Lessard Design Inc., a Tysons-based architecture firm with a 30-year history, has secured a significant minority investment from Boundary Companies, a real estate investment firm located in Washington, D.C. This strategic partnership is designed to fuel Lessard Design's expansion, enabling the firm to pursue larger, more complex architectural projects and extend its geographic reach into new markets.
Key Takeaways
- Tysons architecture firm Lessard Design has received a minority investment from D.C.-based Boundary Companies.
- Founder Christian Lessard will continue as president and majority owner of the 30-year-old firm.
- The capital infusion aims to help the company take on larger-scale projects and expand nationally.
- Boundary Companies principals John Wilkinson and Scott Killie will join Lessard Design's board of directors.
Details of the Strategic Partnership
Lessard Design Inc., known for its work on prominent local developments such as The Exchange at Spring Hill Station, has announced a new phase of growth following an investment from Boundary Companies. While the specific financial terms of the deal were not disclosed, the investment provides Lessard Design with the capital necessary to scale its operations significantly.
According to the firm, this partnership is the result of a year-long search for a capital partner that could support its ambitious growth objectives. The collaboration is described as more than just a financial transaction; it is a strategic alliance that combines Lessard's design expertise with Boundary's extensive knowledge of real estate investment and development.
As part of the agreement, Christian Lessard, the firm's founder, will maintain his position as president and will remain the majority shareholder. The leadership structure will be enhanced by the addition of John Wilkinson and Scott Killie, principals at Boundary Companies, who will now serve on Lessard Design's board of directors. Their inclusion is expected to provide valuable strategic guidance as the firm navigates its expansion.
Company Profiles
Lessard Design Inc. was founded 30 years ago and is headquartered in Tysons, Virginia. The firm employs approximately 65 people and has a diverse portfolio that includes projects in 27 states and 13 countries. Its work is recognized in major developments across the Washington, D.C. metropolitan area.
Boundary Companies is a Washington, D.C.-based real estate investment and development firm. It focuses on acquiring and developing various property types, bringing a deep understanding of market dynamics and project financing to its partnerships.
Vision for Future Growth and Expansion
The primary goal of this new capital infusion is to empower Lessard Design to compete for and execute larger and more intricate architectural projects. For years, the firm has built a solid reputation with mid-rise and mixed-use developments, but this investment opens the door to a new tier of opportunities.
Targeting New Markets
A key component of the growth strategy involves geographic expansion. While the firm has a strong presence in the Mid-Atlantic, it is now actively exploring opportunities in other high-growth regions across the United States. Leadership has indicated that markets such as Florida and Texas are under consideration for potential new offices.
This national expansion will allow the firm to diversify its portfolio and tap into booming construction and development markets outside of its traditional base of operations. The strategic guidance from Boundary's principals will be instrumental in identifying and entering these new territories successfully.
"We want to grow the company," stated Christian Lessard in a recent interview. He emphasized that finding the right partner was crucial, noting that the goal was not just to secure funding but to align with a firm that understood the real estate landscape. The partnership with Boundary provides both the capital and the industry insight needed for the next chapter.
A Legacy of Notable Projects
Lessard Design has been a significant player in shaping the architectural landscape of the Washington, D.C. region and beyond. The firm's portfolio demonstrates its capability in designing complex, community-focused projects.
Project Highlights
Lessard Design's portfolio includes some of the most recognizable recent developments in Northern Virginia and D.C. This track record was a key factor in attracting investment from Boundary Companies.
Among its notable projects is The Exchange at Spring Hill Station in Tysons, a large-scale residential development featuring 478 apartment units. This project showcases the firm's ability to manage high-density urban housing projects.
The firm also contributed to other landmark developments, including:
- The Boro: A major mixed-use district in Tysons that integrates residential, retail, and office space.
- CityCenterDC: A prominent mixed-use development in downtown Washington, D.C., known for its luxury condos and high-end retail.
This extensive experience across various project types, from residential complexes to large-scale urban centers, has established Lessard Design as a versatile and reliable architectural partner. It is this foundation that the new investment aims to build upon.
The Strategic Advantage of the Partnership
The collaboration between Lessard Design and Boundary Companies is mutually beneficial. For Lessard, it provides the necessary resources to scale its ambitions. For Boundary, it represents an investment in a proven firm with a strong design pedigree and significant growth potential.
John Wilkinson of Boundary Companies praised Lessard Design's three-decade track record and its consistent ability to deliver high-quality design. This reputation for excellence makes the firm an attractive partner for a real estate investor looking to back established talent.
The integration of real estate investment acumen with architectural design creates a powerful synergy. Lessard Design will gain a deeper understanding of the financial and market drivers behind development projects, which can inform its design process. At the same time, Boundary Companies gains direct insight into the architectural side of the business, potentially creating new opportunities for collaboration on future developments.
Ultimately, this partnership positions Lessard Design to not only continue its legacy of quality design but also to elevate its presence on a national stage, tackling projects that will shape cityscapes for years to come.