Richard Lake is a founding Principal of Roadside Development. Roadside was formed 20 years ago as a Washington, DC-based development company, focused on the creation of retail and mixed-use environments. Roadside has become one of the leading experts in urban and town center development throughout the metropolitan Washington, DC region.
Mr. Lake has been responsible for overall acquisition, entitlement, development, leasing, and property management of more than 25 million SF over the past three decades. Notable recent projects include City Ridge located at 3900 Wisconsin Avenue, NW which occupies 550 feet of frontage along Wisconsin Avenue NW, the site includes approximately 9.71 acres of land that is bound by a residential neighborhood to the south, Glover-Archbold Park to the west, and a private office building to the north; City Market at O & 880P, a million square foot, urban infill project in the heart of the Shaw neighborhood in Washington DC, which spans two city blocks and features nearly 90,000 square feet of retail, 550 luxury rental apartments, 90 affordable senior rental units, a 182-room key hotel, a 500-car parking garage, and incorporates the historic preservation of the nationally registered landmark O Street Market; Stonebridge at Potomac Town Center, a 105-acre mixed-use retail town center and residential community in Woodbridge, Virginia; and Cityline at Tenley, which preserved and transformed an abandoned historic Sears building into an award winning mixed-use project that attracted Washington, DC’s first Best Buy and Container Store retailers while also incorporating a contemporary addition of 204 luxury condominium units.
Mr. Lake’s talent for working with development teams and optimizing a project’s full value potential throughout all stages of the real estate cycle is one of his greatest assets. He has also served as a consultant on several real estate projects throughout the country, with an expertise in place-making, by creating successful retail environments and public spaces that amenitize and enhance residential, commercial, and cultural uses to become vibrant mixed-use communities.
Mr. Lake is a native Washingtonian and has been an active member of the business community for over 30 years. Prior to co-founding Roadside Development, he was the founding partner of The Retail Group and led Madison Retail Group, a full-service retail brokerage firm that was the dominant leader in the DC and Mid-Atlantic markets. He began his career in real estate as a broker with Smithy Braedon ONCOR International. He is a graduate of Boston University.
Mr. Lake currently serves on the board of directors for several non-profit and economic development organizations. He is the incoming President of the Board of the DC Building Industry Association (DCBIA), Chairman of Board of the Developer’s Roundtable; past Co-Chair of the Washington DC Economic Partnership (ten years) and current serves on the Executive Committee; A Trustee of the Federal City Council, a member of the Board of Iona Senior Services (also previously President of the Board), and a former member of the Prince William County Economic Advisory Committee.
Interview questions:
Introduction | You were one of the founding partners at Roadside Development in 1998. Please provide an introduction to Roadside Development today. Major developments, footprint, SF, etc.
City Ridge |City Ridge combines historical preservation, retail, office, residential and cultural arts. Can you tell us about the origins of the project? What was your vision for City Ridge? Who are some of the key tenants?
Partners | Who were your partners on the City Ridge development? ie. North American Sekisui House.
Recent Projects | Do you want to share some other recent developments, Stonebridge at Potomac Town Center? Tell us about the conversion of an abandoned historic Sears building into this mixed-use project.
Highlights | Are there any other Roadside Development projects you would like to highlight?
Career | Your career in commercial real estate started at Smithy Braedon ONCOR International. You also founded The Retail Group and led Medison Retail Group. Share some major accomplishments.
Boards | Your outside commitments include the Co-Chair of the Washington DC Economic Partnership; tell us about these involvements.
Connect with Richard on LinkedIn
About Roadside Development, LLC Roadside Development is a Washington DC-based real estate firm that values and invests in people – our employees, partners, business associates, and local communities. The high quality of our projects reflects that value and investment. Whether it is a catalytic urban redevelopment project or a large suburban mixed-use lifestyle center, Roadside Development is committed to providing only professional, innovative, and solution-based real estate services.
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