JGB Companies Named 'Developer of the Year'
The Chevy Chase-based company received the award from NAIOP, the Commercial Real Estate Development Association.
Chevy Chase-based developer JBG Companies was recently named "Developer of the Year" by NAIOP, the Commercial Real Estate Development Association, Bloomburg.com reported.
JBG "invests almost exclusively in urban-infill, transit-oriented developments," Bloomburg.com added.
"JBG's position as an industry leader is evidenced by its ability to develop and manage many product types, from residential to retail to hotels and large government buildings. ... NAIOP is proud to recognize JBG for its outstanding projects and its ability to maintain its core business, while incorporating other strategies, such as sustainability, into its developments," Thomas J. Bisacquino—NAIOP president and CEO—said, Bloomburg.com reported.
JBG is a co-developer, along with ROSS Development and Investment and the CIM Group, of a 16-story residential tower planned for the corner of Norfolk and Fairmont avenues that could break ground in 18 months, Bethesda Patch reported.
The development "is expected to bring about 166 apartments and 14,000 square feet of retail to 4900 Fairmont Avenue, pending approvals at the Maryland-National Capital Park and Planning Commission. The project will take over the space currently occupied by Foong Lin Restaurant and Lulu Florist," Charlie Maier, a public relations representative for the project, told Bethesda Patch.