Peebles Corporation

Peebles Corporation is a privately held real estate investment and development company founded in 1983 by R. Donahue Peebles. The company is headquartered in Miami Beach and has maintained offices or operations in New York City and Washington, D.C. Its business spans residential, hospitality, retail, office, and mixed-use real estate, with a particular emphasis on large urban projects and public-private partnerships. The company began in Washington, D.C., where it obtained the rights in 1986 to develop a 100,000-square-foot office building at 2100 Martin Luther King Jr. Avenue SE in Anacostia. Completed in 1989, the project established Peebles as a developer of commercial property in underserved or changing urban neighborhoods. During the 1990s, the company expanded its Washington portfolio through acquisitions and development sites, including 10 G Street NE and the Courtyard by Marriott Convention Center Hotel, its first hotel acquisition. Peebles subsequently became active in South Florida hospitality and residential development. In 1996, it won the development rights for Miami Beach's Royal Palm Hotel and expanded the property through the acquisition of the neighboring Shorecrest Hotel. The resulting Royal Palm Resort included two new 17-story towers and 422 rooms when completed in 2002. It was described in contemporary accounts as the first luxury resort in the United States owned by a Black developer. Peebles sold the resort in 2005 and later regained management control and a minority ownership interest before the property was sold at a foreclosure auction in 2010. Another major Miami Beach project was The Bath Club. Peebles acquired the historic private beach club in 1998, expanded the site with the Residences at Bath Club and six oceanfront villas, and invested in a renovation of the club. The residential expansion opened in 2005, while the renovated club reopened in 2021. The property has particular historical significance because the club had previously excluded Black, Jewish, and Hispanic people; Peebles became its first Black member in 1996 before later acquiring it. The corporation has also pursued major developments outside its established markets. In Manhattan, Peebles and El-Ad Group acquired the former New York Life Insurance headquarters at 108 Leonard through a New York City public request-for-proposals process in 2013. The approximately 400,000-square-foot redevelopment converted the landmark property into condominiums, with initial sales beginning in 2018. In Los Angeles, Peebles participated in Angels Landing Partners, a proposed $1.2 billion redevelopment of the Bunker Hill site involving residential, hotel, retail, and public or communal areas. The city ended the development agreement in 2024, and Peebles and a partner sued the city in 2025 over the termination. The company has also proposed projects in Charlotte, New York, and other locations. Its Brooklyn Village plan in Uptown Charlotte was selected in 2015 and later received Phase 1 funding commitments in 2023, although subsequent plans added more affordable housing and construction timing changed. In New York, Peebles submitted the Affirmation Tower proposal in 2021, envisioning a major mixed-use skyscraper. The solicitation was canceled after a change in New York state administration. Beyond property development, Peebles has promoted economic inclusion and support for emerging developers. It founded the Entrepreneurship Academy at Hospitality High School in Washington, D.C., in 1998, supported the development of CARE Elementary in Miami, and has worked with the Milken Institute on initiatives associated with the Prostate Cancer Foundation and global leadership. In 2019, the company launched the Peebles Emerging Developer Fund, initially described as a $500 million vehicle intended to invest in women- and minority-owned development firms in New York, Los Angeles, and South Florida. Fundraising proved difficult, particularly among public pension investors, and the target was later discussed as approximately $450 million. Peebles remains principally identified with urban real estate development, inclusive capital formation, and public-private development initiatives.

