Bozzuto Construction is excited to share our 2022 Year-in-Review, which recaps the important milestones we reached throughout the year – all of which were made possible by our employees, clients, and partners. We look forward to what the remainder of 2023 has in store!
2022 Year-in-Review BOZZUTO CONSTRUCTION COMPANY
Table of Contents
1
From the Desk of Our President
2
Bozzuto Construction by the Numbers
3
Uniting Expertise with Innovative Solutions
4
Supporting Resiliency in our Communities
5
Investing in Our Team
FROM THE DESK OF OUR PRESIDENT
PAGE 3
For every flight that a pilot navigates, experiencing turbulence is a reality. A variety of factors can cause rough flying conditions, but chances are they aren’t severe enough to prevent a safe landing at your destination. Pilots use something called a Power-On Approach when nearing a patch of turbulent air. To put it simply, this approach calls for adding speed and using small, calculated adjustments. The momentum of your aircraft counteracts wind fluctuations and helps you maintain positive control of the aircraft. Our industry has been facing consistent turbulence for the past few years. And to continue growing and delivering quality work for our clients, Bozzuto Construction has taken a Power-On Approach. By using the momentum of team collaboration and implementing smart changes to our processes, we continue to navigate the volatile and unpredictable market, full speed ahead. This approach, combined with Bozzuto Construction’s ongoing investment in our team members, clients, partners, and communities, sets us up for another successful year ahead. COLLABORATING THROUGH TURBULENT TIMES
Mark Weisner President Bozzuto Construction Company
Bozzuto Construction by the Numbers 2
#13 #73
NMHC 25 Largest Builders
Building Design + Construction Top 90 CM Firms
#110 #173 #68 #15
Building Design + Construction Top 200 Contractors
ENR Top 400 Contractors
ENR Top CM-at-Risk Firms
ENR Top Mid-Atlantic Contractors
BETWEEN JAN 01, 2022 - DEC 31, 2022
PAGE 5
Overall Highlights
projects started 8
4,529 1,524
$426 million
units
16
$1.1 billion
ongoing projects
units
10
units 2,213
$624 million
projects completed
$2.1
Total Projects
units
billion
8,226
34
2022 Portfolio Affordable Housing of active projects 35% Renovations of active projects 21% Precon & Estimating active projects | 33
40% 39% 15% 6%
Mixed-use
Multifamily
billion $2.1
Senior Housing
Student Housing
To Date... Portfolio value $7.3 BILLION
Average annual revenue $650 MILLION Current backlog value $1.2 BILLION
60,000 UNITS Built to date
Affordable housing portfolio value $1.4 BILLION
70%
Third-Party
30%
In-House
PAGE 6
BOZZUTO CONSTRUCTION BY THE NUMBERS
Unwavering Subcontractor Support
The partnerships we share with our subcontractors are invaluable. With their support and dedication, we worked together to develop creative and proactive mitigation measures to keep pushing projects forward and overcome our industry's uncertainty throughout the year. of our GMP bids had socioeconomic goals, which we met. We worked with our subcontractors and project partners to meet all First Source and MBE/WBE/CBE goals with financing sources that include DHCD, DCHFA, CDA, HUD, VHDA, and more. 46% In 2022,
To express our ongoing gratitude, Bozzuto hosted several events for our subcontractors throughout the year, including appreciation parties in our PA and DMV regions.
Commitment to Safe Production
In 2022, Bozzuto Construction partnered with SafetyStratus to streamline safety inspections and provide real-time feedback to the project Safety Foreman. Additionally, our Safety Team is expanding its partnership with myComply to completely digitize all vital processes.
1.0
.6 9
Our Footprint BOZZUTO CONSTRUCTION BY THE NUMBERS
PAGE 7
jobs in the markets we serve. 11,550
Our active projects provided approximately
MA
PA
NJ
MD
DE
DC
VA
Bozzuto Construction topped-off the Rowen at Pinehills in the Fall of 2022. Upon it's opening in 2023, this development will provide The Pinehills community in Plymouth, MA with 178 apartments plus additional retail on the VillageGreen. Rowen at Pinehills Project Partners: Bozzuto Development Company, New England Development, The Pinehills, JP Morgan, ICON Summerhill Summerhill is a new 220-unit build-to-rent townhome community located in Exton, PA. With the rising demand for this product type, this project has been a great opportunity for Bozzuto Construction to bring our rental expertise to this market. Project Partners: Cornerstone Tracy, Bentley Homes, E. Kahn Development
FL
Uniting Expertise with Innovative Solutions 3
Bozzuto’s Virtual Design and Construction (VDC) Group is regularly using 3D technology to collect data from the existing conditions of our renovation projects and pass it along to the structural engineers for review, expediting the approval process.
