Article from bizjournals.com: NCRC boosts street cred with Texas hires
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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
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 (
), confirmed Noteware's hiring and says he is pleased with Noteware's
depth of experience.
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
"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
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.
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