Peebles Corporation was established in 1983 by R. Donahue Peebles and initially built its business in Washington, D.C. Its first development was an office building at 2100 Martin Luther King Jr. Avenue SE in Anacostia. Peebles secured development rights in 1986, and the 100,000-square-foot project was completed in 1989. During the following decade, the company acquired additional commercial buildings and development sites in the District, including 10 G Street NE and the Courtyard by Marriott Convention Center Hotel. The Courtyard represented Peebles' entry into hotel ownership and acquisition. The company expanded into Miami Beach in the 1990s. In 1996, it won the rights to develop the Royal Palm Hotel. It subsequently acquired the adjacent Shorecrest Hotel and created an expanded resort with two new 17-story towers. The 422-room Royal Palm Resort was completed in 2002 and became a prominent example of Black-owned luxury hospitality development. Peebles sold the property in 2005, later returning as manager with a 12.5 percent ownership stake. Sunstone Hotel Investors acquired the hotel at a foreclosure auction in 2010. In 1998, Peebles acquired The Bath Club, a historic Miami Beach private club. The property had historically excluded Black, Jewish, and Hispanic people. Peebles had become the club's first Black member in 1996, before eventually acquiring it. The company developed the Residences at Bath Club, including a 20-story tower that opened in 2005, as well as six oceanfront villas. It also invested approximately $8 million in renovating the club, which reopened in 2021. Peebles pursued several ambitious projects in the 2000s and 2010s. It bought the 87-acre Pacifica's Rockaway Quarry in 2005 for a proposed mixed-use project containing housing, hotel, and retail uses. Voters rejected the project in 2006, and the site was subsequently offered for sale. In 2010, the company formed a partnership with MGM Grand and Harbinger Capital to bid for a gaming project at Aqueduct Racetrack, but the award went to Aqueduct Entertainment Group. In 2013, Peebles and El-Ad Group acquired the former New York Life Insurance headquarters at 108 Leonard in Manhattan through a New York City public request-for-proposals process. The transaction was reported as the most expensive property sale by the city at that time. The partners pursued a roughly 400,000-square-foot condominium redevelopment, and the first units entered sales in 2018 after legal and scheduling difficulties. The company was selected in 2015 to develop Brooklyn Village in Uptown Charlotte. The project later received Phase 1 funding support from Stonehill Strategic Partners in 2023. Plans were revised in 2025 to add more affordable housing, but the construction schedule was delayed. The provided reference material reports that the property deed was transferred to Peachtree Group in lieu of foreclosure in 2026. Peebles also joined the Angels Landing Partners team, which was approved in 2017 to pursue a major redevelopment of Los Angeles' Bunker Hill. The proposed project was valued at approximately $1.2 billion and included residential, hotel, retail, and shared public spaces in two towers. Los Angeles terminated the agreement in 2024. Peebles and MacFarlane brought a lawsuit in 2025 seeking recovery of approximately $20 million and alleging that the termination was unlawful. In New York, the company submitted the Affirmation Tower proposal in 2021. The concept was presented as a very tall mixed-use tower and was described as potentially the tallest proposed building in the Western Hemisphere. The state canceled the relevant solicitations during an administrative transition, ending the procurement process. Community investment and economic inclusion have been recurring parts of Peebles' public profile. The company founded the Entrepreneurship Academy at Hospitality High School in Washington, D.C., in 1998 and helped build CARE Elementary in an underserved Miami neighborhood. It has also worked with the Milken Institute on initiatives connected to the Prostate Cancer Foundation and global leadership. In 2019, it launched the Peebles Emerging Developer Fund to support women and minority developers in several major U.S. markets. Fundraising encountered resistance from public pension investors, and the fund's stated target was later reduced from $500 million to approximately $450 million. The company continues to operate as a privately held real estate developer and investment platform led by its founder.

• 2024

  Angels Landing agreement terminated

  [1]Peebles Corporationen.wikipedia.org

  Los Angeles ended its agreement with the Angels Landing development partnership.

• 2021

  Bath Club reopened

  [1]Peebles Corporationen.wikipedia.org

  The renovated Bath Club reopened in Miami Beach.

• 2019

  Emerging Developer Fund launched

  [1]Peebles Corporationen.wikipedia.org

  Peebles launched a fund designed to invest in women and minority developers.

• 2017

  Angels Landing partnership approved

  [1]Peebles Corporationen.wikipedia.org

  Angels Landing Partners received approval to pursue the Bunker Hill redevelopment in Los Angeles.

• 2015

  Brooklyn Village selected

  [1]Peebles Corporationen.wikipedia.org

  Peebles was selected to develop Brooklyn Village in Uptown Charlotte.

• 2013

  108 Leonard acquired

  [1]Peebles Corporationen.wikipedia.org

  Peebles and El-Ad Group acquired the former New York Life Insurance headquarters in Manhattan.

• 2005

  Major property expansion and sale

  [1]Peebles Corporationen.wikipedia.org

  The Residences at Bath Club opened, and Peebles sold the Royal Palm Resort.

• 2002

  Royal Palm Resort completed

  [1]Peebles Corporationen.wikipedia.org

  The expanded 422-room Royal Palm Resort opened after the addition of two towers.

• 1998

  Bath Club acquired

  [1]Peebles Corporationen.wikipedia.org

  Peebles acquired The Bath Club in Miami Beach and founded the Entrepreneurship Academy at Hospitality High School in Washington, D.C.

• 1996

  Royal Palm development rights awarded

  [1]Peebles Corporationen.wikipedia.org

  Peebles won development rights for the Royal Palm Hotel in Miami Beach.

• 1989

  First project completed

  [1]Peebles Corporationen.wikipedia.org

  The Anacostia office building at 2100 Martin Luther King Jr. Avenue SE was completed.

