- UNION WHARF WEBSITE SELECTED AS OFFICIAL HONOREE OF THE INTERNET'S MOST RESPECTED SYMBOL OF SUCCESS
- TOM TALK
- 2014 Chili Cook-off Winner
- Bozzuto Celebrates Seven Year Luncheon
- Bozzuto Again Bestowed with Best Places to Work Award
- 2014 JDRF Real Estate Games
- Toby Bozzuto Named One of the Most Influential Marylanders
- Stephanie Williams Talks to CNBC about the Future of Renting
- Top-Notch by Bozzuto - Concierge Training featured in The Washington Post
- Too Many Cooks Spoil the Soup?
- 2014 Bozzuto Management Awards
- Improper Bostonian Holds Spring Fashion Celebration at The Kensington
- Cadence Rocks the Battle of the Bands
- 460 New York Avenue Holds Preview Party
- Man’s Best Friend Lends a Paw for Bozzuto
- Bozzuto Homes Breaks Ground on Boutique Condos on D.C.'s V Street
- BHI Wins Big at MAX Awards and PROS Awards
- Maple Lawn New Models Event
- New Information System and Employee Engagement Survey
- MSM Adds Two New Retail Tenants, Farmers Market
- Cathedral Commons Signs seven new retail tenants
- BCC Shows Strong Presence at ULI Trends
UNION WHARF WEBSITE SELECTED AS OFFICIAL HONOREE OF THE INTERNET'S MOST RESPECTED SYMBOL OF SUCCESS
Union Wharf, Bozzuto’s newest signature community in Baltimore, has been selected as an Official Honoree in the 18th Annual Webby Awards, the leading international awards program honoring excellence on the Internet.
One of just six honorees, Union Wharf's website features an unexpected mix of texture, colors and perspective to incorporate the idea behind the community’s “Perfect Union” philosophy.
Website honorees are selected for recognition based on excellence in content, structure and navigation, visual design, functionality, interactivity, and overall experience. Out of 12,000 entries from more than 60 countries and all 50 U.S. states, the Official Honoree distinction is awarded to only the top 15% of all work entered.
“Honorees like The Bozzuto Group are setting the standard for innovation and creativity on the Internet,” said David-Michel Davies, executive director of The Webby Awards.
“It is an incredible achievement to be selected from among the some of the best websites on the Internet," said Toby Bozzuto, president, The Bozzuto Group. "Here at Bozzuto, we are invested in every facet of our communities and we hope that our vision translates to a wonderful online experience, as well.”
I want to use this column to talk about diversity and inclusion in our company. I have been thinking about this issue for quite some time and the more I think about it, the more I reflect on the fact that our employees and customers represent the complete spectrum of diversity in 21st century America. If you visit any of our properties, rentals or homes for sale, you will see this first hand. Our customers represent every race, gender, religion and sexual orientation, and as the person charged with making sure this company is prepared for the future, I want to make sure that we are in the best possible position to understand the needs and desires of our customers. We want them to love where they live or where they may consider living.
Furthermore, our employees similarly reflect modern America. The last time I heard a count, we had people born in more than 52 countries working for the Bozzuto Group, men and women from every state in the union, people of every race, religious affiliation, cultural association and sexual orientation. And as someone who has always believed that talent doesn’t discriminate, I want to make sure we are doing nothing that would hinder our ability to identify and promote the best and brightest amongst us.
For those reasons, early last year, I approached Stephanie Williams and Kristen Reese to ask them to help us think through this issue. Attacking the question with the enthusiasm and vigor those of us who know these women would expect, they immediately set up a diverse committee of people representing every department within our company. They met to discuss the topic and then hired a firm that specializes in working with corporate and non-profit groups to make sure they were addressing the issue of diversity and inclusion in an intelligent manner.
