News
TOBY TIME
April 28, 2011
| Bozzuto Development prez Toby Bozzuto tells us that construction starts this fall on 281-unit Union Wharf in Fells Point. And he says it will have Baltimore's best pool. If you care to challenge (or agree with) that notion in person, he's speaking at our first-ever Baltimore State of the Market on May 6. |
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| Toby tells us his firm's focused on differentiating its properties through design. Take the Fitzgerald: The 275-unit project (delivered 11 months ago) is the fastest-leasing apartment building in Baltimore City's history at 95%, he says. Of course, overbuilding is aconcern as the market picks up momentum—at this point it's easy for supply to outstrip demand for Class-A product. Offering superior quality and value at the best locations is the only way to stay aheadof the pack. He also tells us equity and debt are available for developers with strong track records. |
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| And Union Wharf? Toby tells us the pool was inspired by the Delano Hotel in South Beach and will be a social center for tenants. The pool will end just short of the harbor creating an ?infinity effect.? |
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| Since we showed you Union Wharf, here's the club room at the Fitzgerald. Toby says rent concessions from the downturn haveburned off and that demand is steady for Class-A apartments (mostly because few buildings delivered last year). Bozzuto managesover 1,000 units downtown alone. To register for our May 6 event with Toby, also featuring Manekin president Richard Alter, COPT president Roger Waesche, Jr., Turner Development presidentPatrick Turner, and many more, sign up today! |
