Harley Stanfield, a local firm focused on green real estate development and investing, has landed at #3 on Inc. magazine’s annual list of the 500 fastest growing companies in the U.S. Headquartered downtown on I Street, Harley Stanfield enables consumers to buy property, both residential and commercial, that it then finances, manages, and in some cases develops on the consumer’s behalf. The properties satisfy eco-friendly standards, which the company says makes for a better and more socially responsible investment.
According to its profile on Inc.com, Harley Stanfield’s gross revenue has ballooned from under $300,000 in 2005 to over $38 million last year. This phenomenal growth secured it the high ranking on the Inc. 500.
To date the company has focused much of its efforts in college towns like Ann Arbor, Michigan and South Bend, Indiana, where the economics of its real estate investment model work best. It has not done any projects in the D.C. metropolitan area, though that’s about to change.
“We are in the process of negotiating with the D.C. government on a green construction initiative,” founder and CEO Cedric Franklin told UrbanTurf. The initiative would see Harley Stanfield train local workers in its green construction methods and provide them employment rehabilitating distressed properties it acquires from the city to feed into its investor program.
Separately, Washington, D.C., was ranked #1 of all cities in the U.S. based on the number of companies it has on this year’s Inc. 500. Forty-two of the 500 are from the D.C. area. New York and LA tied for #2 with 36 companies apiece.