Level 2 Development
- Company typePrivate
- Founded2004
- HeadquartersWashington, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Level 2 Development does
Level 2 Development is a Washington, D.C.-based real estate development firm founded in 2003/2004 by David Franco and Jeff Blum. The company acquires urban infill sites, secures entitlements through Area Neighborhood Commissions and local stakeholders, and develops luxury residential, mixed-use, and historic-rehabilitation projects across the Mid-Atlantic and Southeast United States, including Washington DC neighborhoods (14th Street, Union Market, Takoma), Richmond VA, and several North Carolina markets. The portfolio of roughly 900 operating units spans condo conversions (The Clift, The Mercury), ground-up mixed-use developments (View 14, Takoma Central, Highline at Union Market), and historic adaptive-reuse projects (Lofts 29, Ferrell Historic Lofts, Piedmont Lofts, The View at Hotel Concord, The View at Wayne National).
Level 2 Development firmographics
Firmographics- Name
- Level 2 Development
- Legal name
- Level 2 Development LLC
- Website
- https://level2development.com
- Company type
- Private
- Founded year
- 2004
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
Level 2 Development industry classification
Industry- Product category
- Real Estate Development
- NAICS
- Residential Building Construction (23611), Land Subdivision (23721), Commercial and Institutional Building Construction (23622)
- SIC
- Land Subdividers & Developers (No Cemeteries) (6552), General Bldg Contractors - Residential Bldgs (1520)
- akta.pro primary industry
- Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)
- akta.pro secondary industries
- Housing Development, Construction & Rehabilitation Programs (BPAIANAB), Residential Affordable Housing Development & Construction (IMAFABAI)
Keywords
Where Level 2 Development is headquartered
LocationHeadquarters
- HQ city
- Washington
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Level 2 Development business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Condominium Sales: Development and sale of condominium units to individual buyers. Projects include View 14 (originally planned as condos), The Clift, The Mercury, and others. Revenue recognized upon closing of unit sales.
- Apartment Rental Income: Leasing of residential apartment units to tenants on monthly basis. Properties held as long-term assets generating recurring rental revenue. View 14 transitioned from condo to rental model.
- Ground-Floor Retail Leasing: Leasing of retail commercial space at ground floor of mixed-use developments to tenants including restaurants, fitness centers, community services, and other retail operators.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | View 14 rental units - studio to 2BR apartments |
| One time/ perpetual license | Pay-as-you-go | View 14 original condo pricing |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels3 records
Level 2 Development product offering
Product offeringCore offering
Level 2 Development is a Washington, D.C.-based real estate development firm that acquires urban infill sites, secures entitlements, and constructs luxury residential and mixed-use properties. Its portfolio includes ground-up apartment buildings, condominium conversions, and adaptive-reuse historic rehabilitations, with ground-floor retail space leased to restaurants, fitness operators, and community-service tenants. Revenue is generated through condominium sales, apartment rental income, and commercial retail leasing.
Product overview
Level 2 Development is a Washington, D.C.-based real estate development firm that specializes in luxury residential and mixed-use projects. The company's portfolio consists of individual real estate developments across the Mid-Atlantic region and North Carolina, including condo conversions (The Clift, The Mercury), historic rehabilitations (Lofts 29, Ferrell Historic Lofts, Piedmont Lofts, The View at Hotel Concord, The View at Wayne National), and new ground-up mixed-use developments (View 14, Takoma Central, Highline at Union Market). The company focuses on creating value in urban neighborhoods through quality construction, community engagement, and adaptive reuse of historic buildings.
Differentiator
Problem solved
Functional benefit
Products and services
- View 14 A 185-unit luxury apartment building at 2303 14th Street NW in Washington, D.C.'s U Street Corridor, featuring floor-to-ceiling glass windows, rooftop terraces with views of the Capitol and Washington Monument, ground-floor retail, fitness center, business center, and sculpture garden. Originally planned as condominiums, converted to rentals.
- Takoma Central A 150-unit apartment building at 235 Carroll Street NW in Washington, D.C.'s Takoma neighborhood, featuring ground-floor retail including Busboys & Poets restaurant, adjacent to Takoma Metro station. Developed in partnership with Federal Capital Partners and SGA Companies.
