Peter joined his father’s small general contracting firm business in the late 1940s, Tony DePaul & Son. By the 1950’s Tony DePaul & Son had developed from a small general contractor into a highway construction and utility contractor.
Tony DePaul and Son entered into their first million-dollar contract, which involved the reconstruction of the Spring Garden Street Tunnel and a host of other PennDOT projects.
Peter saw the need for apartment housing, building thousands of units throughout Pennsylvania, while fighting through an oil embargo and crippling recession, all while seeing 11 children through various stages of education.
Along with adding more apartments, intuition turned his focus to the acquisition of quarries and other construction material suppliers, as well as the purchase of what eventually became Spring Mill Country Club and Manor.
During this time, Peter was also the co-founder of Eagle Downs Racing Association and Continental Racing Association. A love of horse racing led to a successful stint as President of Keystone Racetrack, which was sold in 1985 and is now Parx Casino. Peter then took up golf and became a solid player. He also co-founded Madison Bank in 1989, which is now a part of Tompkins Bank.
The 1990’s saw ambitious purchases of land in Whitemarsh and West Palm Beach, and the opening of four assisted living facilities in Pennsylvania and New Jersey.
All of these, and subsequent acquisitions, including the $73 million construction of Dockside at Penn’s Landing, were realized through a singular will, a vote of one to zero, motion carried, a steely resolve that the investment would bear fruit, not through spreadsheets or projections, but through his unbending ambition, his intuition and belief in his instincts.
Philanthropist and Mentor
Along with the breadth of these accomplishments, he was able to network and develop lasting friendships with mayors, governors and at least two presidents. He served on numerous Boards, including a stint on Pennsylvania’s prestigious Judicial Discipline Board.
Peter always took a keen interest in helping those with challenging medical situations, referring them to the right doctor or hospital, helping to obtain an expedited appointment or exam, while displaying a personal interest in a successful outcome.
Charitable and generous every day in his life, he was impactful to many local schools. When his sons attended La Salle, you would often find him in the kitchen at their Annual Auction, with his best friend Bill Meehan, with his sleeves rolled up carving the turkeys. In 2011, he received the Fournier Medal for Distinguished Service to the Mount Saint Joseph Academy.
1993 Purple Aster Award Honoree
Served on the Board of Trustees at Temple University
Served on the Board of Directors at Philadelphia Heart Institute and Presbyterian Medical Center.
Peter was a major benefactor to Thomas Jefferson Hospital, the Philadelphia Convention Center, LaSalle College Highschool, Mount Saint Joseph Academy, Norwood-Fontbonne Academy and Gwynedd Mercy Academy.
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