The committee and the consultants met over a two day period and came back with a number of recommendations, one of which was to engage senior leadership in a follow-on meeting with the consultants. That meeting, in which Toby, Rick, Julie Smith, Tom Baum, Mike Schlegel, Dan Murphy, Steve Strazzella and I spent the day, took place a few weeks ago.
So what comes out of this? What are we doing? What does success look like? First off, I’ve explained above why we’re spending time focusing on this issue: we live and work in a diverse workplace with a very diverse customer base and we need to make sure that we are doing nothing, intentionally or not, that would impair our ability to attract and retain the best employees and customers. It’s simple, and that’s it.
So let’s move on to what comes out of this. Like most things, it’s easier to identify what we’re doing by describing what we’re not doing. So, let me state clearly that this is not about diversity training. Don’t expect to get a list of things to do and say, and vice versa. That’s not us. That’s not how we do things. And it is not about setting quotas. That doesn’t do anyone any good.
It is about making each of us sensitive to one fact which we sometimes overlook: that is, although we are all created equal, we don’t all see things the same way. Where we come from--our religion, our gender, our race, and the thousands of other things that help us define who we are-- all affect how we see the world. By reminding us of this fact, perhaps this process we are going through will reinforce our sensitivity in the choices we make, the language we use, and the things we do on a daily basis.
What are we doing specifically? Over the coming months, we will be presenting several opportunities to everyone in the company to reflect on this topic and join the conversation. For our company’s leadership, this will include participating in similar discussions to what the partners and I did with our outside consultants.
Also, for the first time in a number of years, we will be conducting an employee engagement survey to which I expect complete and honest feedback from everyone. In addition, we will be building a cultural awareness education program.
As CEO, I would ask that you participate in these opportunities, support your employees and peers in doing so and actively seek out opportunities on your own to increase your awareness on the subject of inclusiveness.
What does success look like? To be honest, I don’t have all of the answers and nor does anyone else. It is important to me that we all aspire to improve. There is no quick fix on a subject of this magnitude and to that end, improvement will happen over time.
I write about this because I want each of you to know that this process is going on; that we are thinking about this issue; and that we are trying to be more sensitive to the diversity around us. In the end, we want all Bozzuto employees to feel valued and respected and have the skills to understand and work with all of our colleagues, customers and partners.
I hope you will agree with me and the other leaders of the company that being sensitive to the diversity around us and welcoming it with enthusiasm will make us a better company and better people.
2014 Chili Cook-off Winner
Congratulations to BMC Regional Portfolio Manager Megan Pugh, winner of Bozzuto’s 6th Annual Pre- Super Bowl Chili Cook-off!
Bozzuto Celebrates Seven Year Luncheon
More than 300 Bozzuto employees gathered at the Greenbelt Marriot on April 9th Year Award Luncheon. In recognition of their dedication and commitment, employees who have been with Bozzuto for seven years or more enjoyed lunch together and received their annual profit sharing checks. Congratulations to all members!
Bozzuto Again Bestowed with Best Places to Work Award
For the seventh time, and the sixth year in a row, The Bozzuto Group has been selected as one of the “Best Places to Work” by the Washington Business Journal. The winners were selected based on the results of online confidential surveys completed by employees.
In an email to the company, Tom Bozzuto wrote, “We are absolutely delighted to be recognized again by the Washington Business Journal and will continue in our efforts to make Bozzuto not just a great and successful company, but a rewarding place to work,” said Tom Bozzuto, CEO of The Bozzuto Group. “We think this is recognition of the fact that our employees feel challenged, appreciated and motivated, which benefits not only our company, but, more importantly, our customers, our clients, and our partners. Among all honors and awards this company has received, this one means the most because we received it as a result of our employees’ votes.”
2014 JDRF Real Estate Games
On June 5th, Team Bozzuto came out in great numbers and spectacular form to compete at the JDRF Real Estate Games, which helps support research and education to find a cure for type 1 diabetes.
