February 11, 2011
Bozzuto Homes Inc. has broken ground on a 9-acre, 121-townhome development in Towson, with plans to sell the “environmentally-conscious” homes in the low to mid $300s.
M&T Bank is providing financing for Towson Green with a $5.3 million acquisition, development and construction loan and a $5 million construction loan.
Bozzuto is working with the nonprofit Chesapeake Fund, a partnership that includes the Chesapeake Bay Foundation,… Continue reading
February 09, 2011
Project will include mix of assisted living, townhouses
The vast field east of York Road that stretches from Burke Avenue to Linden Terrace soon will be sprouting more than weeds and overgrown grass.
The Greenbelt-based Bozzuto Group has begun work on the 10-acre tract slated for Brightview Towson, a 90-bed, assisted-living facility fronting on Burke Avenue; and Towson Green, a neighborhood of 121 new, four-bedroom townhouses with its main… Continue reading
February 04, 2011
The Washington, D.C. market has been one of the strongest in the country for job growth, and it has added jobs at a higher clip than other markets. “We think that will continue to be the case as the federal government expands and government-related job opportunities continue to grow,” reports T. Richard Linton, Jr., president of Harbor Group International.
Performance does vary by submarket, though, adds K. David Meit, CPM, principal of Oculus Realty LLC, a firm that… Continue reading
January 20, 2011
The decidedly warm Southern California desert didn’t stand a chance against the hot prospecting and fevered optimism felt by apartment industry executives who swarmed the La Quinta Resort & Spa in Palm Springs this week at the National Multi Housing Council’s jointly held Apartment Strategies Conference and Annual Meeting. But the more than 1,500 attendees should heed warning: The excitement can’t cover up continuing… Continue reading
January 19, 2011
PALM SPRINGS, CA-The demise of the homeownership dream is potentially the best thing to happen to multifamily last year. After all, every percentage point drop in the homeownership rate means another million households moved over to the rental pool. This is setting up the market for a very good few years, concurred the participants in a session focusing on submarkets across the country during the National Multi Housing Council’s Apartment Strategies Conference, which… Continue reading
December 17, 2010
People need a place to lay their heads after the work day’s done, even in a recession.
That simple premise has given rise to a surge in new apartment construction in Greater Baltimore in the past three months, as developers look to take advantage of rising foreclosures, federally funded aid programs, and what most builders see as a shortage of affordable rental housing.
Permits for multifamily buildings in the Baltimore-Washington region spiked… Continue reading
December 15, 2010
The Greenbelt-based Bozzuto Group is teaming up with fellow D.C.-area developer Peterson Cos. to bring a 350-unit apartment complex to National Harbor, the first planned rental property at the Prince George’s County mixed-use development.
Stuart Prince, the residential development director for the Peterson Cos., said his company had achieved enough of a permanent community to move ahead with plans to add rental units to the 300-acre waterfront development. He said 75… Continue reading
December 14, 2010
Two DC real estate families--the Bozzutos and the Petersons--are teaming up to build an apartment building at the Peterson Cos.' National Harbor mixed-use development. The development costs for the project, which will include 25,000 square feet of retail is $89 million, Toby Bozzuto tells GlobeSt.com.
The project came about when the Petersons reached out to our family earlier this summer, Bozzuto says. "We jumped on the opportunity because National Harbor is an… Continue reading
December 13, 2010
The Peterson Cos. and the Bozzuto Group will partner to bring the first apartment community to National Harbor in 2013, the companies announced Monday.
National Harbor, a waterfront development of condominiums, hotels, restaurants and stores, opened in 2008 in Prince George's County.
"The site is a superb location for new development -- future residents will be just steps away from a wealth of conveniences including fine dining, recreation and shopping options, as… Continue reading
December 13, 2010
Folks who can't afford to plunk down $300,000 to $1 million on a fancy condo will finally have their chance to live at National Harbor. The upscale development plans to open its first apartment building with 350 residences coming in 2013.
Peterson Cos., the National Harbor developer, is partnering with the Bozzuto Group to build the apartment community, both companies announced Monday.
The apartments will boast 25,000 square feet of street-level retail space… Continue reading