As you know by now, we recently opened our 292-unit Anthem House in Baltimore. This development was a joint venture between Bozzuto, Scott Plank at War Horse and Solstice Partners. To me, this new community represents the very best of what Bozzuto can be. The development is stunning in both design and execution. As my father would say, it is a community that is “loved.”
It appears that I am not alone in this opinion. Within the first eight weeks of being open, the incredible management team at Anthem House leased almost 90 units at the highest rents ever achieved in Baltimore. It comes as no surprise that this community is so well received. When our company creates developments that transcend typical commodity apartment communities, and instead creates communities that emotionally resonate, our customers will come in droves and not want to leave.
We have experienced similar reactions from our customers at The Fitzgerald, Union Wharf, Monroe Street Market, 360 NY Avenue, Parker 15, Cathedral Commons, among others. These amazing developments have not only defined who Bozzuto is, but are slowly helping us leave a positive legacy on the neighborhoods that we are privileged to build in.
We should not think of ourselves as simply being in the “apartment business,” rather, we should think of ourselves as being in the experience business. That is, everything this company touches, from the design and construction of our communities, to the service we provide, should be focused on creating extraordinary experiences for our customers. Bozzuto, at this time in our history, with our 2,400 incredible associates, is poised to redefine our business space. We are building a brand by leading with our hearts and obsessively focusing on our customers.
It should, therefore, be no surprise to you that the aforementioned developments have been extremely successful. Our customers are reacting in an overwhelmingly positive manner to the communities that you all are creating, building and managing.
We all know intuitively how space makes us feel. Even a child reacts to his or her environment. How many of you feel great when you walk into a discount store? Not many, I would guess. Discount stores are usually crowded and cluttered. While you may go there for quick value, the experience is almost intolerable. Conversely, how do you feel when you take a loved one to a beautiful restaurant with incredible service? You feel elevated and happy. In other words, it is possible for space and customer service to elicit joy and delight from a customer. Furthermore, those customers are willing to pay more for this kind of experience.
If we focus on delivering communities like Anthem House, full of original art, inspiring architecture, soaring spaces and an exceptional staff, we will be sure to create delight for our customers. Union Wharf was very similar in this regard, and sold to a Wall Street firm for the highest price ever paid in Baltimore’s history for an apartment community.
This is our time to leave a legacy of the extraordinary. Project by project. Resident by resident.
Who’s with me?