The government owns the largest real estates and properties in different parts of the nation. It contracts private companies to develop some of its properties. The government hires professionals in the real estate industry as well to oversee the activities of private developers. Real estate developers will agree that government projects are not as easy and straightforward as private projects. Public projects are complex and require proper planning, experience, and good planning. The projects required environmental and social consideration.
Real estate companies compete for public projects because of their high returns. However, given the complexities and dynamic regulations in awarding contracts, established companies win most of the contracts. Washington DC has some of the best environmental friendly buildings in the country. Private companies designed and constructed some of these buildings. Private developers have changed the District’s outlook by developing new modern structures and redeveloping old buildings. Some of the companies that have shaped the District’s landscape are discussed below.
Franklin L. Haney Company
The Franklin Haney Company is a family-owned business based in Washington DC. The company was established in 1967 and is among the leading real estate and property developers in the country. The Company’s leading marketing place is the Washington metropolitan area where it has developed over a million square feet of office space. Government contracts have largely contributed to the success of the Franklin Haney Company.
The Bozzuto Group
The construction company was established in 1988. The Bozzuto Group specializes in developing residential houses and has developed more than 40,000 apartments since it was established. However, part of the company’s success comes from government real estate projects. The Company developed residential houses for students in public universities including the University of Baltimore.
PN Hoffman and Associates
This is one of the leading real estate companies in Washington DC. The company is among the premier developers of mixed-use transformation projects and urban residential houses in the District. The company was established in 1993 and has completed more than 35 private and projects. Some of the company’s projects include office space and retail projects. PN Hoffman and Associates developed the first LEED certified residential high-rise in Washington DC.
The real estate companies outlined above are a few of the private companies that have transformed the landscape of the District. Other companies that the government contracts for its construction projects include Peterson Companies and Douglas development. The companies have transformed the quality of life for urban communities with their private and public projects.