Somerset Development Company, LLC specializes in the revitalization of urban communities. Based in Washington, DC, with an office in Baltimore, MD, Somerset focuses on the development and preservation of affordable housing, as well as mixed income, mixed-use and market-rate residential properties. Undertaking the redevelopment of distressed urban properties that are often seen as liabilities, Somerset works to transform them into assets, while preserving the essence of community.
Somerset—a mission-driven, for-profit company—internally subsidizes quality resident services programs in its underserved communities and, wherever possible, combines the renovation and preservation of historic properties with affordable housing and support for local business to achieve comprehensive and sustainable community revitalization. Somerset has a strong record of partnering with tenant associations, community organizations, non-profits, local businesses, and the public sector that share Somerset's vision. Somerset is committed to smart growth, with an emphasis on transit-oriented and sustainable development, and investment in human capital.
Somerset was founded in 2000 by Jim Campbell and Nancy Hooff. Mr. Campbell has over 30 years of experience in real estate development and finance, and Ms. Hooff has over 25 years of real estate, community and international development experience. Somerset is a 51% woman-owned business and is certified in Washington, DC as a Community Based Enterprise (CBE).
Somerset Development Company owns and operates assets valued at over $429 million, with over 1,750 residential units, retail spaces and new community buildings, developed or under development in Washington, DC and Baltimore.