News

Baltimore Business Journal: Apartment Deals Lead Lending Revival

January 27, 2012

Toby Bozzuto said he couldn’t have closed on $279 million worth of financing for new apartment construction three years ago.

Securing that kind of funding during the depths of the recession wasn’t possible for Bozzuto Development Co. or many other firms. That led to development coming to “a screeching halt” in 2009, Bozzuto’s Development Co.'s president said. Banks began walking away from commitments following the weakening of the economy. As a result, few new apartment developments… Continue reading

Multi-Housings News: Tom Bozzuto Facebook Chat Transcript

January 25, 2012

New York—Tom Bozzuto, CEO of The Bozzuto Group, a real estate firm based in Greenbelt, Md., participated in a live chat on Tuesday, January 24th, on the MHN Facebook page to answer readers’ questions.

Below is the transcript of the chat session.

Tom Bozzuto: Good morning, everyone. I’m happy to be here.

Question: Thanks for being on the cutting edge. Please spend a little time discussing how BMC [Bozzuto Management Company] is leveraging social media to extend your brand.

Bozzuto: We believe… Continue reading

Architect Magazine: Family Sized

January 09, 2012

Developers are targeting recession-minded renters as well as innovative funding sources with multifamily housing projects that emphasize amenities and community.

Looking at renderings of Union Wharf, a project that broke ground in December in Baltimore’s historic Fells Point waterfront community, it’s difficult at first to decipher who the project serves. The mid-rise structure could be a resort, with its infinity pool and yoga studio overlooking the city’s harbor. It could be a boutique hotel,… Continue reading

Multifamily Executive: Charm City Giants -- Q&A With Bozzuto Development President Toby Bozzuto

December 15, 2011

In the space of only eight days, the Greenbelt, Md.-based Bozzuto Group announced nearly $200 million in new development across two marquee projects in the Baltimore and Washington, D.C., metros. The first, Cathedral Commons, a mixed-use development to be anchored by a state-of-the-art Giants grocery store across the street from the National Cathedral is set to begin construction in early 2012. In addition to the 50,000-square-foot grocer, the development will feature 137 apartments and eight townhomes with amenities… Continue reading

Multi-Housing News: Bozzuto Breaks Ground in Baltimore

December 14, 2011

The Bozzuto Group broke ground yesterday on Union Wharf, a $72 million mixed-use waterfront community located in Baltimore’s Fells Point neighborhood. The project will bring 281 upscale units and 4,500 square feet of retail to the area upon completion.

The development is being financed in part through a partnership between Bozzuto, CIGNA and Pritzker Realty Group, a Chicago-based real estate investment company, and a construction loan from PNC Real Estate.

“The Union Wharf development project is… Continue reading

Baltimore Business Journal: Bozzuto Breaks Ground on $72M Union Wharf Project

December 13, 2011

The Bozzuto Group broke ground Tuesday on Union Wharf, a $72 million residential and retail development along the Fells Point waterfront.

Union Wharf will include 281 apartments, 4,500 square feet of retail space and nearly 500 parking spaces. The upscale residential project is located at the intersection of Thames and South Wolfe streets.

The undeveloped site overlooks the Inner Harbor on the eastern edge of the Fells Point peninsula. The Baltimore City Planning Commission approved designs on the project in… Continue reading

Baltimore Sun: Bozzuto Breaks Ground on Union Wharf Apartments

December 13, 2011

The Bozzuto Group, long interested in building apartments on a parcel alongside the Fells Point waterfront, is officially breaking ground there today for a 281-unit upscale complex.

The project, part of the Union Wharf mixed-use development, will include nearly 5,000 square feet of commercial space that Bozzuto expects will be used by a restaurant.

The apartment market is yin to the housing-market yang, with rents rising and vacancies improving over the last few years while sale prices have fallen. Bozzuto… Continue reading

The Daily Record: Bozzuto Moving Forward with Fells Point Luxury Apartments

December 12, 2011

A month after a Fells Point waterfront property was sold by a local developer to the Bozzuto Group for $9.5 million, the builders are moving forward with construction of a 281-unit luxury apartment mixed-use complex this week.

Union Wharf is scheduled for a groundbreaking ceremony Tuesday morning, said Jeff Kayce, a Bozzuto vice president in charge of the Baltimore development, but site development and an environmental cleanup is already underway.

The $72 million project will be adjacent to two other prominent… Continue reading

Multi-Housing News: Bozzuto Group to Do Another Major Mixed-Use in D.C.

December 08, 2011

Giant Food of Landover, Md., has picked the Bozzuto Group as partner for its development of Cathedral Commons, a mixed-use project in northwest Washington, D.C. The project will include 137 apartment units and eight townhomes, more than 500 parking spaces, and 128,000 square feet of retail anchored by a redeveloped Giant Food supermarket location.

Cathedral Commons will be on about four acres on Wisconsin Avenue between Macomb St. and Idaho Ave., bordering the neighborhoods of Cathedral Heights and Cleveland… Continue reading

Washington Business Journal: Giant Food picks The Bozzuto Group for Cathedral Commons

December 05, 2011

District-based The Bozzuto Group has been tapped by Giant Food LLC to develop the Cathedral Commons mixed-use project in Northwest D.C.

The $125 million, two-block project -- which will include 137 apartment units, eight townhomes and more than 500 parking spaces -- will replace a long-obsolescent Giant Food store on Wisconsin Avenue and bring to a close a long and contentious fight from some residents of the Cleveland Park and Cathedral Heights neighborhoods opposed to the project.

Cathedral Commons will be… Continue reading