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Article from bizjournals.com: NCRC boosts street cred with Texas hires

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    Hello from bizjournals.com! David McIntire (mail@innercity.org) thought you might like the following article from the Washington Business Journal: NCRC boosts
    Message 1 of 1 , Oct 31, 2003
      Hello from bizjournals.com! David McIntire (mail@...) thought you
      might like the following article from the Washington Business Journal:


      NCRC boosts street cred with Texas hires


      Sean Madigan Staff Reporter
      Published: October 27, 2003
      ------------------------------------------------------------
      The National Capital Revitalization Corp. is beefing up its real estate
      IQ.

      The D.C.-sponsored economic development agency has hired James Noteware,
      chairman and CEO of Houston-based Maxxam Property, to head its real
      estate development operations. A Dallas consultant also will be brought
      on to help with economic development goals.

      Noteware will oversee NCRC's massive property portfolio, worth hundreds
      of millions of dollars, as well as the organization's development
      pipeline, which includes a number of high-profile projects in Columbia
      Heights, Southwest and parts of downtown.

      NCRC created the position and hired a search firm to vet candidates from
      across the country. Noteware, who has 25 years of real estate
      experience, also was once head of real estate advisory services for the
      former Price Waterhouse and served as chairman of Houston's branch of
      the Urban Land Institute.

      Noteware could not be reached for comment.

      Ted Carter, chief executive of NCRC (

      www.ncrcdc.com

      ), confirmed Noteware's hiring and says he is pleased with Noteware's
      depth of experience.

      Critics quelled

      Carter, who has been bullish about getting results since he took the
      organization's helm at the beginning of the year, put together a lengthy
      to-do list for NCRC. Hiring a real estate pro was one of his top
      priorities.

      "I promised I would hire someone of this caliber," Carter says.

      The appointment not only is a check on Carter's to-do list but also may
      quiet some real estate executives who complain that NCRC, although its
      core mission is to redevelop the city's underutilized properties, is
      light on real estate development experience. Carter himself does not
      come from a real estate background.

      Few are willing to air their complaints publicly, however, because
      almost everyone in the region does business with NCRC or would consider
      dealing with the organization in the future.

      NCRC (www.ncrcdc.com) still is vetting bids to redevelop the former
      downtown wax museum site. It also is heavily involved with redevelopment
      of Columbia Heights. And it controls much of the property in the planned
      redevelopment of the Southwest waterfront.

      In addition, NCRC has bought property on Georgia Avenue and is planning
      to lead the redevelopment of the Skyland Shopping Center in Southeast.

      More to do

      While NCRC's principle mission is real estate, turning the organization
      into an economic development entity also was at the top of Carter's
      list.

      Toward that goal, Carter confirms he has hired Anthony Freeman, a
      Dallas-based business development consultant, to serve as NCRC's vice
      president for business development.

      Freeman, a former Blockbuster executive, is charged with leading NCRC's
      retail and venture capital initiatives as well as small business
      development efforts. He could not be reached for comment.

      Freeman also was selected through a national search and will start the
      newly created position in November along with Noteware.



      Copyright(c) American City Business Journals Inc. All rights reserved.

      You can view this article on the web at:
      http://washington.bizjournals.com/washington/stories/2003/10/27/story5.html
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