Beyond the ordinary

LOTT Board Member Margaret Chase  and her partner.

A Legacy of Vision, Community Investment, and Shared Success

Founded in February 1985, LOTT Enterprises was established through the vision and determination of three community leaders—Elmer Brown, J. Ogden Thomas, and Leroy Thompson—who
believed that economic opportunity could be created through collective ownership and investment.
The company, LOTT, is derived from the founders names: Leroy, Ogden, Thomas, and
Thompson. Joined by twenty-seven additional investors from the local Black community, they formed
a corporation dedicated to creating opportunities for Black-owned businesses and strengthening the
economic future of St. Mary's County, Maryland.
The founders; first project focused on the former; Two Spot nightclub, located on approximately
eight acres along the southbound side of Route 235, one of the county's busiest commercial
corridors. The building was structurally sound, already housed two Black-owned businesses and a
residential apartment, and was producing rental income. The founders envisioned transforming it into
a business incubator where Black entrepreneurs and organizations could establish and grow their
businesses while creating lasting economic benefits for the community.
The concept was enthusiastically embraced. Friends, family members, and community supporters
collectively invested in purchasing the property from J. Ogden Thomas and Leroy Thompson. Most
investors contributed $5,000, while others invested even more, creating a corporation built on
transparency, shared decision-making, and equal participation. The founders firmly believed that
every shareholder deserved a voice, regardless of the size of their investment, and this commitment
to fairness became one of LOTT Enterprises; defining principles.
Shortly after the corporation was formed, plans by the State of Maryland to widen Route 235 and
relocate the entrance to Patuxent River Naval Air Station dramatically changed the company's future.
The expansion required the demolition of the Two Spot building, making the original business plan impossible to pursue. Rather than abandoning their vision, LOTT Enterprises shifted its focus toward broader commercial and residential real estate development.
The transition required significant investments in engineering studies, architectural designs, legal
services, marketing, and development planning. Because local financial institutions were unable to finance the project at the time, LOTT secured a major loan through John Hanson Bank. When
economic conditions changed and the loan was called, the corporation faced one of its greatest challenges. The principal investors responded by purchasing additional shares to protect the
company while ensuring that the interests of every shareholder—including the smallest investors—remained protected. Throughout these difficult years, the founders consistently rejected recommendations to dilute or eliminate smaller ownership interests, choosing instead to honor the trust their fellow investors had placed in them.
As the company evolved, LOTT Enterprises established successful investment partnerships with local developer Tom Waring, participating in several hospitality developments, including the Hampton Inn and Fairfield Inn in Lexington Park. Over time, local financial institutions became willing lending partners, allowing the company to expand its real estate holdings through the acquisition of residential properties.
Today, more than four decades after its founding, LOTT Enterprises continues to build upon the vision established by its founders. Concentrating primarily on residential rental properties, the company remains committed to responsible investment, community partnership, and long-term wealth creation.
Its history is a testament to the power of perseverance, collective ownership, and principled leadership. The legacy of Elmer Brown, J. Ogden Thomas, Leroy Thompson, and the original
investors continues to inspire LOTT Enterprises as it creates opportunities for future generations and
demonstrates what can be accomplished when a community invests in itself.