With the help of Team Bozzuto, the Juvenile Diabetes Research Foundation (JDRF) was able to raise more than $400 million dollars nationwide. This is very exciting as the foundation continues to support research for the cure of juvenile diabetes which affects many families, even here at Bozzuto.
Also exciting is that our performance this year outshined our previous year’s performance. Many thanks to everyone who participated in an event and all those who came out to cheer – and huge congratulations go out to our Tug-of-War team, who placed first! For those who don’t know, the Tug-of- War event was the highlight of the day’s events, and Team Bozzuto dominated without any questions. We also had very good showing in other events; below is a list of events and everyone who made it possible for us to make it into the top ranks. Congratulations Team Bozzuto!
- Tug of War (1st Place)
- Megan Pugh
- Alison M. Williams
- Shannon James
- Patrick Sanzi
- Brian Rennie
- Dominique Ellis
- Table Tennis(1st& 3rd Place)
- Kenny Adekunle (1st Place)
- Akinlabi Adewuyi (3rd Place)
- Sack Race (1st Place)
- Tricia Barnhart
- Andrew Bolton
- Heads of Office (Placed 2nd )
- Mark Franceski
- Swimming – 50M Freestyle (Placed 3rd )
- Alison M. Williams
- Swimming – 50M Breaststroke (Placed 2nd )
- Alison M. Williams
- Wrestling (Placed 3rd)
- Matt Bailey
- Lacrosse (Placed 3rd)
- Josh Peters
- Foosball (Placed 3rd)
- Josh Peters
- Beck Vissat
- 4x100 Women’s (Placed 3rd)
- Shakayla Crocket
- Laurie Davidow
- Desiree McCormick
- Tara Ryan
- Tennis – Men’s Doubles (Placed 3rd)
- Stuart Crowder
- Steven Chen
Toby Bozzuto Named One of the Most Influential Marylanders
The Maryland Daily Record, one of Maryland's most established sources for business, law and real estate news, named Toby Bozzuto as one of 2014’s Most Influential Marylanders. Influential Marylanders was created in 2006 to honor individuals who have impacted Maryland’s business community, made significant impacts in their field and have brought services and success to the region. Congratulations, Toby!
Stephanie Williams Talks to CNBC about the Future of Renting
Recently, Bozzuto Management’s very own SVP of Business Development Stephanie Williams was interviewed on camera at Cathedral Commons by CNBC’s Diana Olick about the future of renting. Cathedral Commons is referred to in the segment as “a new way of living – retail and rentals wrapped around each other offering a work/life core within a larger urban setting.” To view the segment, visit the News & Press page of Bozzuto.com.
BOZZUTO MANAGEMENT COMPANY
Top-Notch by Bozzuto - Concierge Training featured in The Washington Post
The Washington Post recently ran a feature story highlighting Bozzuto's concierge training program, interviewing Steven Fretwell about the "Bozzuto Basics" class, online training, and how important the training is to the Bozzuto brand and Bozzuto residents. Julie Smith commented on the need to invest in great customer service, and Clark Pritchett, general manager at the Apartments at CityCenter, reinforced Bozzuto's approach to resident satisfaction by saying, "We don't say no to things."
To read the full story, visit the News & Press page of Bozzuto.com.
Too Many Cooks Spoil the Soup?
Have you ever wondered what the saying “too many cooks spoils the soup” really means? Well, recently the BMC Accounting Team set out to forensically prove its meaning.
Directors and Managers from BMC’s Accounting Team spent an afternoon at Baltimore’s Waterfront Kitchen, with Chef Jerry Pellegrino, for an afternoon of camaraderie and teamwork. In mastering the Art of Soup Making, the team proved that you can in fact have thirteen people in the kitchen and not spoil the soup! Four delicious soups were produced and eaten without haste or waste. Thus, the underlying meaning of the old adage has forensically been proven to be false!
