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April 18th, 2013 – The JCR Companies is mentioned in a Washington Post Article written by Michele Lerner.
It’s not exactly a frat house, but the space in the 100-year-old mansion turret at 11th and P streets in Northwest Washington for the newly established JACK Group is a place where the four principals of the development firm can collaborate on mixed-use projects — and have fun.
The JACK Group comprises four friends — Joe Reger (J), Adam Stifel (A), Chris Heisey (C) and Kevin Riegler (K) — who operate separate firms specializing in construction, residential development and retail development. Collectively, they say, they hope to pool their resources and expertise so they can tackle bigger projects.
Riegler and Stifel became buddies in college when Riegler was at the University of Colorado and Stifel at the University of Denver. “Kevin was in Boulder and I was in Denver, but Kevin’s next-door neighbor in his freshman dorm was my best friend, so we hung out together a lot,” says Stifel.
The two later moved to the District, co-founding CAS Riegler, which develops residential and mixed-use projects in the city. They soon connected with Heisey, who co-founded Snead Construction with Stifel, and Reger, partner and founder of the JCR Companies, which leases retail space.
“The JACK Group will share overhead and back house accounts, but we’re each keeping our separate companies, too, in case we want to do projects that the others aren’t interested in,” says Stifel. “It’s a big advantage to share equity sources and banking relationships.”
The JACK Group’s first project, the sold-out Lock & Electric Lofts mixed-use development at 1324 14th St. NW, has five luxury condominiums above 4,900 square feet retail of space. “Top Chef” contestant Bart Vandaele will operate the B Too Restaurant there, set to open by May 1. The JACK Group also is converting the 100-year-old former Edmonds School on Capitol Hill into condominiums.
One of the first projects they did together was to renovate their new digs, the century-old mansion.
“We loved the character of the building and the ability to change it for our needs,” says Stifel. “Two of us have fireplaces in our offices, and the other two have offices inside the turret. Our conference room is on the lower level of the turret and has a fireplace. We made a beautiful custom giant table out of joists reclaimed from the Edmonds School for the conference room.”