• 1986

  First development rights obtained

  [1]Peebles Corporationen.wikipedia.org

  Peebles obtained rights to develop a 100,000-square-foot office building in Anacostia, Washington, D.C.

• 1983

  Company founded

  [1]Peebles Corporationen.wikipedia.org

  R. Donahue Peebles founded Peebles Corporation.

An urban real estate investment and development company combining luxury and mixed-use development with public-private partnerships, historic-property redevelopment, and a stated focus on expanding opportunities for women and minority developers.

• Hospitality · 2002

  Royal Palm Resort

  A Miami Beach resort created through the redevelopment and expansion of the Royal Palm and Shorecrest hotels. The completed property contained 422 rooms and two new 17-story towers. It became a signature Peebles hospitality project and was presented as the first luxury resort in the United States owned by a Black developer.

• Hospitality and residential · 1998

  The Bath Club

  A historic private beach club in Miami Beach acquired by Peebles in 1998. The company expanded the property with the Residences at Bath Club, a 20-story residential tower and six oceanfront villas, and renovated the club itself. The club reopened after renovation in 2021.

• Residential redevelopment · 2013

  108 Leonard

  A redevelopment of the former New York Life Insurance headquarters in Manhattan undertaken with El-Ad Group. The approximately 400,000-square-foot project converted the historic office property into condominiums, with the first units sold in 2018.

• Mixed-use development · 2015

  Brooklyn Village

  A proposed mixed-use development in Uptown Charlotte. Peebles was selected in 2015 and later secured Phase 1 funding support. Plans were revised to include more affordable housing, but the project encountered construction delays and the provided reference material reports a deed transfer in lieu of foreclosure in 2026.

• Mixed-use development · 2017

  Angels Landing

  A proposed Bunker Hill redevelopment in downtown Los Angeles involving residential, hotel, retail, and communal spaces in two towers. The estimated project value was approximately $1.2 billion. The city terminated the development agreement in 2024, and litigation followed.

• Mixed-use development proposal · 2021

  Affirmation Tower

  A proposed New York mixed-use tower submitted through a state request-for-proposals process in 2021. The concept was promoted as potentially the tallest proposed tower in the Western Hemisphere, but the state canceled the solicitation during an administrative transition.

• Real estate investment fund · 2019

  Peebles Emerging Developer Fund

  An investment initiative launched to provide capital to women and minority developers operating in New York, Los Angeles, and South Florida. It was initially associated with a $500 million target, later discussed at approximately $450 million, and faced fundraising challenges involving public pension investors.

• 2019Peebles Emerging Developer Fund

  New York · Los Angeles · South Florida

  Peebles launched an investment initiative intended to expand access to real estate capital for women and minority developers.

  Outcome. The initiative continued seeking investors but encountered difficulty raising capital from public employment pension funds; its stated target was later reduced from $500 million to approximately $450 million.

  Source
• 1998Entrepreneurship Academy

  Washington, D.C.

  Peebles founded an entrepreneurship-focused academy at Hospitality High School as part of its community involvement in Washington, D.C.

  Outcome. The academy became part of the company's stated education and community-development activities.

  Source

• 2024

  Challenged termination of Angels Landing agreementOther

  Background

  Los Angeles terminated the agreement with the Angels Landing development partnership.

  Action taken

  Peebles and MacFarlane filed a lawsuit against the city, alleging unlawful termination and seeking recovery of approximately $20 million in invested costs.

  Aftermath

  The dispute moved into litigation; the provided material does not establish a final outcome.

  Reported invested costs sought in litigation. $20 million (2025)

  Source

• 2021

  Submitted Affirmation Tower proposalStrategy

  Background

  Peebles pursued a major mixed-use tower opportunity through a New York State solicitation.

  Action taken

  The company submitted the Affirmation Tower proposal.

  Aftermath

  The state canceled all project solicitations during an administration change, ending the procurement process.

  Source

• 2010

  Entered Aqueduct gaming-development bidOther

  Background

  Peebles sought to diversify into gaming and entertainment development at Aqueduct Racetrack.

  Action taken

  The company formed a joint venture with MGM Grand and Harbinger Capital to bid for the project.

  Aftermath

  The development award went to Aqueduct Entertainment Group instead.

  Source

• 2005

  Sold Royal Palm ResortStrategy

  Background

  After completing the expanded Royal Palm Resort in Miami Beach, Peebles changed its ownership position in the property.

  Action taken

  The company sold the resort while later returning to a management role and retaining a minority stake before the property was sold at foreclosure auction in 2010.

  Aftermath

  Peebles' ownership and management relationship with the resort changed several times before Sunstone Hotel Investors acquired it in 2010.

  Source

1. 1Peebles Corporationen.wikipedia.org