Five generations
of stewardship
1929
First Generation
ENGINEERING TO
ENTREPRENEURSHIP
William Henry Dolben, after years shoveling coal into a boiler as a stationary engineer and working his way up to managing buildings in downtown Boston, sets out to open his own real estate company.
(L-R) Edith (Howland), Alfred H., William H. Jr., William H. Sr., Warren H., and Arthur J. Dolben
He hangs a shingle at 161 Devonshire Street
Thanks to the Stock Market Crash, he’s bust by Christmas. But he pushes on, managing foreclosed properties for the Equitable Life Assurance Society and Tufts University through the Depression.
1939
Second Generation
WILLIAM H. DOLBEN
& SONS
Three of William H.’s four sons join him in business: Al in 1939, and Art and Bill in 1945 upon returning from service in the US Army after WWII. William H., affectionately known as Pa by that time, passes away in 1948.
The property management business declines after the Depression, but the boys, now the principals of William H. Dolben & Sons, diversify their services to include mortgage brokerage, appraisals, and property management.
40 Court Street
In 1959, the three brothers, one property manager, and one secretary move to 40 Court Street, where they share 1,200 sq. ft. of office space.
Alfred H. Dolben, Arthur J. Dolben, William H. Dolben, Jr.
Alfred H. Dolben
Arthur J. Dolben
William H. Dolben, Jr.
“Would any damn fool agree with the valuation in my appraisal?”
Alfred H. Dolben
1961
Third Generation
GENERATIONAL
CHANGE
Following his Uncle Arthur's passing in 1961, Don Dolben joins the firm.
He enters a business prone to high turnover— the average life of a management assignment lasts less than five years.
Donald C. Dolben in 1967
Marlborough
Nashua
Brokerage was lucrative but good deals were few and far between. To counter this, Don wants to own real estate. In 1971, he works with his Uncle Bill to buy the company’s first apartment communities in Nashua, NH and Marlborough, MA. It is their first foray into multifamily housing.
In 1973, Don also begins meeting once a week with local bank presidents. The company begins managing properties reclaimed by those same banks through foreclosures. By 1975, William H. Dolben & Sons manages 3,000+ apartment units.
The office at 40 Court Street
expands to roughly 2,000 sq. ft.
“What I needed was a client that would pay me the going rate, never fire me, and always love me. That client was looking at me in the mirror. I needed to be the owner!”
Donald C. Dolben
Fourth Generation
the Dolben
Company, Inc.
1982
Bill retires in 1980, Drew and Deane, Don’s sons, join the business in 1982 and 1984 to work alongside Don and his nephew, Dana Pope.
(L-R) Dana G. Pope, Donald C. Dolben Andrew K. Dolben, Deane H. Dolben
Drew moves the company into development, while Deane runs the day to day operations at the newly rebranded DOLBEN.
Summit Terrace, Reading, MA
Crofton Village, Crofton, MD
After making a pact to weather hard times together in the 1980s and early 1990s, the firm comes out on top and begins to expand into new markets, including Maryland, Virginia, Michigan, and Ohio.
In 1989, they open their second corporate office in Rockville, Maryland to help manage their growing Mid-Atlantic portfolio.
In 1998, after having offices located on Devonshire, Court, State, and Beacon Streets for 69 years, the company leaves downtown Boston to open an office in Burlington. They stay there until 2008 before moving to Woburn.
150 Presidential Way, Woburn, MA
Pan Mass Challenge
During this period, DOLBEN also becomes a major supporter of the Pan Mass Challenge, a bike-a-thon benefiting the Dana-Farber Cancer Institute. The annual event becomes a mainstay of company culture.
$50,85.00
Amount Raised 2000
With expansion came a number of acquisitions. Watching the growth unfold in real time is a great reflection of the hard work put in by the entire DOLBEN team.
2013 &
Beyond
Fifth Generation
BUILDING FOR
THE FUTURE
In the 2010s, Joe, Matt, Teaghan, and Drexel enter the business. As with previous generations, they begin from the ground up, working their way through various positions before transitioning into leadership roles as the business grows.
All are graduates of Dolben’s Management Trainee Program and/or Dolben University, both proprietary programs.
(L-R) Drexel M. Costello, Teaghan P. Costello, Matthew K. Dolben, Joseph H. Dolben
The Residences at Great Pond
The company’s corporate office space in Woburn, MA and Odenton, MD continues to expand to accommodate our growing team of more than 450 employees—each of whom has been essential to DOLBEN’s success.
150 Presidential Way, Woburn, MA
Where We Are Today
Properties owned or Managed
“Our goal is continued growth guided by the stewardship and vision instilled by the past four generations.”
Joseph H. Dolben & Matthew K. Dolben
building for generations to come.
