Jim Edmondson and Tom Gallagher founded Edmondson & Gallagher (now the E&G Group) in 1982. Our first projects were all in the Washington DC region. Each required the purchases and redevelopment of apartments for affordable rental. We used a variety of funding sources, including conventional, government insured and tax-exempt loans. All of our early projects had a contract for rental assistance with a local government. To this day we remain committed to moderate-income rental apartments. They are good business and they serve people who need decent homes.
As did many others, we suffered through the real estate crash of the early 1990's. We learned some important life lessons: long-term projections are dreams not predictions; cash in the bank is your best friend in hard times. Real estate cycles can make average people look brilliant and geniuses look like fools. We put those life lessons to work for our clients, our investors and ourselves. We stay alert to risks and seek to mitigate them. We know how to reach for the stars from a sturdy platform.
We did our first project management assignment in the late 1980s - the restoration of historic James Brice House in Annapolis Maryland for the International Union of Bricklayers. Like our development projects, Brice House involved multiple layers of finance and an urban setting, a world famous architect and a costly and exacting scope of restoration work.
Today we continue to work on a wide range of projects - from Maxwell House, an affordable mid-rise in Augusta Georgia, to the National Law Enforcement Museum, a landmark project in Judiciary Square, Washington, DC.
