April 16, 2013
Memorable Achievements: Working with the development group to start more than 2,500 apartment units valued at over $650 million in the past one-and-a-half to two years—the most prolific in the Mid-Atlantic developer’s 25-year history. Formulating a $150 million equity fund in partnership with Pritzker Realty Group in 2010, during the depths of the recession. Since then, Washington, D.C., has taken off as a favorite market among investors, and the wisdom of the… Continue reading
February 25, 2013
The Bozzuto Group announced several changes to its leadership team last week that could set the stage for homebuilder Tom Bozzuto to hand the reigns of one of the Washington region’s largest private companies to his son.
Bozzuto, ranked by the Washington Business Journal as Greater Washington’s eighth-largest company with $1.1 billion in 2011 revenue, announced Feb. 20 that Toby Bozzuto will step into a newly created position as company president. He’ll be… Continue reading
February 21, 2013
A longtime Bozzuto Group leader is stepping down, and a pair of up-and-coming executives are taking on new roles with the company.
John Slidell, a co-founder, vice chairman and president of Bozzuto Land Co., will step down April 5. Slidell will remain involved as an owner and investor and will represent the company in "select endeavors," according to a statement released by the company. He is scaling back his involvement to "pursue other interests," the… Continue reading
February 15, 2013
Do not expect a replica of the Bozzuto Group’s Fitzgerald or Union Wharf apartments to be built at the former General Electric Co. site in Locust Point.
For this project, the Bozzuto Group is “ripping up all the old plans,” said Toby Bozzuto, president of the Greenbelt-based development firm. “We always want to be redefining what the best is. We always want to be pushing.”
Bozzuto will partner with Solstice Partners LLC to develop more… Continue reading
February 14, 2013
The development project slated for the former General Electric Co. service site in Locust Point just got a little bigger.
Solstice Partners LLC, the development team behind the proposed 2.7-acre site, has purchased the HarborQue restaurant at 1421 Lawrence St. for $1.55 million. The acquisition will allow better traffic access to the development, which is proposed to include more than 200 apartments and 16,000 square feet of retail space,… Continue reading
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, even… 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 as… 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 largest… 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 is… 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