From Dotcom Startup to Real Estate Innovator: The Journey of Plesset Management & Development
Introduction:
The story of Plesset Management & Development (PMD) is one of transformation, resilience, and community impact. Since its founding in 1997, PMD has evolved from a technology startup into a successful real estate management and development company, all while staying true to its commitment to quality and community service. In this post, we’ll take you through the key milestones of PMD’s journey, from its Dotcom origins to its pivot during the pandemic, and how a focus on doing good has remained at the heart of everything they do.
The Dotcom Beginnings: Halo Technologies (1997-2000)
PMD’s story begins in the height of the Dotcom boom with Halo Technologies. Founded in 1997, Halo specialized in application development and information architecture, working with major clients such as Pepsi, Western Union, and the University of Pittsburgh. As the internet revolution swept through industries worldwide, Halo was right at the forefront, helping businesses adapt to the digital age. The startup thrived during this period, but by 2000, PMD made a strategic decision to exit the technology space and shift its focus toward real estate management and development.
Transition to Real Estate: Shadyside Inn and Noble Towers (2000-2020)
The first major pivot for PMD came in 2000, when it moved into the real estate management field with the acquisition of Shadyside Inn All Suites Hotel. Located in Pittsburgh’s upscale Shadyside neighborhood, the hotel offered 120 extended-stay apartment suites. These suites combined the convenience of a hotel with the comfort of home, attracting a diverse range of guests, from professors and hospital patients to movie stars and astronauts.
Under PMD’s leadership, the hotel saw remarkable growth, tripling its net revenue and earning a reputation for excellence. In parallel, PMD also took ownership of Noble Towers, a 133-unit affordable housing community that served elderly and disabled residents. Noble Towers consistently garnered recognition as one of the best affordable housing communities in Pittsburgh, highlighting PMD’s dedication to serving both high-end and underserved communities.
A Commitment to Community: Co-Founding No Dog Left Behind
Throughout its history, PMD has always prioritized community involvement, and this commitment extended beyond real estate. In 2012, PMD became a founding member of the Pittsburgh Aviation Animal Rescue Team (PAART), an organization dedicated to rescuing at-risk animals and transporting them to safety. By 2020, the organization rebranded as No Dog Left Behind (NDLB), a non-profit that has rescued over 14,000 animals across the eastern United States.
PMD has been instrumental in running the organization, flying hundreds of rescue flights and helping NDLB grow into the impactful organization it is today. For PMD, this commitment to community service is just as important as its business ventures, proving that doing good can go hand-in-hand with entrepreneurial success.
The Pandemic Pivot: Shadyside Inn to Shadyside At Home Apartments (2020)
When COVID-19 hit in 2020, PMD faced an unexpected challenge that could have spelled disaster for their business. The Shadyside Inn All Suites Hotel closed its doors after 35 years of operation, as travel restrictions and health concerns made long-term hotel stays untenable. But PMD’s adaptability and entrepreneurial spirit kicked in quickly.
By July 2020, PMD had transformed the hotel into Shadyside At Home Apartments, converting all 120 suites into long-term, unfurnished apartments. Despite the massive pivot, every single suite was rented out within weeks, demonstrating the resilience and flexibility of PMD’s business model. The successful transition from a hotel to apartment community during such an uncertain time became a case study in turning adversity into opportunity.
The Future of PMD: What’s Next?
As PMD looks toward the future, it remains committed to its founding principles: providing quality products and services, making a positive impact on the community, and evolving with the times. The company continues to explore new opportunities in real estate development while staying involved in charitable causes like No Dog Left Behind.
Conclusion: Resilience, Innovation, and Community Impact
The story of PMD is one of perseverance and innovation, a journey that has seen the company adapt to changing markets, challenges, and opportunities while never losing sight of its mission to do good for the community. From its early days as a tech startup to becoming a leader in real estate and social responsibility, PMD exemplifies what it means to build a business that makes a difference.
As we move forward into a new era, we look forward to seeing how PMD continues to evolve, grow, and make an impact—not just in the real estate world, but in the lives of those it serves.
