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Latest News One Project's Economic Ecosystem

June 05, 2013

On Tuesday Tom Bozzuto, chairman and CEO of The Bozzuto Group and chairman of the National Multi Housing Council, testified before a House Energy and Commerce Subcommittee regarding the economic strength of the apartment industry.

Bozzuto's mission was to describe how important and entrenched the multifamily industry is in the economy. To that end, Bozzuto provided the expected statistics ("the apartment industry is a competitive and robust $1.1 trillion industry that helps 35… Continue reading

Baltimore Sun: Progress in Uplands Community is Gaining Steam

June 05, 2013

After more than a decade of cajoling, legal wrangling and building, the residences at Uplands, the $238 million residential community in Southwest Baltimore, are coming to life.

"There's a momentum that's built up that's going to be very, very difficult to stop," Baltimore Housing Commissioner Paul T. Graziano said at a ribbon-cutting event Monday, complete with a marching band and color guard from neighboring Edmondson-Westside High School.

Although about 15… Continue reading

The Daily Record: Mr. Bozzuto Goes to Washington

June 04, 2013

A developer who has built several high-profile apartment projects in the Baltimore area testified about the vitality of that market before a House Energy and Commerce subcommittee in Washington on Tuesday.

Tom Bozzuto, chairman and CEO of The Bozzuto Group in Greenbelt, told members of Congress that the housing rentals are a $1.1 trillion industry that have 35 million residents today.

Bozzuto’s testimony was part of a presentation by the National Multi Housing Council and the… Continue reading

HousingWire: NMHC Chair Cites Multifamily Strength Amid Supply 'Lag'

June 04, 2013

Multifamily housing development can be a key plank in a thriving economy, insisted Tom Bozzuto, the chairman of the National Multi Housing Council, in the nation’s capital today. And, last year, there was a 50% lag between supply of new apartments and a demand level that stood at 300,000, his company, The Bozzuto Group, said.

He was speaking before a House Energy and Commerce subcommittee in Washington, D.C., according to a press release issued by the… Continue reading

Baltimore Business Journal: After $238M Makeover, Uplands Opens as 'Urban Village'

June 03, 2013

A once dilapidated housing community in Southwest Baltimore is getting new life with a $238 million overhaul that will include 763 apartments and homes.

The new Uplands community replaces the old Uplands Apartments, a community of 979 subsidized apartments on Route 40 near Edmonson Village. The project had been stalled for more than a decade thanks to the recession, challenges to the bid process and lawsuits by residents and property owners.

So a… Continue reading

Washington Business Journal: Monroe Street Market Pays Off for Brookland

June 03, 2013

The 1 million-square-foot Monroe Street Market has yet to welcome its first tenant, but the project is already paying dividends for the community.

The District on Friday announced it would provide grants of up to $5,000 to businesses along 12th Street NE for storefront improvements (more information here). The grant money comes from a $25,000 contribution from the developers — Abdo Development, Bozzuto Development and Pritzker Realty — part of an… Continue reading

Baltimore Sun: Five Questions for Toby Bozzuto

June 01, 2013

Toby Bozzuto seemed headed for a career in the music industry.

The son of Thomas S. Bozzuto, a founding partner of developer The Bozzuto Group, Toby Bozzuto interned for Blues Traveler in college, working in the band's management office in Carnegie Hall. Then for two summers he worked for Sony Music Entertainment's college music division, handling grass-roots marketing in upstate New York from his dorm room.

"My fraternity brothers loved the boxes and boxes of CDs I got every… Continue reading

The Daily Record: West Side Residential Development to Open

May 30, 2013

Early next week, the $238 million Uplands residential development on the city’s West Side will officially open.

The development is on property that once was a 979-unit troubled, subsidized apartment complex off Route 40 west that was bought by the city in 2004.

Replacing it on a total of 63 acres is the new community that, when built out, will have 761 residences including townhouses, semi-detached houses and apartments. The development broke ground in October 2010… Continue reading

Washington Business Journal: Giving Employees the Chance to Fly

May 10, 2013

When Tom Bozzuto founded The Bozzuto Group 25 years ago, his goal was simple: to build the best real estate company in America. There was only one way to go about getting that done.

“Your customers cannot have a good experience if your employees don’t enjoy where they work and don’t believe in what you stand for,” said Bozzuto, who leads the company’s strategy.

Toby Bozzuto, left, rings a “bell of accomplishment” used when the company celebrates major milestones as his father, Tom, and employees look on.

Tom’s son Toby, who left J.P. Morgan Chase 12 years ago and now serves as the president of… Continue reading

Multi-Housing News: The Bozzuto Group and Peterson Companies Break Ground on the Esplanade at National Harbor

May 10, 2013

Financing has been completed and construction begun on The Esplanade at National Harbor, an apartment building to be developed at National Harbor in Washington, D.C. The announcement was made by the two locally based, privately owned development companies involved in the project, Peterson… Continue reading