To find out the secrets for soup making, you’ll have to ask those in attendance: Kevin Waters, Gebre Jennings, Tara Goodger, Phyllis Duck, Dameion Henry, Patricia Castle, Vivian Chen, Terri Vincent, Arlene McEachern, Jim Oates, Michelle Bennett, Kathy Stevens, and Cynthia Tanner.
2014 Bozzuto Management Awards
The Bozzuto Management Awards (BMAs) are held each year to recognize the talented employees of Bozzuto Management Company. The event is always an unforgettable night of awards, dancing, and celebration and 2014 was no exception. Held at The National Building Museum on March 13th approximately 1,300 employees and sponsors attended to celebrate the best of Bozzuto!
In addition, Bozzuto's digital marketing team achieved a feat that might possibly be a first for real estate awards - a trending hashtag on Twitter! Using #BMA2014, the trend reached approximately 110,000 accounts and received more than three million impressions.
Congratulations to all of the winners!
Resident Concierge of the Year: Milton Chamberlain, Halstead Arlington
Five Star Award: Flats 130 at Constitution Square
Greatest Increase in Property Value: Overlook Manor
Lease-Up Community of the Year: Halstead Square
Resident Services: Flats At Atlas
Resident Choice: Madox
Ratings & Reviews: Gatehouse 75
Best Sales Role for Stabilized Properties & Properties Under 450 Units: Sarah Curcio-Rudy, Highland Park
Best Sales Role for Lease-Up Properties & Properties Over 450 Units: Terri Olivastri, ICON
Bozzuto Management Award of Appreciation: Julie A. Smith, President
Assistant Service Manager of the Year: Jerome Porter, Hunters Glen
Assistant Property Manager of the Year: Kristie Lee, The Pinnacle at Town Center
Service Manager of the Year: Kenneth Young, Park Lane Seaport & Waterside Place
Property Manager of the Year: Anthony Barone, Edgewater & ICON
Property of the Year: The Loree Grand
Rising Star Management: Tod Tanis, Monroe Street Market
Rising Star Maintenance: Jason Mizurak, McHenry Row
Team Spirit: Flats170 at Academy Yard
Community Service: The Monterey
Social Media: Flats170 at Academy Yard
Career Development: Alyssa Boyle
Onboarding Advisor of the Year: Tess O'Brien, Flats 130 at Constitution Square
Brass Knuckle: Pearson Square, The Lexington at Market Square, vPoint Apartments
Outstanding Sales Role for Stabilized Properties & Properties Under 450 Units:
- Beth Shibley, Residences on the Avenue
- Mark Weiss, Flats 130 at Constitution Square
- Svetlana Slepukhova, Flats 130 at Constitution Square
- Laura Simmons, Residences on the Avenue
- Henry Ramos-Cruz, Flats 130 at Constitution Square
Outstanding Sales Role for Lease-Up Properties & Properties Over 450 Units:
- Marcus Shaw, 7th Flats
- Alison Russell, The Beacon at Waugh Chapel
- Alison Earley, Rolling Hills
Improper Bostonian Holds Spring Fashion Celebration at The Kensington
On April 1, Improper Bostonian, one of Boston’s premier entertainment and lifestyle guides, hosted their Spring Fashion Issue launch party at the city’s newest and most luxurious apartment development, The Kensington. Sponsors included Saks Fifth Avenue, Randolph Sunglasses, The Isabella Stewart Gardner Museum, Smirnoff Sorbet Vodka, Captain Morgan White Rum, and more. Approximately 350 guests were in attendance to view an exclusive fashion show where models cycled in and out displaying various spring looks on top of light-up boxes.
Cadence Rocks the Battle of the Bands
Cadence at Crown recently welcomed more than 450 guests for the community’s “Rock Cadence” battle of the bands event, where three local bands competed for the title of fan favorite. The winner, 19th Street Band, took home the top prize of $1,500 for their acoustic mix of popular rock, county, Celtic, and bluegrass songs. Complimentary food, beer and wine will be offered by local bars and restaurants and tours of the apartments and amenities will be offered throughout the day. #RockCadence!
