In 1996, The Beacon Companies and the Corcoran Jennison Companies, two well-established Boston-based real estate development companies, joined together to form Beacon/ Corcoran Jennison Partners LLC (B/CJ). B/CJ specializes in the revitalization of neighborhoods into desirable and affordable mixed income communities. The B/CJ partnership provides extensive experience in planning, design, development, community organization, social services, construction, finance and property management.
For over thirty years, the principals of B/CJ have devoted themselves to converting these neighborhoods into thriving communities in which residents choose to live. With a combined portfolio of over 24,000 apartments, all of which are in excellent physical and financial condition, B/CJ demonstrates their on-going commitment to providing quality housing that works for everyone-residents, neighbors, lenders and investors. And, these communities continue to work five, ten and even twenty years later. The Beacon and Corcoran Jennison Companies have an exceptional record of sustaining healthy communities throughout recessions, neighborhood turmoil, and changes in the economy.
Both The Beacon and Corcoran Jennison Companies share a value system reflected in their long-standing commitment to residents and urban redevelopment. This joint venture brings together the significant organizational strength and experience necessary to successfully develop neighborhoods and communities, an effort that reaches far beyond the construction of new buildings.
B/CJ, The Beacon and Corcoran Jennison Companies presently own and manage multi-family housing in Massachusetts, Connecticut, New York, Pennsylvania, Virginia, Maryland, New Hampshire, Rhode Island, North Carolina and South Carolina.
The Beacon Companies
Founded in 1946 by Norman Leventhal and his deceased brother Robert Leventhal, The Beacon Companies provide construction, development and management services in the residential, office and hospitality markets. The Beacon Companies is recognized for its business vision, development standards and commitment to an ownership ethic of real estate as an enduring investment. From its commercial joint ventures with the country's largest pension and endowment managers and insurance companies, to its tax-motivated programs for housing development, Beacon demonstrates the ability to utilize the most sophisticated approaches to raising capital for its ventures. The Beacon Companies' track record in attracting responsible capital is unsurpassed in the industry.
Beacon Residential Properties is the residential development division of The Beacon Companies. The mission of BRP is to develop multi-family and single family residences, primarily in urban areas and to provide active asset management to Beacon's existing portfolio of over 6,700 units. Beacon Residential Management (BRM) manages over 6,700 units of market-rate and affordable multi-family housing in twelve cities and seven states. Approximately 6,000 of these units are owned by partnerships affiliated with BRM and 700 are owned by third parties. Properties range in size from 46 units to near 1,000 units, and in age from new construction to 27 years old. The current development portfolio is approximately 3,000 residences and exceeds $350,000,000 in development value. Some of their noteworthy contributions to the Boston city scape are: One Post Office Square & the Hotel Meridien, Rowes Wharf, South Station, 75 State Street, Center Plaza at Government Center.
The Corcoran Jennison Companies
Through their companies, Corcoran and Jennison have provided real estate development, construction, asset management and property managementservices since 1971. The companies' portfolio includes over 20,000 apartments and over ten million square feet of commercial space including exposition centers, hotel and resort developments. The Corcoran and Jennison companies properties are located in 16 states, include new construction and revitalized communities valued in excess of $1,000,000,000.
Known as a pioneer in the development of mixed income housing involving the use of governmental assistance programs, Corcoran and Jennison with their partners were the first in the nation to manager private mixed income housing. Today, through their companies, they successfully operate over 5,000 mixed income communities.
In addition, Corcoran Jennison incorporates as a key component to its management strategy "resident services". Resident Services such as job creation through construction and management opportunities and activities designed to serve the demographic profile of each community are an integral part of redevelopment process in creating successful residential communities.
Corcoran Jennison recently received the distinguished "Development Company of the Year" award from the National Association of Home Builders and has been a past recipient of NAHB's "Management Company of the Year" award.
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