- The Clift Level 2's inaugural project — conversion of a late 19th-century historic row house in Washington, D.C.'s 14th Street neighborhood into four modern luxury condominiums, completed in 2001.
- The Mercury Retrofit of a 1960s apartment complex in Washington, D.C.'s 14th Street neighborhood into a 12-unit boutique condominium building featuring an innovative facade redesign and sleek interiors with state-of-the-art finishes.
- Lofts 29 Conversion of the former Heilig-Meyers Brothers Furniture Store (built in the early 1920s) in Concord, NC into 26 luxury loft-style apartments with exposed brick walls, soaring ceilings, and modern amenities, developed in partnership with Rehab Development.
- Ferrell Historic Lofts Revitalization of the historic J.W. Ferrell & Co. furniture building (originally built between 1866-1886) in Danville, VA into 13 rental loft apartments above ground-floor retail, in partnership with Rehab Development.
- Piedmont Lofts
- The View at Hotel Concord Restoration of the historic Hotel Concord (built in 1926) in Concord, NC into 40 luxury apartments above ground-floor retail with 9,868 square feet of event space, in partnership with Rehab Development.
- The View at Wayne National
- Highline at Union Market (i5 Union Market)
Quantifiable outcome
- View 14 leased 185 units to 95% occupancy within 12 months of opening
- +2 more outcomes
Companies that use Level 2 Development
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles4 records
Level 2 Development technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Level 2 Development partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- Clark EnterprisescorePartner on Highline at Union Market, a 318-unit, $100 million mixed-use apartment development with 10,000 SF of ground-floor retail at 320 Florida Ave NE.
- EdenscoreRetail real estate developer leading the 45-acre Union Market redevelopment. Level 2 serves as co-developer on the 1270 4th St NE mixed-use project featuring Latin marketplace anchored by chef Jose Garces.
- Trammell Crow ResidentialcoreCo-developer with Edens and Level 2 on the 1270 4th St NE mixed-use project adjacent to Union Market.
- SGA CompaniesminorBethesda-based developer and joint venture partner with Level 2 on Takoma Central development at 235 Carroll Street in the Takoma Park Historic District.
- Federal Capital PartnerscoreChevy Chase-based real estate company and joint venture partner on Takoma Central, a 156-unit mixed-use project near Takoma Park Metro station with estimated cost of $36 million.
- Rehab DevelopmentcoreWinston Salem, NC-based development partner on multiple historic rehabilitation projects: Ferrell Historic Lofts (Danville, VA), Lofts 29 (Concord, NC), Piedmont Lofts (Monroe, NC), and The View at Wayne National (Goldsboro, NC).
- Bozzuto Management CompanycoreGreenbelt, MD-based property management company managing View 14 and other Level 2 rental properties. Named Property Management Company of the Year by NAHB in 2000 and 2009. Manages over 100 properties along the East Coast.
- SK&I ArchitecturecoreBethesda-based architecture firm providing design services for View 14 and other Level 2 projects. Extensive experience in DC urban mixed-use developments including PN Hoffman's Union Square and Bozzuto Homes' Fedora Condominium.
- Centrum PropertiescoreChicago-based real estate developer and joint venture partner on multiple Level 2 projects including View 14 (180-unit mixed-use at 14th and Florida) and Nehemiah Shopping Center site. Centrum has developed over 5,000 residential units nationwide.
- Petrovitch Brothers (Pedro and Paolo Petrovitch)minorFormer owners of Petrovitch Auto Repair property at 14th Street and Florida Ave. Level 2 negotiated for over a year to acquire the site, providing tax-deferred reinvestment strategy and six-month post-settlement occupancy to accommodate their exit.
- ComcastminorRequired negotiation to relocate satellite dishes and antenna tower from View 14 site. Nine-month negotiation process resulted in removal of six satellite dishes and 150-square-foot antenna tower from the development site.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Level 2 Development competitors and assessment
Company assessmentDirect peers
- StonebridgeCarras: DC-based developer of mixed-use, residential and hotel projects across the Capitol Riverfront, Bethesda and other DC submarkets; comparable in product type, urban infill focus, and project scale to Level 2's mixed-use pipeline.
