Washington D.C.’s 25 Most Powerful Real Estate Players in 2020
Who’s got the right stuff when it comes to real estate in the nation’s capital.
By: Editors at the Commercial Observer
Toby Bozzuto knows that he has the opportunity and responsibility for his team to leverage their collective voice for the greater good.
“We can—and should—use our voice to stand up for those who can’t,” the president and CEO of the Bozzuto Group told Commercial Observer.
On May 31, in response to the recent surge of racial injustice, Bozzuto sent a letter to his employees.
“I am hopeful that I can learn best practices for our company to embrace a culture of diversity and inclusion, while concurrently denouncing racism and inequality in any form,” he wrote. “We must always set the bar higher for ourselves, and learn what we could be doing better. This is a top priority for me and for Bozzuto.”
This stance is by no means a new one for the company.
“In 2019, we rolled out an enhanced corporate social responsibility program called Rise by Bozzuto,” Bozzuto told CO. “Recently, as part of a COVID-19 relief effort, Bozzuto employees and residents rallied to raise $50,000 over just a few weeks for two national charities helping others impacted by the coronavirus.”
The company raised and matched funds for #FeedtheFrontLine with Sweetgreen and World Central Kitchen, and participated in A Wider Circle’s Virtual 5k Race to End Poverty.
The real estate they’re involved in is also important, too; the Bozzuto Group, which makes about $450 million in revenue and has some 150 new construction projects under its belt, recently partnered with The Chevy Chase Land Company to bring 100,000 square feet of grocery-anchored retail serving 280 apartments and 65 condominiums, direct access to the new Purple Line and a community gathering space. It’s expected to be complete in the fall of 2021.
Another big project was the College Park groundbreaking, a $140 million redevelopment of a site south of the University of Maryland’s front door in College Park.
“Our teams were proud to begin this project despite the uncertainty of a global pandemic,” he said. “This news was great not only for Bozzuto and our partners, but for the local economy and surrounding community.”