Investment capitalizes on current growth in urban development
The Long & Foster Companies, parent company of Long & Foster Real Estate—the nation’s third largest real estate company and the country’s No. 1 privately owned real estate firm—has invested in Urban Pace, a new construction sales and marketing firm based in Washington, D.C. Going forward, Urban Pace will continue to operate under its same brand and team at the current office location and will become part of the Long & Foster group of companies.
“In regions like Washington, D.C., urban developments—whether they’re high-rise or townhouse-style condos—are thriving, and our team at Long & Foster recognized the opportunities for our company’s and our agents’ growth by partnering with a firm like Urban Pace,” said Jeffrey S. Detwiler, president and COO of The Long & Foster Companies. “Working with Urban Pace, we’ll not only increase our leading presence in the urban markets, but also better serve the D.C. area’s home buyers and sellers with added knowledge and insight into new construction opportunities.”
Lynn Hackney, previously Urban Pace’s president, will assume a new role as CEO with Urban Pace, focusing on the firm’s strategic direction and vision. In that position, Hackney will work to grow Urban Pace geographically into new urban markets and advance the firm’s technology platform by leveraging the Long & Foster relationship. Matt Dewey, who has been with Urban Pace for 11 years, will take on the role of president at Urban Pace, handling all day-to-day operations and activities. Jennifer Harper will continue her key role as senior sales director, working with Dewey as part of the managerial team.
“Our partnership with Long & Foster elevates the products and services we provide our clients, from enhanced research and insights to more robust technology and an improved marketing platform,” said Hackney. “Together, we’ll provide an even better experience and more exceptional service to developers and buyers alike, simplifying the real estate process for urban home shoppers and offering more expansive marketing, technology and sales programs to developers.”
Through the partnership with Long & Foster, Urban Pace will be able to leverage the real estate company’s marketing expertise and technology, increasing the already high value of its developer services. Urban Pace also will provide its developers with access to the highly talented Long & Foster family of over 11,000 agents, as well as its exclusive affiliation with Christie’s International Real Estate and affiliations with Leading Real Estate Companies of the World and Luxury Portfolio International. In addition, the Long & Foster partnership will enable Urban Pace to showcase its developments on Juwai.com, China’s largest international real estate portal. These relationships not only add to the resources available to Urban Pace developers, but also help ensure even greater global exposure of new development projects.
Consumers will also benefit from Urban Pace and Long & Foster’s new relationship with more simplified real estate transactions. Long & Foster offers a one-stop shopping approach for its clients, providing everything a person needs to buy, sell and own a home. Through the partnership with Urban Pace, Long & Foster will be able to connect individuals purchasing properties in Urban Pace’s developments with streamlined financing, insurance and settlement, among other homeownership services.
For more information about Long & Foster, visit LongandFoster.com. You can learn more about Urban Pace at UrbanPace.com.