72. The Neighborhood Development Co. - Black Enterprise

72. The Neighborhood Development Co.

The Neighborhood Development Co. is the second largest minority-owned real estate development firm in the Mid-Atlantic region. Since its inception in 1999, the Neighborhood Development Company has built over 350,000 square feet of commercial and residential properties.

The Washington, DC-based company specializes in refurbishing urban neighborhoods in the Columbia Heights, Mt. Vernon, and Petworth neighborhoods.

Today, the company has $50 million in investments to support the redevelopment of 170,000 square feet of property. Current projects include CityVista, a $220 million mixed-use property located in the Mount Vernon Triangle area,  and the Lower Georgia Avenue Job Training Center, a 15,324-square-foot facility located in the Petworth area, among others.

In 2008, the company earned $60.2 million in revenues–up 7.5% from the previous year.