Kettler Readies $1B-Plus Development Pipeline

McLEAN, VA-Local developer Kettler has more than $1 billion worth of multifamily and mixed-use projects planned for the Greater Washington, DC area in 2008. The plan is a similar level from this year’s activities, but with a few adjustments to meet new market realities, according to John Chappelear, senior vice president of multifamily and condo operations.

Most obvious among the company’s strategic shifts is its orientation to developing multifamily projects instead of condo projects. “We pride ourselves on being flexible and able to adjust quickly to market demand,” Chappelear tells GlobeSt.com. For example, there is a 318-unit multifamily project for Silver Spring, MD in the design stage that originally had been slated for condo development. That said, the majority of the projects slated for 2008 were multifamily–and were planned that way two years ago, he adds.

Other changes in 2008′s pipeline include a greater number of mixed-use projects–a reflection of Kettler’s growing preference for urban development–and its interest in developing green. “All of our new designs will have the ability to be LEED-certified,” Chappelear says.