460 New York Avenue Holds Preview Party
460 New York Avenue, Bozzuto’s new condominium development in DC’s Mount Vernon Triangle neighborhood, held a preview party to debut the community that drew a crowd of more than 450 prospective buyers, listing agents, realtors and press.
The event was the first opportunity for attendees to view beautiful new renderings of the community including the beautiful marble lobby, the 3,000-square foot penthouse, game room and much more.
The 11-story, 62-residence project is the first new condominium development to break ground in the downtown/Mount Vernon Triangle area in roughly five years.
Man’s Best Friend Lends a Paw for Bozzuto
The 460 New York Avenue blog is up and running, giving readers a chance to learn more about the community’s amenities, get construction updates and learn more about the vibrant Mount Vernon Triangle neighborhood. It also provides a chance to learn about the development and area from a very unique perspective… the four-legged variety.
Bandit, an adorable Jack Russell terrier and future resident (with his owner) at 460 New York Avenue, takes blog readers on a tour of the neighborhood every week in anticipation of his move in his posts titled “4 Paws at 460”. His updates highlight the attractions, dining options, shops and his favorite part, the parks, of the Mount Vernon Neighborhood and surrounding area.
For instance, on a recent blog post, Bandit showcased how close all of the many DC attractions are to Mount Vernon Triangle by highlighting a trip to the Tidal Basin to view the cherry blossoms. Afterward, he and his owner made the short walk to the Triangle and reviewed a local Cajun restaurant, Arcadiana, known for its very dog friendly atmosphere and celebrated creole cuisine.
While it’s clearly in good fun to offer insights from a 20-pound terrier, the regular postings offer a fresh way to inform readers about the area, familiarize them with the neighborhood and make it clear why the demand for living space and 460 New York Avenue is so high.
And honestly, would a dog lie to you?
Bozzuto Homes Breaks Ground on Boutique Condos on D.C.'s V Street
Bozzuto Homes has begun construction on 96 condominiums at V Street NW and 15th Street NW with an anticipated completion date of late 2015.
This community is the second Washington, D.C. condo development Bozzuto has started in 2014 (the first being 460 New York Avenue).
The V Street development, a nine-story building, will offer 96 condominiums with a mix of studios, one- and two- bedroom floor plans in the popular U Street Corridor neighborhood. The building tower will be constructed with a concrete frame and the façade will be cladded in masonry and large spanning windows.
The development will feature a community lounge, meeting room, ground level patio, rooftop deck, and a parking garage with 37 parking spaces, as well as storage closets and ample bicycle storage. All residences will be finished with European-style cabinets, quartz countertops, and wood flooring. Other features available in many of the residences include floor-to-ceiling windows as well as balconies.
BHI Wins Big at MAX Awards and PROS Awards
Bozzuto Homes had a winning night in May at the Home Builders Association of Maryland’s 2014 Maryland Awards of Excellence (MAX) Awards, which recognize local homebuilders who provide buyers with excellence in design, livability and value. The program also recognizes excellence in sales and marketing across the homebuilding industry. The team earned an amazing total of 15 awards for product, sales and marketing, as well as individual awards earned for 2013 sales volume. Bozzuto Homes was, without a doubt, the most recognized builder of the evening.
Bozzuto Homes also had another incredibly successful night at the PROs Awards with nine winners! The PROs Awards recognizes the best in our industry in production, coordination, service, quality, purchasing and accounts payable. The competition was extremely tough this year and to receive nine awards is an honor and a true reflection of the quality of the team.
This is the kind of performance that is achieved only through extraordinary collaboration and teamwork. Congratulations to all of the winners!
