Great Eastern Management Company
Established in 1972, Charlottesville, Virginia based Great Eastern Management Company develops, constructs and manages income-producing real estate properties and engages in other business ventures and investments. In addition to its ongoing involvement in developing and constructing real estate properties in Central Virginia, Great Eastern currently owns and manages office buildings, shopping centers and multi-family residential properties in Charlottesville, Harrisonburg and Lynchburg, Virginia.
A professionally managed firm, Great Eastern employs more than 35 full time equivalent persons, plus additional seasonal personnel and a large number of subcontractors. An experienced administrative and property management staff is complemented by skilled maintenance and construction crews. The construction department also includes knowledgeable carpentry and electrical trade superintendents.
In the Charlottesville area, Great Eastern and its affiliated business entities have developed the STONEHENGE, Bennington Woods, Georgetown Court and GRASSMERE Farm residential communities, developed and constructed a General Electric facility in the Northside Industrial Park, a Division of Motor Vehicles Branch Office, a terminal expansion for the Charlottesville/Albemarle Airport, the 2400 Old Ivy Road Office Building, the Court Square Office Building, the Rio East Commercial Area, the Pantops, Blue Ridge and Seminole Square Shopping Centers, and the Module 21, Westgate, Barclay Place and Solomon Court Apartments. Great Eastern also renovated the Tarleton Square Building (apartments and offices) and joint ventured with the Charlotte, N.C. firm of David R. Krug and Associates, Inc. to successfully convert the Charlottesville Towers Apartments to a condominium.
Great Eastern also developed and constructed the Park Apartments in Harrisonburg and has been involved in many successful renovation efforts with moderate income apartments, including the Colony Hilton Apartments in Newport News and several properties formerly owned by United Dominion Realty Trust (UDR), a publicly traded equity real estate investment trust formerly headquartered in Richmond. In addition, Great Eastern renovated the Fort Hill Village Shopping Center in Lynchburg. The company is actively working on the development and construction of the Waterhouse/WorldStrides project in Downtown Charlottesville as well as the 269 acre North Pointe mixed-use community in Albemarle County. North Pointe is located directly across from the University of Virginia's North Fork Research Park, a project which is planned to include 3,500,000 square feet of office and research space, and near the new and expanding National Ground Intelligence Center (NGIC).
Great Eastern, its principals and affiliated entities are involved in several other business and investment ventures, including the Prima Group, which owns and manages an upscale restaurant in Charlotte, N.C. Until January 1984, Great Eastern and its related entities were the largest shareholders in Old Dominion REIT, the predecessor of United Dominion Realty Trust. The principals of Great Eastern have long been actively involved in leadership positions with a large number of civic, community and non-profit organizations.