The foundation of the company started in 1986 in North Carolina as Don Phillips was working for Hock Development focusing on office and medical facilities. In 1994, Phillips left Hock Development to start his own company. His first major transaction was developing a $10.6 million dollar multi-purpose indoor sports complex. In the succeeding five years, he developed various commercial and residential projects until formally organizing Phillips Development & Realty (PDR) in 1999 to focus exclusively on the multifamily niche. Among its credits, PDR has been recognized for championing properties that many would overlook due to site challenges. In 2003, the company relocated its Corporate Headquarters to Tampa, FL while maintaining satellite offices in North Carolina. The company continued to grow, and in 2008 PDR was named 11th largest multifamily builder in the US. PDR has continued to thrive in some of the toughest real estate markets experienced in history. PDR employs the most current and advanced systems to ensure a seamless transition of each development from initial site selection to stabilization. Through the planning of upscale residential and mixed-use developments, PDR helps communities grow wisely. With $700M in development completed to date, PDR is diversified with proven expertise in acquisition, finance, development, construction, construction management, product supply, and property management.