Petra Development

Petra Development is a national real estate development company founded in 2011 and headquartered in Washington, DC, with operations in Dallas, Texas. The firm has developed and overseen projects representing more than $2 billion in total development value, encompassing approximately 3,250 residential units, more than 5 million gross square feet, and approximately 650 hotel keys across luxury residential, mixed-use, affordable housing, and industrial asset classes.

Petra Development specializes in complex urban development environments, with experience integrating sustainable, high-performance building strategies, mass timber systems, and energy-efficient design approaches. The firm operates across diverse U.S. markets, from historic residential renovations and adaptive reuse projects in Washington, DC neighborhoods such as Georgetown, Kalorama, and Capitol Hill, to large-scale transit-oriented residential development in Prince George’s County, Maryland, and high-performance mixed-use projects in Texas. Petra Development is also focused on ultra-luxury waterfront residential development opportunities in Miami, Florida, reflecting a strategic emphasis on architecturally driven, high-design coastal residential projects.

Our Approach

Petra Development approaches real estate development through disciplined execution, long-term value creation, and a commitment to quality across all asset classes. Projects are evaluated through lifecycle performance, capital discipline, and adherence to high standards of safety, quality, and regulatory compliance.

Sustainability is approached as a performance and durability standard rather than an ideological position. The firm integrates energy efficiency, lifecycle cost analysis, and high-performance building systems into its development strategy, with projects designed to remain relevant and functional over multi-decade lifecycles.

Blueprint Robotics

Through Blueprint Robotics, Petra Development has evaluated and advanced the planning of a proposed 450,000 square foot mass timber and industrialized construction facility in Windsor, Connecticut. Conceptual design and internal project modeling explored mass timber systems, robotics-enabled wood-frame construction, digital design coordination, and offsite fabrication methodologies.

Analyses indicated the potential for material efficiency gains, improved quality control, and production capacity increases of up to approximately 250 percent relative to conventional construction methods, subject to final design and execution. This work reflects the firm’s interest in construction innovation and execution discipline rather than a claim of operational output.

Major Projects

Petra Park (Frisco, TX) Planned 1.4 million square foot high-performance mixed-use development. Programmatic plans include approximately 210 residential units, 225 hotel keys, and approximately 900,000 square feet of office space. Designed as an energy-efficient, smart building development with a phased timeline spanning 2024-2027.

National View (Prince George’s County, MD) Planned 21-acre, approximately 1.4 million square foot mixed-use and mixed-income development. Programmatic plans include approximately 1,500 residential units, including senior affordable housing, along with grocery, daycare, neighborhood retail, and public-serving uses. Transit-oriented site located adjacent to a Metro station, representing an estimated $720 million total investment.

Southern Avenue (Prince George’s County, MD) Planned 15-acre transit-oriented development opportunity. Programmatic plans include neighborhood retail, a full-service grocer, and mixed residential components.

Historic Washington, DC Portfolio Luxury renovations in Georgetown (3614 Prospect Street), Kalorama (Yellow Jasmine, 1837 Wyoming Avenue), and Capitol Hill (418-426 C Street NE), along with projects in Cleveland Park, Mass Avenue Heights, Adams Morgan, H Street Corridor, and U Street.

Multifamily and transit-oriented residential development platform in Washington, DC, encompassing approximately 700 residential units representing an estimated $450 million in total residential development value, including a mix of market-rate, affordable, and mixed-income housing, advanced across complex zoning, entitlement, and regulatory environments

Core Values

Innovation: Pioneering groundbreaking solutions, harnessing technology, and embracing creative thinking to reshape the future of construction and development.

Quality: Uncompromising standards, meticulous craftsmanship, and a commitment to excellence, ensuring every project reflects dedication to perfection.

Sustainability: Integrating eco-conscious practices, minimizing environmental impact, and fostering future-focused developments that benefit communities and nature.

Mission & Vision

Mission: “To create exceptional built environments that enrich lives, promote sustainability, and contribute to the advancement of communities. Through our unwavering commitment to quality, innovation, and ethical practices, we aspire to be a catalyst for positive change, forging a better tomorrow for all.”

Vision: “To be a leading force in the construction and real estate development industry, recognized for our unparalleled dedication to excellence, our transformative projects, and our role in shaping a sustainable and vibrant future. We aim to continuously push the boundaries of creativity and innovation, leaving a lasting positive impact on the built environment and the lives of those we serve.”

Sustainability Certifications

Petra Development pursues multiple sustainability certifications including:

Recognition & Media

Petra Development’s work has been featured in Washingtonian, Washington Business Journal, UrbanTurf, Dallas Business Journal, The Real Deal, CT Insider, Woodworking Network, and DC Patch. Founder Rashid Salem has spoken at industry conferences including the IBcon Smart Building Integrator Summit, participating in panels on building technology, decarbonization, and construction innovation.

Contact

Headquarters: Washington, DC Operations: Dallas, TX 

Website: petradevelopment.com

Email: info@petradevelopment.com

Social Media:

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