At Bozzuto, Toby Bozzuto leads more than 4,000 employees across homebuilding, multifamily development, construction and management divisions, overseeing 130,000 apartments and 4 million square feet of retail space nationwide.
The company has earned recognition as a Great Place to Work and a Top Workplace by The Washington Post for 10 consecutive years. In July 2024, Bozzuto was named Chair of Colgate University’s board of trustees, becoming the youngest person to hold that position. Committed to diversity and inclusion, he joined the CEO Action for Diversity & Inclusion pledge and Catalyst CEO Champions for Change.
What is the biggest challenge facing your industry today?
The biggest challenge facing our industry is that the cost to build continues to make new projects extraordinarily difficult. This is due to the combined cost of capital, inflation, tariff impact, labor, hard costs and soft costs. On top of that, an increasingly onerous regulatory environment puts more and more burdens on housing development and is actually curtailing new starts and exacerbating the affordability issues in housing.
What is the best advice you’ve ever received?
From my father: “Never forget where you came from.” Humility is the single greatest gift a leader can have. This gives us perspective on how fortunate we are to do what we do with such incredible people. Furthermore, humility reminds us that it is our corporate obligation to give back to the communities we are lucky enough to work in.
How do you define success?
Success is leaving the world and the people you meet in a better place.
