Quadrangle Development Corporation Explained

Quadrangle Development Corporation
Type:	Privately-held company
Location:	Washington, D.C.
Area Served:	Mid-Atlantic U.S.
Key People:	Christopher Gladstone, President
Industry:	Real estate development
Products:	Hotels, resorts, residences
Num Employees:	180^[1]
Revenue:	$81 million (2011 est.)
Homepage:	quadrangledevcorp.com

Quadrangle Development Corporation is a privately held, vertically integrated real estate development company based in Washington, D.C., in the United States. By 2002, it was one of the largest real estate developers in the Washington, D.C., metropolitan area.^[2] As of April 2011, the company owned 83 properties (consisting of apartment buildings, condominiums, hotels, and office buildings) totaling 22000000square feet and worth $8.4 billion.^[3]

History

Quadrangle Development Corporation was founded in 1971 by Robert Gladstone and James R. Crozier. The company originally focused on constructing apartment complexes, but after a few years began erecting office buildings and hotels.

Among the many projects which Quadrangle Development Corporation has been involved in are:

• The JW Marriott Hotel Washington in 1979.^[4]
• The Shops at National Place and the National Theatre, which were part of the redevelopment of Pennsylvania Avenue NW in the late 1970s and the early 1980s.^[5]
• The Grand Hyatt Washington in 1987.^[6]
• The Washington Center Office office building at 1001 G Street NW in 1989.^[7]
• Hyatt Regency Chesapeake Bay Golf Resort, Spa & Marina near Annapolis, Maryland, in 2001. This site includes the River Marsh Golf Course.
• MedImmune Inc. headquarters in Gaithersburg, Maryland, in 2003.
• The Hilton Baltimore in 2008.^[8]
• Towers Crescent mixed-use development at Tysons Corner, Virginia, in 2009.^[9]
• Mount Vernon Place, a mixed-use development at Mount Vernon Triangle in Washington, D.C. (under construction as of October 2012).^[10]
• Washington Marriott Marquis, an 1,175-room "headquarters hotel" next to the Walter E. Washington Convention Center in Washington, D.C. (Opened May 1, 2014).^[11]

In December 2014, Chairman Robert Gladstone died at his home in Washington, D.C.^[12]

External links

• Quadrangle Development Corporation official Web site

Notes and References

1. http://www.insideview.com/directory/quadrangle-development-corporation "Quadrangle Development Corporation." InsideView.com. 2013.
2. "Washington Real Estate Developer James Crozier." Washington Post. July 20, 2002.
3. "Quadrangle's National Place Office Building Achieves USGBC's LEED Gold Certification for Existing Buildings." Press release. U.S. Green Building Council. April 25, 2011.
4. Brown, Merrill. "Marriott Celebrates Hotel Expansion." Washington Post. September 29, 1979.
5. Knight, Jerry. "2 Firms Win Project on the Avenue." Washington Post. October 26, 1978; Lardner, James. "The National Theatre's New Horizons." Washington Post. September 23, 1979; "PADC's Biggest Project Starts at 14th and Pa." Washington Post. May 22, 1981; Swallow, Wendy. "Major Share Of National Place Sold." Washington Post. September 1, 1984.
6. Walsh, Sharon Warren. "The Hyatt Gets Ready." Washington Post. June 8, 1987.
7. https://www.washingtonpost.com/wp-dyn/articles/A18835-2004Nov28.html Hedgpeth, Dana. "Bob Gladstone Weighs In on Baseball, Redevelopment." Washington Post. November 29, 2004.
8. http://www.bizjournals.com/washington/stories/2002/11/11/daily33.html Reed, Keith T. "Developers Preview Baltimore Convention HQ Hotel." Washington Business Journal. November 13, 2002.
9. http://www.bizjournals.com/washington/stories/2007/11/26/daily32.html Coombs, Joe. "Towers Crescent Starts to Grow." Washington Business Journal. November 29, 2007.
10. Wilgoren, Debbi. "Barren Tract in District Set for Redevelopment." Washington Post. March 28, 2004; Hedgpeth, Dana. "Mt. Vernon Triangle Edges Upward." Washington Post. April 3, 2006; "Quadrangle's Mount Vernon Place Gets Permit for Mixed-Use." Washington Business Journal. October 29, 2012, accessed 2013-01-07.
11. Craig, Tim. "Plan Limits Public Funding Of Convention Center Hotel." Washington Post. June 19, 2009; Rein, Lisa. "D.C. Council's OK May Finally Launch Long-Delayed Convention Center Hotel." Washington Post. August 2, 2009; Rein, Lisa. "Convention Center Still Waits for Hotel." Washington Post. January 18, 2010; O'Connell, Jonathan. "Deal Reached on Convention Center Hotel." Washington Post. July 7, 2010; Kravitz, Derek. "Convention Center Hotel Begins to See Light of Day." Washington Post. November 11, 2010; O'Connell, Jonathan. "D.C. Is Asked to Help Finance Two Hotels." Washington Post. September 19, 2011.
12. News: Quadrangle Development Corp. founder Robert Gladstone dies. Nycz-Conner. Jennifer. Washington Business Journal. January 5, 2015. January 5, 2015. none.

    News: Robert Gladstone. The Washington Post. January 1, 2015.