MAX BUILDER MARKETING AWARDS
Best Multi-Media Campaign - Bozzuto Homes for their Rebranding Campaign
Outstanding Community Brochure- Bozzuto Homes - 460 NYA
Outstanding Logo - Bozzuto Homes
Outstanding Print Ad- Color - Bozzuto Homes as appeared in the Washington Post – 460NYA
Outstanding Print Ad BW - Bozzuto Homes as appeared in the Washington Post- 460NYA
MAX PRODUCT WINNERS
Large Volume Town Home - $100,000 - $199,999
Winner: Uplands, Avon model
Large Volume Town Home - $200,000 - $299,999
Winner: Uplands, Danbury model
Multifamily/Condo - $300,000 - $399,999
Winner: Maple Lawn, Red Maple model
Multifamily/Condo - $500,000 - $599,999
Winner: Maple Lawn, Silver Maple model
MAX MERCHANDISING WINNERS
Multifamily/Condo - $500,000 - $599,999
Winner: Maple Lawn, Silver Maple model
Townhome - $100,000 - $199,999
Winner: Uplands, Avon model
Townhome - $200,000 - $299,999
Winner: Uplands, Bradford model
Transfer Townhome - $300,000 - $399,999
Winner: Maple Lawn, Red Maple model
Transfer Townhome - $500,000 - $599,999
Winner: Maple Lawn, Silver Maple model
MAX SALESPERSON AWARDS
Mindy Bush, Towson Green
MAX SALES VOLUME WINNERS
Bruce Fogel: $18 Million in sales at Shipley’s Grant
Mindy Bush: $15 Million in sales at Towson Green
PROS AWARD WINNERS
Christi Eide: Best Office Professional: Administrative Assistant
Elsie Rose: Best Office Professional: Accounts Payable
Ellareese Burke: Best Customer Service Representative: Office
Greg Somerville: Best Production Manager 121+ units TH
Victor Fuentes Blanco: Best Field Technician 41-60 units TH
Dan Arsenault: Best Project Manager Superintendent 21-40 units TH
Jeff Cellio: Best Project Manager Superintendent 61-120 units TH
Jim Scala: Best Project Manager Superintendent 121+ units TH
Dan Creegan: Award of Merit, Best Project Manager Superintendent 41-60 units TH
Maple Lawn New Models Event
Bozzuto Maple Lawn recently hosted a "10 Minutes with an Interior Designer" event to unveil two new models. Guests enjoyed food and drinks from local eateries as they toured the new models and community amenities. Bozzuto partnered with award-winning interior designers Carlyn & Company to offer interested visitors a complimentary one-on-one consultation with an interior designer to seek advice on design needs and ways to revamp their own interiors. The event yielded more 25 new registrations.
New Information System and Employee Engagement Survey
The doldrums of summer may come chock full of workplace technicalities but in HR, our technicalities are sure to bring positive results to the organization, help us keep pace with our growth and set us apart from the competition. The biggest news on the horizon is the upgrade of our HR Information System, which is due to roll out in early summer. This upgrade will bring automation and streamlining of our timekeeping and payroll systems as well as a more intuitive database for managing employee information, performance and analytics. Talent Acquisition will complete implementation of mobile apply and mobile refer technology for job applicants as well as the introduction of on-demand and live digital interviewing as part of the application and interview process.
Lastly, in May we deployed our first employee engagement survey in six years. The purpose of this survey was to gain understanding and insight to our employees’ perception of their workplace and engagement in their jobs. Our goal is to use the results of the survey to identify strengths and weaknesses in our current practices and policies and create action plans that build on both. Stay tuned for the results – we thank you for your participation in this important initiative.
BOZZUTO DEVELOPMENT COMPANY
MSM Adds Two New Retail Tenants, Farmers Market
The Monroe Street Market team has added two new exciting retailers to the community – local businesses The Bike Rack and Filter Coffeehouse have leased a combined 2,546-square-foot space in the Brookland Works building, scheduled to open this fall.
In addition, beginning May 10, the property began hosting a weekly farmers market featuring 10-20 regional farmers and food producers from the area.
