February 14, 2013
For as much attention as the single-family residential housing market as been getting, it may seem like the apartment industry is the oft-ignored stepchild. Yet a recent report from the National Multi Housing Council and National Apartment Association finds that the multifamily rental sector plays an even larger role in the overall US economy than one might expect.
Apartments—and those living in them—contributed $1.1 trillion to the national economy in 2011,… Continue reading
February 12, 2013
Although steady job growth in the construction sector has recently spurred optimism about the strength of the nation’s economic recovery, economists and local construction executives say the industry is poised to make only modest contributions to the growth of the Washington region’s labor market this year.
These forecasts reflect the unique composition of the Washington area economy: Its housing market has room for improvement, but not… Continue reading
January 31, 2013
Development team closes on $20 million in funding, clearing way for construction
The team picked to redevelop the 62-acre O'Donnell Heights public housing project in Southeast Baltimore has started construction after closing on $20 million in funding for the rental homes in phase one.
The Michaels Development Co. and AHC Greater Baltimore, the master developers, said Thursday that Bozzuto Construction Co. will build 76 townhomes with funding secured in January. The… Continue reading
January 15, 2013
Greenbelt-based Bozzuto Group will start construction this spring on a condo development at 460 New York Ave. NW.
Bozzuto is redeveloping an existing 11-story building at the corner of New York Avenue and L Street into a 63-unit condo that will include studio, one-bedroom and one-bedroom plus den units.
The building will include a vertical lift parking system in its first two floors, with 36 parking spaces.
WDG Architecture is the architect of record. Bozzuto… Continue reading
December 19, 2012
Demolition work on the site of the future Cathedral Commons is nearly complete, signaling the end of a long-running battle to halt the large-scale mixed-use redevelopment project less than a half mile north of National Cathedral.
Workers are razing buildings — including a strip mall that once housed the 1950s era G.C. Murphy Co. department store — on the 178,236-square-foot property nearly one year after an appeals court rejected legal challenges by several… Continue reading
December 17, 2012
The Post 200 is an annual snapshot of the companies, law firms, nonprofits and other organizations that power our local economy. Here's a look at this year's list.
Working off of an apartment development fund that it formed with Pritzker Realty, Bozzuto has been lining up apartment development projects throughout the region to take advantage of the local apartment boom. It is planning or building projects at National Harbor, on… Continue reading
The Gazette: Bozzuto Construction of Greenbelt Has Signed Four New Projects Worth More Than $107 Million
December 13, 2012
The $40 million Petworth Safeway & Residences development in Washington, D.C., will include a Safeway supermarket and 218-unit apartment community, according to Bozzuto information. The $28 million renovation of Tyler House Apartments in Washington will cover 284 units. Kingsview Village Apartments is a $20 million garden-style community comprising 195 units in Germantown. The $19 million MetroTowns at Parkside will… Continue reading
December 12, 2012
Bozzuto Construction Co. anticipates putting more than $350 million to work in 2013, according to its president Mike Schlegel. "2014 looks very positive as well," he tells GlobeSt.com. In fact, he says, the company is very bullish about the next decade. "While there may be some temporary overbuilding in this market…the long term demographic forecast is outstanding for mixed-use / multifamily."
Schlegel made his comments after the company announced four development… Continue reading
December 10, 2012
An online relationship starts well before the lease is signed and can play a role in whether a renter renews.
Social media may account for just 2 percent of new leases for The Bozzuto Group, but when it comes to online engagement, the whole is not equal to the sum of its parts. Social media’s impact can’t be measured at just one point of the process.
The technology is a primary way for companies to enhance customer service and engage renters while slowly building up their brand,… Continue reading
November 17, 2012
It has been one of the longest battles over a grocery store that many can remember.
More than 10 years after the first proposal to build a new Giant Food store was put on the table, ground finally broke.
Eleanor Oliver has lived in the Northwest neighborhood near the National Cathedral for more than 50 years. She remembers the first plans for the new store on Wisconsin Avenue.
"They were big, they were ugly, they didn't offer that much," said Oliver. "All… Continue reading