The IDI Group Companies
| Private | |
| ISIN | 🆔 |
| Industry | Real estate development |
| Founded 📆 | 1975 |
| Founder 👔 | |
| Headquarters 🏙️ | , 1700 N. Moore Street, Suite 2020, Arlington, Virginia , United States |
Area served 🗺️ | Washington, D.C., metropolitan area |
Key people | Giuseppe Cecchi, President and CEO[1] |
| Products 📟 | Condominium communities, apartment communities, luxury residential homes, mixed-use developments, office buildings, hotels |
| Members | |
Number of employees | |
| 🌐 Website | [1] |
| 📇 Address | |
| 📞 telephone | |
The IDI Group Companies (also known as IDI) is a privately owned real estate development firm based in Arlington, Virginia, in the United States. Founded in 1975 as International Developers, Inc. by Giuseppe Cecchi, IDI's senior management includes three members who have been together for 30 years. The company has been recognized with numerous awards for innovation, design and customer service over the last four decades, and during that span developed some of the most memorable and pioneering projects in the Washington, D.C., metropolitan area. IDI is currently developing multiple condominium and apartment communities in Northern Virginia.
Corporate history[edit]
IDI founder Giuseppe Cecchi was born in Milan, Italy, to Antonio Cecchi, the head engineer of the city of Milan at that time. Following both his father and grandfather, Cecchi graduated from the University of Milan in 1955 with a masters degree in professional engineering. In 1959, he came to the United States to scout real estate investments for the firm Societa’ Generale Immobiliare (SGI). Living in New York City for six months, Cecchi expanded his english vocabulary watching double features of western films. An opportunity for a project brought Cecchi to Washington, D.C. in June, 1960. The opportunity became SGI’s initial venture in the Washington metropolitan area, the Watergate complex overlooking the Potomac River. Thus Cecchi led the development of the National Capital region’s first ever mixed-use development.[2]
The development team Cecchi formed at SGI followed their first successful venture with the development Watergate at Landmark in Alexandria, Virginia. This residential project was the first to bring luxury condominium living to Alexandria's West End. This complex became the model for a series of large, residential communities with extensive recreational facilities, that Cecchi and IDI would develop including: The Rotonda, The Belvedere, Montebello, Porto Vecchio, Altavista, Carlyle Towers and Leisure World of Maryland and Leisure World of Virginia. IDI's success during its early years was unprecedented, building more than 12,000 condominiums, far exceeding competing developers in the Washington metropolitan area.[3]
In 1977, IDI pioneered a widely hailed program of tenant-sensitive condominium conversions when the company acquired and redeveloped the 1,684-unit Parkfairfax complex in Alexandria, Va. With no evictions, IDI was able to upgrade apartments and convert them into condominiums at sale prices that were affordable to existing tenants, providing a private solution to the need for affordable housing. More than 30 years later, the existing quality endured, as Parkfairfax was named Best Condominium Community in the metropolitan area for 1999. Following the model that saw so much success at Parkfairfax, IDI replicated its innovative "no-eviction-conversion" on an additional 979 units at Belle View, also in Alexandria, Va.[4]
In 1980, IDI became involved for the first time in senior communities, when the company teamed up with developer Ross Cortese for the completion of the residential and recreational facilities at Leisure World in Silver Spring, Md.[5] IDI's Leisure World development team is also responsible for the development of the community now known as Lansdowne Woods of Virginia, which was previously Leisure World of Virginia.[6] IDI has also taken an active part in the creation of new neighborhoods in large planned communities through its role in developing Burke Centre and Franklin Farm.[7]
The IDI Group Companies have developed a broad range of real estate projects, from award-winning high rise condominium communities and condominium conversions to office buildings and hotels; from land development, including residential subdivisions, to large urban mixed-use projects. But despite its diversification, IDI's strength and greatest success has always been in its condominium projects, and Cecchi's vision has consistently put IDI at the forefront of condominium development. With IDI’s successful condominium communities considered national models for their luxury and their abundant amenities, it's clear why the April 19, 1981, issue of The Washington Post once dubbed Cecchi “Condo King!”[3] The company’s successes have also led to dozens of industry awards, as well as the J.D. Power Award for Highest Customer Satisfaction.[8]
Through its various affiliates, IDI has also developed 2.7 million square feet of rentable commercial space in office, retail and mixed-use projects, as well as more than 1,400 hotel rooms, and 2,400 acres of land development for residential construction. IDI's significant commercial projects include: Techworld Plaza, Rosslyn Center, Ballston Metro Center, the Renaissance and Vista International Hotels and Leisure World Plaza Shopping Center.[9]
Over the last 15 years, the privately held IDI welcomed the next generation of Cecchi's to the firm. Enrico, Carlos and John Cecchi worked through the ranks at the company during he past two decades and now have key responsibilities in the acquisition, construction and development of IDI's new multifamily, residential and mixed-use developments.