UNITING EXPERTISE WITH INNOVATIVE SOLUTIONS
PAGE 9
Leveraging Technology to Enhance Collaboration OpenSpace
Bozzuto’s Virtual Design and Construction (VDC) Group has been utilizing OpenSpace to capture images of project development using 360- degree cameras. This technology allows our teams to use 3D modeling to communicate ongoing progress to our clients, as well as help us mitigate risk in the following ways:
Verifies material installation before concealment. Material Installation Provides a visual of the project schedule and budget projections. Avoid Change Orders Captures and documents each stage of construction. Visual Transcript
OpenSpace visual documentation at our Chevy Chase Lake project in Chevy Chase, MD. The top image shows the model versus the real-time progress in the bottom image. 3D Scanning PICTURED:
Guardian House is a 66-unit adaptive reuse project located in Baltimore, MD. In 2022, our VDC Group collected data from a 3D laser scan to identify the severity of the slab deflections on each floor. With heat mapping and automated cut/fill reporting, the VDC Group provided the field team with an estimate of how much gypcrete was needed to level the floors.
UNITING EXPERTISE WITH INNOVATIVE SOLUTIONS
PAGE 10
Thought Leadership
Bozzuto Articles
In case you missed them, linked below are the Bozzuto Construction articles from 2022:
Navigating Material Shortages in 2022 The Advantages of Subcontractor Default Insurance Construction Executive: Learning on the Fly
SVP Kelly Cantley moderated a panel at the Annual Women in Construction Conference (WIC), where she led a discussion on how companies are overcoming market challenges. “The obstacles we've been facing in our industry are not exclusive to Bozzuto Construction. When facing a difficult situation or conversation, try and re-center your perspective and approach resolutions with both creativity and patience.” – Kelly Cantley Annual WIC Conference
Bisnow Architecture & Design Summit
As a panelist at Bisnow’s DC Summit in August, Preconstruction Manager Christine Wu shared insight on how inflation impacts design and how Bozzuto is combatting it. “My advice for owner and design teams is to accelerate buyout, front-load submittal approval, and pre-approve alternative products. Securing approvals for alternate products minimizes the risk of the project schedule being delayed.” – Christine Wu
Supporting Resiliency in Our Communities 4
Bozzuto Construction was honored to receive the 2022 Affordable Housing Conference of Montgomery County Eugene F. Ford Sr. Builder of the Year Award and the 2022 SOME Corporate Impact Award for our dedication to building affordable and mixed-income communities.
Mentoring & Apprenticeship PAGE 12 SUPPORTING RESILIENCY IN OUR COMMUNITIES
,
We partnered with Howard County Community College to establish an apprenticeship that provides hands-on learning opportunities to construction management students. Last spring, our first apprentice accepted a full-time position with us after successfully graduating from the program.
Bozzuto hosted a tour for 40 students from S:PACE – the student arm of Penn State’s Architectural Engineering Program for PACE – to teach them the ins and outs of an active jobsite. The event served as one of the learning enrichment activities for the program’s curriculum.
The Baltimore Station We spent Veterans Day volunteering at The Baltimore Station and expressed our gratitude to local veterans for their service. Several of the Bozzuto employees who attended are veterans. Women’s Build In the spring, a group of Bozzuto Construction women took part in Habitat’s Women’s Build by assisting with renovating a single-family home that was donated to a family in the DC Metro area. Mock-Up Donation The Rowen at Pinehills team in Plymouth, MA donated their project mock-up to Habitat for Humanity. The donation supported the organization's efforts to improve housing conditions for local families.
