CORNERSTONETRACY
CornerstoneTracy, LLC was created in 2016 when David Della Porta and Donald Tracy partnered to recast Cornerstone Communities, the preeminent developer of luxury apartment communities in the Philadelphia area founded by Mr. Della Porta in 1996. Combining resort-style amenities, boutique hotel services and trend setting architectural design, the company's properties have become market leaders in the Class-A apartment segment. Strong joint venture relationships and a solid base of long-term equity and debt partnerships enable CornerstoneTracy to execute large scale, complex apartment and mixed use developments. The partners' combined history has resulted in the development of over 5,000 apartments over the last 20 years. Adding unparalleled local market knowledge to time-tested experience, CornerstoneTracy and its partners have a history of acquisition and development in walkable, transit-oriented, urban and suburban locations. The company is expanding on that foundation, actively growing its development pipeline by pursuing a more diverse ownership and investment strategy within a broadened geographic market place.
DAVID DELLA PORTA
Prior to forming CornerstoneTracy, David Della Porta managed Cornerstone Communities, a firm he founded in 1996. Over a 20-year period the company grew to become the largest developer of multi-family housing in the Philadelphia suburbs. Cornerstone Communities has been noted for leadership in "Smart Growth" and "Green" design. The company has won numerous Community of the Year awards and earned Builder of the Year honors from the Main Line Builders Association in 2006 and 2008.
In addition to rental communities, Cornerstone developed and sold over 1,000 single family homes and building lots throughout the Delaware Valley. From 1986 to 1996, Mr. Della Porta was a principal of a major regional home building company where he oversaw the acquisition, development and sale of more 3,000 homes in the Philadelphia suburbs.
Mr. Della Porta is a past president of the Main Line Builders Association and a member of the National Multi-Housing Council and NAHB.
DONALD A. TRACY II
An industry veteran with over 20 years of experience in all aspects of development and ownership, Mr. Tracy has a substantial track record of production involving a wide range of asset types including multifamily and mixed-use developments totaling over 3,000 units completed, under-construction or in-development, with a total cost in excess of $700,000,000.
Prior to forming CornerstoneTracy, Mr. Tracy was Vice President of LCOR, Inc. where he led the Philadelphia area regional development office and was responsible for the pursuit and implementation of new development and investment opportunities in Philadelphia and the surrounding region. Most notably, Mr. Tracy led the development of 1919 Market Street, a nearly $150,000,000 mixed-use high-rise project in Center City Philadelphia Previously he was Vice President of Bozzuto Development Company where he managed the firm's strategic growth of investment and development opportunities in Greater Philadelphia along with select projects in Maryland. He formerly held roles in construction operations, pre-construction and property management.
Mr. Tracy is a graduate of The Smeal College of Business at Penn State University. He is an active member of the Urban Land Institute NAIOP and the National Multi-Housing Council.
The following communities are examples of Mr. Tracy's multi-family development experience prior to forming CornerstoneTracy:
1919 Market Street, Philadelphia PA
321 units, high-rise, 25k sf retail, 216 space public parking, LEED Gold.
The Beacon at Waugh Chapel, Gambrills MD
298 units, mixed-use mid-rise
Wyomissing Square, Wyomissing PA
248 units, brownfield, mixed-use redevelopment
Riverwalk at Millennium, Conshohocken PA
375 units, brownfield, urban infill mid-rise development
Swedesford Square, Malvern PA
244 units, suburban mid-rise, predevelopment
Verandas, Newtown Square PA
250 units, suburban mid-rise, predevelopment
Village at Valley Forge, Valley Forge PA
360 units, mixed use town center planning
