Development Services Group
Memphis, TN 11–50 employees 5 principals
Last updated by Dawn
About Development Services Group
Development Services Group is a real estate operator headquartered in Memphis, TN. Development Services Group operates in Atlanta, Georgia, Dallas, Texas and Houston, Texas. Its investment focus is on Hospitality, Hotel-to-Residential and Multifamily - Ground-up.
Development Services Group (DSG) is a private commercial real estate investment, development, and operating firm headquartered in Memphis, Tennessee. Founded by President and CEO Gary Prosterman, the company has completed over 30 years of continuous nationwide operations. The boutique institutional developer maintains a lean executive and project workforce of approximately 11 to 50 real estate, design, and financial specialists. The corporation concentrates its business model on a full-service commercial platform with a primary emphasis on historic preservation and adaptive reuse. Its operational framework manages property acquisition, capital sourcing, architectural coordination, and construction oversight from project initiation to final delivery. The firm specializes in utilizing state-sponsored historic tax credits to transform underperforming legacy structures into institutional assets, including boutique luxury hotels, urban mixed-use complexes, and multifamily residential buildings. The organization's geographical investment footprint spans high-barrier urban markets across the United States. Development Services Group has completed more than 70 real estate projects with a cumulative portfolio valuation exceeding 1,000,000,000 dollars. Its high-profile adaptive reuse transformations feature the Kimpton Harper Hotel in Fort Worth, The Candler Hotel in Atlanta, and multiple Le Meridien hospitality properties in Houston, Tampa, and Philadelphia. Additional prominent residential developments include The Victor Apartments in St. Louis and The Rise Apartments within the Edge District revitalization hub in Memphis.