Taylor Chess has been named president of development for the Peterson Cos, signifying a changing of the guard at the Fairfax-based development firm. Milt Peterson will remain onboard with the 50-year-old company, serving as principal and chairman.

Chess was promoted to president of retail for Peterson in December 2012. His many responsibilities included taking an active role in managing retail assets and properties, overseeing legal, leasing and construction, and seeking new development opportunities. He will implement the company’s vision in his new role and help to position it for future growth. Chess will be speaking at our Future of Prince George’s County event this afternoon.

Peterson has always regarded itself as a small and flexible company, but it has made quite the mark on the DC region. Project highlights include Fair Lakes, downtown Silver Spring, Virginia Gateway and Fairfax Corner. Paul Weinschenk will rejoin the company to fill Chess’ role as president of retail. He is a Peterson veteran, having been with the company for 16 years until February 2013, when he left to join Washington Real Estate Investment Trust. [WBJ]