Don Peebles
Don Peebles (Photo by Matthew Eisman/Getty Images for Haute Living)

Don Peebles continues to make some major power moves.

Earlier this month, the millionaire developer received approval for a $1.2 billion project in downtown Los Angeles. The project includes two hotels, retail space, rental and condo units and a charter elementary school.

According to The Real Deal LA, the “centerpiece tower will rise 88 stories, making it one of the loftiest skyscrapers on the West Coast.”

Peebles is among the most successful CEOs in the country. Black Enterprise has previously named him among the top 40 most “powerful African-Americans in business.”

Don Peebles deal
Angels Terrace (Photo via Angels Landing Partners)

Peebles, whose net worth is reportedly $700 million, told The Real Deal LA the project was “part of creating a center of attraction for people who are there.”

Peebles is the founder and chairman of the Peebles Corporation. According to the company’s website, it is “one of the country’s few national privately held real estate investment and development companies with a multi-billion dollar portfolio of projects in New York, Washington D.C., Philadelphia, Boston, Miami and Miami Beach.”

It looks like Peebles can now add Los Angeles to his growing list of accomplishments.

Read The Real Deal LA’s full interview with Peebles here