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The Bozzuto Group has a multifamily project coming up that could be ready to break ground in the next 60 or 90 days, according to president and CEO Toby Bozzuto. As it works to secure financing, “we have seen the debt market be very, very reticent to do anything,” Bozzuto told listeners in a recent CBRE webinar. “Candidly, I understand we’re all trying to build a castle on quicksand. I mean, we’re trying to figure out where the bottom is and I’m optimistic. I do think things are getting better and will get better every single day, but there’s just some uncertainty in the market right now.” 

Unfortunately that uncertainty is also playing out in the affordable housing space, a market that has huge demand as well as strong interest on the part of developers.

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Erika Morphy


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