A&R Development Corp

What A&R Development Corp does

A&R Development Corp is a Baltimore-based, privately held real estate development and investment firm founded in 1977 by Theo C. Rodgers. The company develops commercial, residential, and mixed-use real estate projects in large U.S. cities — primarily across the Baltimore and Washington D.C. metropolitan areas — and serves municipalities, institutional investors, and end users (residents and commercial tenants). A&R operates as a developer, owner, and investor, generating revenue through property sales, leasing, long-term ownership interests, and equity participation in real estate funds, supplemented by management and profit-sharing arrangements with co-development partners.

A&R's portfolio comprises more than 50 major projects representing approximately $900M–$1B in cumulative construction value, 7,800+ housing units, and 500,000+ square feet of commercial space. Notable assets include the Horseshoe Casino ($442 million gaming venue in Baltimore), Lockwood Place ($130 million mixed-use retail and parking in Baltimore with co-developers Parkway Corporation and David S. Brown Enterprises), Rhode Island Row ($99 million, 271-unit mixed-use near a D.C. Metro station with Urban Atlantic), Canton Square (133 luxury townhomes in Baltimore), Capitol Gateway Redevelopment (30-acre mixed-use in Washington D.C.), and The Redwood (151 luxury apartments adjacent to the University of Maryland Baltimore). Development spans asset classes from affordable to luxury and includes gaming, retail, parking, senior housing, and for-sale townhomes.

The firm is family-controlled, co-owned by founder Theo C. Rodgers (Chairman and CEO) and Marjorie Rodgers Cheshire (Principal and former President/COO), with Joshua Riddell as CFO. A&R maintains a small employee base of 11–50 and pursues a co-development, partnership-driven GTM model targeting municipalities through competitive bidding and institutional investors through fund participation. The company has no disclosed institutional capital, parent company, or external ownership arrangements and emphasizes social responsibility through the William L. and Victorine Q. Adams Foundation and contributions to Baltimore-area educational institutions.

Name

A&R Development Corp

Legal name

A&R Development Corp

Website

https://ar-development.com

Company type

Private

Founded year

1977

Operating status

Operating

Headcount range

11–50 employees

Short description

A&R Development Corp is a Baltimore-based, privately held real estate development and investment firm founded in 1977 that develops commercial, residential, and mixed-use projects in the Baltimore and Washington D.C. metro areas, serving municipalities, institutional investors, and end-user residents and tenants.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Land Subdivision (23721), Land Subdivision (2372), Land Subdivision (237210)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Operative Builders (1531)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

Keywords

• Real estate development
• Commercial real estate
• Residential development
• Mixed-use projects
• Urban development

Headquarters

HQ city

Baltimore

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales

Revenue model

1. Real Estate Development: Developing commercial and residential real estate projects from inception through completion. Revenue is generated through property sales, leasing, and long-term ownership interests in developed assets.
2. Real Estate Investment: Acting as investment partners in commercial, residential, and mixed-use projects and in real estate funds. Generates returns through equity participation, management fees, and profit sharing arrangements.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

A&R Development Corp is a real estate development and investment firm that develops, owns, and invests in commercial, residential, and mixed-use real estate projects in large U.S. cities, primarily in the Baltimore and Washington D.C. metropolitan areas. The firm acts as developer, equity investor, and co-development partner, executing projects from inception through completion, generating revenue through property sales, leasing, and long-term ownership interests.

Product overview

A&R Development Corp is a real estate development and investment firm founded in 1977 that develops commercial and residential real estate projects across large U.S. cities. The company operates as a portfolio of individual development projects spanning luxury residential, mixed-use, commercial, and entertainment properties. Their portfolio includes Canton Square (luxury townhomes in Baltimore), Lockwood Place (retail and parking), Horseshoe Casino (gaming and entertainment venue), Capitol Gateway Redevelopment (mixed-use in Washington DC), The Redwood (luxury rental apartments), and Rhode Island Row (luxury apartments and retail). The company has developed over 50 major projects with a construction value of approximately $1 billion, creating more than 7,800 housing units and 500,000+ square feet of commercial space.

Differentiator

Problem solved

Functional benefit

Products and services

• Canton Square A luxury townhome community in Baltimore, MD developed by A&R Development, featuring 133 homes with innovative architectural design including swiveled end units to maximize residents' views.
• Lockwood Place A $130 million mixed-use project in Baltimore featuring 98,000 square feet of retail space, a 940-space parking garage, and an adjacent 275,000 square foot office tower, co-developed with Parkway Corporation and David S. Brown Enterprises.
• Horseshoe Casino A $442 million urban gaming and entertainment venue in Baltimore featuring a 122,000-square-foot gaming floor and a 20,000-square-foot marketplace with food outlets, restaurants, and bars.
• Capitol Gateway Redevelopment A 30-acre mixed-use development in Washington DC including 142 for-sale homes, 86 rental townhomes and apartments, a 151-unit senior building, and a 12-acre mixed-use town center.
• The Redwood A luxury rental building in Baltimore adjacent to University of Maryland Baltimore, featuring 151 apartment homes designed for working professionals and graduate students, with an 8-story parking garage.
• Rhode Island Row A $99 million mixed-use development in Washington D.C. featuring two four-story apartment buildings with 271 units, 70,000 square feet of retail, and a 651-space parking garage, located adjacent to a Metro station, co-developed with Urban Atlantic.
• Real Estate Investment Partnerships Acting as investment partners in commercial, residential, and mixed-use projects and in real estate funds. Generates returns through equity participation, management fees, and profit sharing arrangements with institutional and individual investors.

Quantifiable outcome

• 50+ major projects developed
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Parkway CorporationcoreStrategic or Co-development PartnerCo-development partner on the Lockwood Place project in Baltimore. Parkway Corporation partnered with A&R Development to transform an undervalued surface parking lot into a multi-story retail and structured parking garage.
• David S. Brown EnterprisescoreStrategic or Co-development PartnerCo-development partner on the Lockwood Place project in Baltimore. David S. Brown Enterprises collaborated with A&R Development on this $130 million mixed-use development.
• Urban AtlanticcoreStrategic or Co-development PartnerDevelopment partner on the Rhode Island Row project in Washington, D.C. Urban Atlantic partnered with A&R Development to create this $99 million luxury apartment and retail community adjacent to a Metro station.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Market position

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/140114

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about A&R Development Corp