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Grosvenor, a privately held property owner and developer with a 70-year track record in North America, announced the promotion of Jonathan Carr to Managing Director, Development. In his new role, Mr. Carr will oversee and support the company's Washington D.C. and San Francisco development teams, as well as serve as the U.S. development point person for capital partners.
James Patillo, Chief Development Officer for Grosvenor's North American property business, notes: "Jon has led development teams in Grosvenor's San Francisco and Washington, D.C. offices and his promotion reflects leadership excellence and supports our focus on building partnerships in the U.S. The Managing Director position was created in response to the significant growth of our development program, and Jon's experience, strategic thinking and management expertise make him the right fit for this critical new role."
Jonathan has a strong performance history of team management and strategic project execution. He is responsible for the delivery of numerous impactful residential and mixed-use projects to the D.C. region, including District on 14th St, City Homes in Eckington, F1RST in Navy Yard, Central in Silver Spring, and Grosvenor's newest best-in-class mixed-use rental community in Union Market, Margarite. This new development is currently 31% leased and provides 260 contemporary residences across 13 stories along with a new 6,000-square-foot community park.
Grosvenor has operated a diversified real estate business in North America since 1952. As of December 31, 2022, the Company had assets under management of USD$4.1bn, including 74 high-quality properties, and is executing on a USD$4.7bn development pipeline across its active markets. Consistent with the firm's farsighted approach to ownership and development, Grosvenor values long-term partnerships; across their nine active capital partners, the average relationship is 17 years.
Grosvenor signed the World Green Building Council's Net Zero Carbon Buildings Commitment in 2019 and has publicly reported its annual consumption and reduction values for 15 years.