 2010. Archived from the original on 19 October 2022.
34. Neibauer, Michael (July 31, 2015). "Here's the Peebles plan for a hotel-apartment house in Mount Vernon Triangle". Washington Business Journal.
35. Fischer, Ben (November 10, 2010). "D.C. sues Peebles' company; UPDATED". Washington Business Journal.
36. Neibauer, Michael (November 20, 2012). "D.C. settles civil case against partnership co-led by R. Donahue Peebles". Washington Business Journal.
37. Peters, Ben (2025-03-25). "Fifth and Eye dispute between Peebles, D.C. may be headed to a jury trial with $72M on the line". www.bizjournals.com. Archived from the original on 2025-03-03. Retrieved 2025-05-04.
38. "PEEBLES' PLAN TO BUILD HOTEL LOSES SUPPORT". Sun Sentinel. 21 March 2001.
39. Hanks III, Douglas (2004-07-19). "Donahue Peebles Rose to Prominence in South Florida as the Country's First Black Developer of a Major Convention Hotel; Peebles Says He's Tired of that Distinction". The Miami Herald. Hotel Online. Archived from the original on 2022-10-19.
40. "Determination of Appeal - SF- 20140322" (PDF). STATE OF NEW YORK - OFFICE OF THE STATE COMPTROLLER. 2014-10-28. Archived (PDF) from the original on 2022-10-19. Retrieved 2023-01-17.
41. https://www.suny.edu/suny-news/press-releases/may-2014/5-28-14-lich/statement-from-communications-director-david-doyle.html
42. "Developer selected for $330 million Back Bay project - The Boston Globe". BostonGlobe.com. Archived from the original on 2023-01-17. Retrieved 2017-12-27.
43. "Parcel 13 | Boston Planning & Development Agency". www.bostonplans.org. Retrieved 2024-05-04.
44. Fleming, Sibley (7 May 2019). "Real Estate Gives Back: Don Peebles Champions Economic Equality". Commercial Property Executive.
45. Uribe, Isabella (17 February 2023). "Prostate Cancer Foundation - Palm Beach Gala Dinner". Resident Magazine.
46. Prosser, Gregory (21 June 2019). "Don Peebles $500M Diversity Fund For Minority Developers". The Real Deal .
47. Brenzel, Kathryn (July 16, 2020). "Don Peebles to Launch $500M Fund By End of Year". The Real Deal New York. Archived from the original on April 9, 2021. Retrieved February 19, 2021.
48. Brenzel, Kathryn (2021-01-18). "Don Peebles Says Commercial Real Estate Must Address Lack of Diversity". The Real Deal South Florida. Retrieved 2023-01-17.
49. Brenzel, Kathryn (27 August 2021). ""Hardest project in my career to capitalize": Diversity fund proves tough test for Peebles". the Real Deal. Archived from the original on 24 October 2022. Retrieved 17 January 2023.

External links

• Official website