Current Projects[edit]
IDI is currently focusing on several major projects in the DC metropolitan area:
The Enclave, City of Fairfax, Va. (80 luxury condominiums)[10]
Rivergate, Woodbridge, Va. (720 waterfront apartments and condominiums)[11]
Paul VI Redevelopment, City of Fairfax, Va. (18.5 Acres – residential/mixed use master plan)[12]
The Strand, City of Alexandria, Va. (18 luxury condominiums)[13]
IDI Residential, Washington, D.C. (Renovation and ground up construction of luxury residences)[14]
Huntington Club, Fairfax County, Va. (19 acres – mixed use master plan)[15]
References[edit]
- ↑ Cubé, Christina (May 20, 2002). "Giuseppe Cecchi: The private developer". Washington Business Journal. Retrieved July 5, 2017.
- ↑ Cecchi, Giuseppe (25 October 2016). "Family of Voices: Giuseppe Cecchi". National Museum of American History. Smithsonian Institute. Retrieved 11 July 2017.
- ↑ 3.0 3.1 Boodman, S; Boodman, ra G. (April 19, 1981). "'Condo King' Rules $300 Million Empire". The Washington Post. Washington, D.C. Archived from the original on July 6, 2017. Retrieved July 6, 2017.
- ↑ Bobeczko, Laura (Spring 1997). "A Study in Decentralized Living: Parkfairfax, Alexandria, Virginia" (PDF). Historic Alexandria Quarterly. III (6): 11–13. Retrieved 11 July 2017.
- ↑ Van Hollen, Chris (13 July 2016). Tribute to Leisure World of Maryland (Speech). 114th Congress, 2nd session. Washington, D.C.: U.S. Government Publishing Office. Retrieved 17 July 2017.
- ↑ Pae, Peter (July 17, 1997). "A World of Leisure Is Coming Soon". The Washington Post. Washington, D.C. Retrieved July 17, 2017.
- ↑ Warren Walsh, Sharon (December 4, 1986). "Prominent Developers Form New Partnership". The Washington Post. Washington, D.C. Retrieved July 17, 2017.
- ↑ "J.D. Power and Associates 2006 New-Home Builder Customer Satisfaction Study" (PDF) (Press release). Westlake Village, CA: The McGraw-Hill Companies. J.D. Power and Associates. September 13, 2006. Retrieved July 17, 2017.
- ↑ Milk, Leslie (November 9, 2012). "Business Hall of Fame: Giuseppe Cecchi". Washingtonian. Retrieved July 6, 2017.
- ↑ Hobbs, Bonnie (September 16, 2015). "Fairfax City Council Approves Project to Build 80 Condos". The Connection Newspapers. Retrieved July 17, 2017.
- ↑ Palermo, Jill (September 28, 2016). "Rivergate North Construction Underway in Woodbridge". Prince William Times. Retrieved July 17, 2017.
- ↑ Hobbs, Bonnie (August 26, 2016). "Fairfax: Looking Toward The Future". The Connection Newspapers. Retrieved July 17, 2017.
- ↑ Barton, Mary Ann (August 15, 2016). "Fairfax: New Residential + Retail Building Proposed for Strand Street in Old Town Alexandria". Old Town Alexandria Patch. Retrieved July 17, 2017.
- ↑ Orton, Kathy (April 18, 2014). "House of the Week: Kalorama Home for $5.25M". The Washington Post. Retrieved July 17, 2017.
- ↑ Peterson, Tim (January 26, 2017). "Reshaping the Region". The Connection Newspapers. Retrieved July 17, 2017.
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