The Bike Rack is a full-service, independent bike shop run by people who care about cycling and who strive to improve the cycling experience of every customer – with outstanding service and a friendly, welcoming atmosphere. With a current location at 1412 Q Street NW, The Bike Rack works to build a strong cycling community with weekend rides, clinics, local partnerships, clubs, teams, and active involvement in local cycling advocacy.
Filter Coffeehouse and Espresso Bar currently has two Washington, DC locations – one in Dupont Circle and one in Foggy Bottom. The shop offers hand-poured cups of carefully chosen single origin coffees, french pressed offerings in the morning hours, and classic espresso-based drinks – all chosen and prepared with an uncompromising commitment to quality and service. Filter's coffees are carefully roasted by Ceremony Coffee, a local roaster in Annapolis, MD.
Cathedral Commons signs seven New Retail Tenants
In addition to retail anchor Giant Food, six additional tenants have signed leases to join Cathedral Commons, Bozzuto’s new mixed-use development on Wisconsin Avenue in Washington, D.C.
New retail, scheduled to begin delivering this fall, include Barcelona Restaurant & Wine Bar, Raku, Wells Fargo, SunTrust, CVS Pharmacy, and iDoc Optical.
- Barcelona Restaurant & Wine Bar, an award-winning Spanish restaurant with a long list of tapas and wines from around the world, will open a 3,280-square-foot restaurant.
- Raku, an Asian dining, sushi & sake restaurant, will open a 3,321-square-foot restaurant.
- Washington, D.C.-based full-service eye care store iDoc Optical will open a 1,210-square-foot office.
- Financial services company Wells Fargo will open a 2,004-square-foot bank.
- SunTrust Bank will open a 3,598-square-foot branch.
- CVS Pharmacy will open a 12,440-square-foot store, selling a wide assortment of general goods including cosmetics, greetings cards, convenience foods, seasonal merchandise and more.
- Starbucks coffee company will open a 1,900-square-foot store.
BOZZUTO CONSTRUCTION COMPANY
BCC Shows Strong Presence at ULI Trends
BCC exhibited a prominent role at this year’s ULI Washington Real Estate Trends Conference with a strategically located, highly visible, and well-staffed booth. In addition, Tom and Toby Bozzuto participated in a “Generations – All in the Family?” panel, in which they shared their experiences as two generations of family involved in real estate.
Moderators Robin Mosle, vice president of retail at The JBG Companies, and Alison Mosle Williams, project manager for Bozzuto Management, led the generational discussion of how the transition between generations affects their companies and products.
The “elder” generation of the panel, represented by Tom Bozzuto, John Shooshan and Herb Miller all expressed how running their business with integrity is something they wanted to pass to the younger generation as they continue to lead in the coming years. Herb said he stressed the importance of keeping up with changes in technology in the Real Estate industry to his son Ben, who is the co- founder of the real estate crowd-funding site Fundrise. Herb also sees a socialization pattern change with the new generation, and how this will affect how cites are developed. John sees an increase in the communication capability of the younger generation, and Tom sees an increased energy and enthusiasm.
The “younger” generation comprised of Toby Bozzuto, Kelly Shooshan and Ben Miller all have embraced technology and social media in the real estate industry (although some still prefer a pen and paper over an iPad). Kelly stated how there is “always something new with social media” and how it is almost too much to analyze. Toby hopes to create a better user experience with social media; something that he feels real estate lacks. He shares his father’s belief in “quality, highly-designed projects”, but feels like the younger generation may be more in tune with the key demographic renters. Ben talked about the older generation’s denial that they are now how their parents used to be, and how he hopes in 10 years the panel is discussing how “social capital” changed the real estate industry.
The discussion ended with a speed round of questions that showed generational differences in using voice mail (or not using voice mail) as well as thoughts on “place-making”. The Bozzuto’s were the only pair that believed micro units were a fad; maybe they know something the rest don’t know, and they are just keeping it in the family for now.