PHILADELPHIA- LCOR has hired Donald A. Tracy II to build a Philadelphia-focused development team and lead the company's expansion efforts in the region.

Tracy joined Maryland-based LCOR as a vice-president.

LCOR has developed 21,000 residential units and approximately 18 million square feet of commercial space nationally, and has a long history of multifamily and mixed-use development in the New York metro and greater Washington D.C. regions.

“The timing was right for LCOR to refocus our efforts in the Philadelphia development market and utilize our Berwyn office beyond company operations,” said Tom O'Brient, COO and executive vice-president. He said the company's recapitalization with CalSTRS last year positioned it to grow.

“The Philadelphia market is primed for development with a significant demand for quality investment in this region,” said O'Brien. He said Tracy's decade of experience as a developer and property manager made him a strategic hire. 

Tracy has most recently been vice-president of  Bozzuto Development Company, based in Greenbelt, MD, with a local market focus in Exton, PA. He led that firm's growth and development projects in the Philadelphia area and select projects in Maryland.

Tracy is experienced in property planning, finance, construction and operations and has been involved in  a substantial number of multifamily developments.  

“LCOR is a distinguished developer known for producing successful large-scale projects,” he said. “They have a reputation for executing transactions that are often quite complex and that require a special blend of tenacity, passion and instinct.”