Veteran developer Jonathan Davis is handing the reins of his eponymous development firm over to his son, Stephen Davis, who will take over as CEO of The Davis Cos. on Wednesday.
The transition was announced on Thursday to the firm’s 118-person workforce. Jonathan Davis, 73, will still be involved as executive chairman at the company, one of Boston’s biggest and oldest development firms. He founded it 50 years ago, and his family continues to own it. As executive chairman, he will focus on strategy, advising, investor engagement, deal sourcing, and helping complete transactions. Stephen Davis, 44, joined the business more than 16 years ago, and has served in multiple leadership roles there, most recently as its president.
While the firm works in a number of East Coast states, it has continued to be a major player in the Boston area.
Its recent development projects include the Omni Hotel in the Seaport, the lab building at 66 Galen St. in Watertown, and a 253-unit apartment building on Comm. Ave. in Brighton. Davis is also redeveloping a roughly 100-acre former tank farm in Everett into a mixed-use development, with proposals there ranging from apartments to a large battery farm.
Jon Chesto can be reached at jon.chesto@globe.com. Follow him @jonchesto.