Peebles Atlantic Development Corp. leads the nation as one of the top real estate developers while it works to preserve the history and culture of a community.

Amid the getaways that lure tourists to Florida are luxurious hotels and real estate developments known not just for their location and backdrop, but also for the premier builders that have made the state's growth possible. Among them is the Peebles Atlantic Development Corp. (PADC), which calls itself one of the nation's top developers of commercial and residential real estate projects. In January, the company says, it changed its name to Peebles Corp. to reflect its growth.

Headquartered in Miami, PADC is the largest African-American developer and owner of hotels, condominiums and commercial properties in the nation. "Peebles Atlantic remains committed to obtaining the most desirable site locations for its projects," the company says. It notes that it targets a market where people look for the quality of a product, rather than its quantity. With an operating philosophy of "building for the future while respecting the rich architectural and community traditions of the past," PADC says it has worked on several historic buildings in Florida and elsewhere.

PADC has distinctive properties in Washington, D.C., Miami and Detroit, and recently closed a deal on about 90 oceanfront acres in Pacifica, Calif.

"[This purchase] is a significant step for PADC and further exemplifies [its] goal of establishing a major presence in the West Coast," Don Peebles, president and CEO of the company, said in a statement. Peebles says that he will work closely with the California Coastal Commission, Environmental Protection Agency, local government officials and local residents to develop a project with "extremely low density, and the residential units extremely exclusive and the hotel five-star."

PADC's other projects have included the Royal Palm on South Beach, a two, 16-story tower combination of the Royal Palm and Shorecrest hotels; 188-room Courtyard by Marriott Convention Center in Washington, D.C.; and 10 G Street N.E., also in Washington, D.C., a $54 million-dollar project with the Trammell Crow Co. that houses the headquarters for the American Psychological Association. PADC has also been selected to renovate the Lafayette Building in downtown Detroit. Built in 1924, the Lafayette was an office complex and was said to be vacant for more than a decade.

PADC says it is planning to turn the building into a $40 million, 110-unit luxury condominium complex, offering units with one to three bedrooms, a kitchen and upscale bathrooms. PADC says the renovation is expected to take 18 months.

Preserving History
PADC says it is known for restoring and developing prominent historical properties. For example, the company recently acquired the 5.5-acre Miami Beach property known as The Residences at The Bath Club. Founded in 1926, the Bath Club was the Southeast's first private bathing and social club; it included members such as former President Herbert Hoover and John Knight of Knight-Ridder. The $225 million residential project features 107 new tower residences and six new oceanfront villas. "The rebirth of the ultra-luxury property includes the renovation of the historic club, which returns to its former grandeur and serves as the social hub for the Bath Club's members and new residents," PADC says.

The residents of today's Bath Club, PADC notes, enjoy the world-famous attractions and international airports nearby. The Bath Club, located in the famous Millionaire's Row, is known as one of south Florida's elite residences.

According to the company, it also participates in community services. "PADC does much more than construct and manage real estate properties," the company states. "It's also dedicated to being a good corporate citizen while simultaneously establishing a framework for economic equality." Peebles sponsors a Reading is Fundamental program for middle school students, and also regularly serves to motivate Miami teenagers.

Small Beginnings
Before the company's accelerating success as a large property developer, PADC says it started as a small real estate firm.

It then began a commercial tax assessment firm in Washington, D.C., before taking PADC to Miami.

"At that time, Peebles expanded PADC's realm of development activities by creating a hospitality division dedicated to the development and ownership of premiere hotel properties and a luxury residential division dedicated to the development of high-end condominium properties," the company explains.

PADC says that although the company currently has a real estate portfolio that is worth nearly half-a-billion dollars, its management staff remains small.

"This enables Peebles Atlantic to respond quickly when business opportunities arise within the fast-moving real estate marketplace," PADC says.

The company created two subsidiary units to help PADC with business activities. PADC Marketing LLC was founded in 2002 and is responsible for handling sales and marketing for PADC's high-end residential properties.

Developers Management Inc., on the other hand, is currently the project manager for Miami International Airport's multibillion-dollar expansion.