Charles Paret

Charles Paxton-Paret is a prominent figure in real estate development, serving as the Principal and Managing Partner at Coloma River LLC. His involvement in various development projects has attracted both attention and controversy, particularly regarding community relations and business practices.

Background and Career

Paret has been associated with several development initiatives in Washington, D.C., particularly along Kennedy Street. His firm, Coloma River, has been involved in multiple projects, often in collaboration with other developers. However, his tenure has not been without challenges; he faced significant backlash from the local community after an incident involving the attempted eviction of a local coffee shop, La Coop Coffee, during the 2020 election night. This event raised concerns about his business ethics and community engagement.1

Controversies

The relationship between Paret and the community has been strained due to allegations of improper conduct in his business dealings. Reports indicate that he has been involved in lawsuits related to the mismanagement of investor funds and has faced claims from former partners who described their experiences with him as detrimental. One notable partner, Mel Negussie, publicly expressed regret over their collaboration, indicating that Paret's actions had significant negative repercussions for their joint ventures.1

Current Status

As of late 2021, Paret transferred ownership of several LLCs associated with his projects to Negussie amid financial difficulties that he reportedly faced. This transition suggests a shift in his role within the company and raises questions about the future of Coloma River's developments.1 Despite these challenges, Paret continues to be a notable figure in the D.C. real estate scene, although his reputation has been marred by past controversies.

In summary, Charles Paxton-Paret is a key player in real estate development through Coloma River LLC, but his career is marked by significant challenges and controversies that have impacted his relationships with both partners and the community.