About Us
Forging a better tomorrow since
2011
Innovation
Pioneering groundbreaking solutions, harnessing technology, and embracing creative thinking to reshape the future of construction and development.
Quality
Uncompromising standards, meticulous craftsmanship, and a commitment to excellence, ensuring every project reflects our dedication to perfection.
Sustainability
Integrating eco-conscious practices, minimizing environmental impact, and fostering future-focused developments that benefit communities and nature.
Mission & Vision
At Petra Development, our mission is to create exceptional built environments that enrich lives, promote sustainability, and contribute to the advancement of communities. Through our unwavering commitment to quality, innovation, and ethical practices, we aspire to be a catalyst for positive change, forging a better tomorrow for all.
Our vision is to be a leading force in the construction and real estate development industry, recognized for our unparalleled dedication to excellence, our transformative projects, and our role in shaping a sustainable and vibrant future. We aim to continuously push the boundaries of creativity and innovation, leaving a lasting positive impact on the built environment and the lives of those we serve.
Over 12 years of experience.
Petra Developments takes pride in its 12 years of invaluable experience, during which it has consistently demonstrated expertise and innovation in the field, earning a reputation for delivering high-quality projects and solutions to its clients.
$2B+
Asset Value
3,250
Total Number of Units
5M+
Gross Square Footage
650
Total Number of Hotel Keys
Our Approach
Sustainability is paramount at Petra Development because we believe in building a better world. We recognize our responsibility to minimize environmental impact, create lasting value for communities, and shape a future that balances economic growth with environmental stewardship. By prioritizing sustainability, we not only meet the needs of the present but also ensure a thriving, resilient, and harmonious tomorrow for generations to come.
Our commitment extends beyond construction.
Petra Development sets itself apart through a holistic sustainability approach. We not only incorporate eco-friendly designs but also integrate responsible sourcing, green technologies, and community engagement.
Certification Partners
Our Team
Rashid Salem
Founding Principal
Rashid, Petra’s Founder, propelled the firm to national prominence through years of exponential growth. Based in Dallas, TX, he prioritizes integrity, transparency, and innovative solutions for high-end development while addressing affordable housing challenges. The brand “Petra” signifies the strong foundation of his projects, surpassing traditional real estate aesthetics and improving lives.
Eli Borek
Chief Development Officer
Eli excels in generating, entitling, and managing development opportunities. With expertise in investment analysis, architectural design, master planning, and project management, he has overseen $500M+ in mixed-use projects, including 900,000 square feet of office space, 3,500 residential units, and 100,000 square feet of retail. A Tufts University alumnus, Eli resides in Washington, DC.
Laura Fernandez
Director of Design
Laura is a licensed architect with over 10 years of experience in mixed use and multifamily buildings, she specializes in creating efficient layouts in unique urban locations. Laura has experience managing complex building projects from entitlement through construction. She graduated from the University of Miami with a Bachelor of Architecture and an emphasis in Real Estate Development.
Jonathan Kim
Director of Business Operations
Jonathan is the Director of Business Operations for Petra Development and has been with the company since 2017. His responsibilities include ensuring that the business – its people and processes – work smoothly, efficiently, and productively day-to-day. Jonathan is a University of Maryland alumnus with a focus in Economics. And currently resides in Dallas-Fort Worth area.
Andrew Klamon
Development Manager
Andrew holds degrees in Architecture, Urban Design, and Real Estate from Notre Dame, Cornell, and NYU. With 18 years of expertise in Real Estate Development, he has a unique skill set to keep projects on track from concept creation, and financial underwriting through project stabilization. Andrew, currently a registered architect, has a track record of successfully delivering challenging and complex projects.
Saul Ramirez
Director of Government Relations
Saul is an expert in management, housing, and economic development, and dedicates his career to empowering communities. Operating a consultancy in affordable housing, he collaborates with the Petra team on business-government relations. Formerly President of Global Reconnect, LLC and CEO of NAHRO, his proven record showcases transformative leadership.
Brendan Scanlon
Capital Markets
Brendan, a Boston College and Johns Hopkins University graduate, started his real estate career in 2002 and has arranged capital for real estate transactions since 2008. As a part of Petra’s Capital Markets Group, Brendan has over 15 years of expertise in capital placement within a national commercial real estate services firm under his belt after completing his graduate business degree.
Bruno Vega
Director of Construction
Bruno, a Virginia Tech-educated professional in Building Construction & Real Estate Development, excels in project scheduling and budget management. With a background as a Construction Manager at local consulting firms, he has successfully managed projects across portfolios exceeding $3 billion, prioritizing client satisfaction and project efficiency through a consultative approach.
Cara Yelverton
Director of Marketing
Cara, Petra’s Marketing Director, was Executive Creative Director for a major non-profit, boosting revenue, engagement, and sales. With 10+ years of transformative leadership, she excels across industries like colleges, law firms, non-profits, creative agencies, and national moving companies. A Brookhaven Community College graduate, she expanded her education with a bachelor’s in digital marketing.