- Donohoe Development Company: Washington DC-area developer of multifamily, mixed-use and affordable housing projects including ground-up and historic rehabilitation, overlapping with Level 2 on residential product type, mixed-use format, and DC-suburban footprint.
- The NRP Group: National multifamily developer specializing in mixed-use and mixed-income apartment projects, comparable to Level 2 on residential product type and JV-financed deal structure across multiple US submarkets.
- Roadside Development: Washington DC real estate firm developing luxury mixed-use and condominium projects in urban neighborhoods such as 14th Street and City Vista, sharing Level 2's small-team, design-driven, community-engagement approach to infill development.
- Urban Atlantic Group: DC-based developer of mixed-use and mixed-income communities including the Pointes at Riverfront and H Street NE; comparable to Level 2 on urban DC infill, mixed-use execution, and minority-led development positioning.
- Buchanan Partners (Buchanan Street Partners): DC-area real estate investment and development firm active in multifamily and mixed-use projects in the DC metro, comparable to Level 2 on geography, investment strategy, and product mix.
- EYA Development: Washington-region urban infill and mixed-use developer focused on walkable neighborhoods with similar luxury residential product and community-engagement-led entitlement strategy, directly comparable to Level 2's 14th Street and Union Market playbook.
- Centrum Properties: Chicago-based multifamily and mixed-use developer with 5,000+ units nationwide and an established JV relationship with Level 2 on View 14 and other projects; directly comparable on mixed-use product, JV deal structure and urban infill focus.
Broad incumbents
- Bozzuto Group: Established DC-area real estate firm combining development, construction and property management across the Mid-Atlantic — Level 2's existing operating partner through Bozzuto Management — and overlapping on Class A multifamily and mixed-use product type.
- JBG Smith: Public REIT and largest owner/developer of mixed-use properties in the Washington DC metro, operating at far greater scale but overlapping directly with Level 2 in DC urban infill, mixed-use residential, and transit-oriented submarkets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights7 records
Customer concentration
Level 2 Development social profiles
Digital presenceLevel 2 Development financial estimates
Financial estimateRevenue estimate
Valuation estimate
Level 2 Development leadership team
Management profileNumber of profiles
Profiles4 records
Level 2 Development funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Level 2 Development M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Level 2 Development
What does Level 2 Development do?
Level 2 Development is a Washington, D.C.-based real estate development firm that acquires urban infill sites, secures entitlements, and constructs luxury residential and mixed-use properties. Its portfolio includes ground-up apartment buildings, condominium conversions, and adaptive-reuse historic rehabilitations, with ground-floor retail space leased to restaurants, fitness operators, and community-service tenants. Revenue is generated through condominium sales, apartment rental income, and commercial retail leasing.
Is Level 2 Development a public or private company?
Level 2 Development is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Level 2 Development founded?
Level 2 Development was founded in 2004. It employs 1 to 10 people.
Where is Level 2 Development based?
Level 2 Development is headquartered in Washington, United States, in the North America region.
How does Level 2 Development make money?
Three revenue lines are on record. Condominium Sales are the primary driver. The others are apartment Rental Income and ground-Floor Retail Leasing.
Who are Level 2 Development's main competitors?
Direct peers on record are StonebridgeCarras, Donohoe Development Company, The NRP Group, Roadside Development, Urban Atlantic Group, Buchanan Partners (Buchanan Street Partners), EYA Development and Centrum Properties. Broad incumbents are Bozzuto Group and JBG Smith.
Does Level 2 Development have an API?
No public API is recorded for Level 2 Development.
What industry is Level 2 Development in?
Level 2 Development's product category is Real Estate Development. Its primary akta.pro industry code is IMAFABAL, Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities), with a secondary code of BPAIANAB, Housing Development, Construction & Rehabilitation Programs. Its NAICS code is 23611 and its SIC code is 6552.