Peebles Corporation


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.

History

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

Developments

Select developments

  • 2100 Martin Luther King Jr. Avenue SE - 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. 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.
  • 10 G Street NE - The Peebles Corporation co-developed this 280,000-square-foot Class A office building located in Washington, DC's NoMa neighborhood.
  • Courtyard by Marriott Convention Center Hotel - 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.
  • Royal Palm Hotel - 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. 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. 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. The property entered receivership in 2010 and was sold at foreclosure auction to Sunstone Hotel Investors Inc. for $126.1 million.
  • Residences at The Bath Club - 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.
  • The Historic Bath Club - 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.
  • 108 Leonard / 346 Broadway - 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.

    Cancelled, rescinded, or delayed projects

Several high profile projects have stalled or been rescinded, despite receiving media attention.
  • Affirmation Tower - The Peebles Corporation submitted an RFP to the City of New York to build the tallest building in the Western Hemisphere. 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. 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.
  • Brooklyn Village - After a 2015 RFP process, Mecklenburg County selected The Peebles Corporation to develop Brooklyn Village. The Peebles Corporation secured funding from Stonehill Strategic Partners for Phase 1 of the development in August 2023. 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.
  • 1801 Vine Street - 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".
  • Aqueduct Casino - 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. 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.
  • 5th & I - 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; 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. 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.
  • Broward County Convention Center Hotel - 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.
  • Long Island Community Hospital - 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. SUNY ended negotiations with The Peebles Corporation for Long Island College Hospital after Peebles' proposal for a cost-sharing agreement on environmental remediation and potential delays in restarting healthcare services diverged from SUNY's initial plan.
  • Viola Back Bay - 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. As of May 2023, the project was under review with Boston Planning & Development Agency.

    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.
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. 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. As of 2022, the fund is raising capital to its new target, $450 million.