14
SUPPORTING RESILIENCY IN OUR COMMUNITIES Providing Housing for All
PAGE 13
Green Community
This new 137-unit Green Communities certified building offers its senior and independent living residents reduced utility costs. The project takes advantage of the new income averaging law so that 97% of the units will qualify under the Low-Income Housing Tax Credit program. The Lewis | Suitland, MD:
EarthCraft
This new EarthCraft and EnergyStar-certified affordable housing community includes 56 studios, 178 one- bedroom and six two-bedroom apartments. All units incorporate universal design standards, which were not in place when the original building was constructed in the 1970’s. Lake Anne Fellowship House | Reston, VA:
Investing in Our Team 5
After twenty years of working with Bozzuto Construction Company, Senior Superintendent Joe Russell attributes the passion he has for his career to the people he works alongside every day.
Visit our LinkedIn to learn more about our culture and what it's like to partner with Bozzuto Construction.
INVESTING IN OUR TEAM
PAGE 15
Prioritizing Wellness, Diversity, and Inclusion “Bozzuto Construction is proud to operate in culturally rich and diverse neighborhoods, and we strive for our workforce to reflect these communities by providing a safe, welcoming, and accepting environment that enables our employees to be their best, authentic selves.” – Mark Weisner, President In 2022, Bozzuto Construction participated in Women in Construction Week, Mental Health Awareness Month, and Construction Inclusion Week.
of Bozzuto Construction employees are women, compared to the 9.26% national average. 22%
22%
Industry Average
9.26%
Campus Ambassadors Each year, we assemble a group of Bozzuto Construction employees, or campus ambassadors, to attend career fairs at their alma mater to help recruit top candidates as interns and entry- level team members.
Professional Development Bozzuto coordinated off-site retreats for our Superintendents, Project Managers, and other groups across the company to provide training, thought leadership discussions, and to unwind and connect.
INVESTING IN OUR TEAM
PAGE 16
The Annual Bozzuto Construction Fishing Trip is a much-anticipated employee appreciation event that dates back to our beginnings. The tradition begins with an award ceremony recognizing standout teams for enforcing our safety and quality standards. The event ends with a competition of who can catch the biggest fish on the Chesapeake Bay. Celebrating Our Success
In addition to our Fishing Trip, we enjoyed several other gatherings, like our annual baseball outing and project milestone celebrations.
Bozzuto Construction attended a Washington Nationals game in Washington, DC.
The Eleven Parkside and Faraday teams celebrated their project completions.
2022 Year-in-Review
333 North Broad Street | Doylestown, PA Guardian House | Baltimore, MD Harvard Hall | Washington, DC Lake Anne Fellowship House 2| Reston, VA Saint Anne’s | Damascus, MD Summerhill | Exton, PA Walter Reed Parcel QRS | Washington, DC West Falls | Falls Church, VA Projects Started: Chevy Chase Lake Building 1 | Chevy Chase, MD Chevy Chase Lake Building 3 | Chevy Chase, MD Democracy Lane | Fairfax, VA Eleven Parkside | Washington, DC Lake Anne House | Reston, VA Projects Completed:
Ongoing Projects: 8787 Georgia Avenue | Silver Spring, MD Arbors at Arundel | Hanover, MD Chevy Chase Lake Building 2 | Chevy Chase, MD
Compass at the Grove | Newark, DE Hillwood Manor | Takoma Park, MD Lakeside | Centreville, VA Oakville Triangle | Alexandria, VA
Providence Town Center | Collegeville, PA Pentagon Centre – Building C | Arlington, VA Rowen at Pinehills | Plymouth, MA Rye Street E5B | Baltimore, MD Rye Street E6 | Baltimore, MD Shady Grove Phase II | Rockville, MD Somerset Phase II | Baltimore, MD Swedesford Plaza | Berwyn, PA The Abby | Quincy, MA *
Mattison Estate | Amber, PA The Aster | College Park, MD The Cadence | Arlington, VA The Nine | College Park, MD The Lewis | Suitland, MD
* Bozzuto Construction is the CM on this project.
6406 Ivy Ln. Suite 700 Greenbelt, MD 20770 480 E. Swedesford Rd. Suite 110 Wayne, PA 19087 60 Mall Rd. Suite 300 Burlington, MA 01803 3190 Fairview Park Dr. Suite 230 Falls Church, VA 22042
BozzutoConstruction.com 301.220.0100
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