Joshua L. Bruno, New Orleans Real Estate Developer

Bruno, INC.
 Acquisition-Finance-Design-Development-Construction-Management
P 504-309-1849 F 504 598 9387

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Profile:  Joshua L. Bruno

Joshua Bruno, 27, a New York native, is a successful real estate investor and developer in the Gulf Coast region whose entrepreneurial career began in 1996 while he was high school student.

With a vision that initially led him into the entertainment industry, Bruno formed an event company at 16 that he expanded during his college years at Tulane University in New Orleans.  This event business ultimately led to Bruno’s ownership in the popular and financially successful Club Ampersand in New Orleans’ trendy Central Business District which he and a business partner purchased in 2000, his sophomore year at Tulane.

A Finance and Psychology major at Tulane, Bruno left college as a Junior in 2001 to manage his successful event and club businesses.  In 2002 he launched his real estate career–investing in real estate in the Gulf Coast region. He completed numerous successful renovations and sales of duplexes, 4-plexes, subdivisions and small commercial properties.

The following year, he formed A.J.B. Properties to focus on leveraged buyouts of large regional real estate portfolios of multi-family and mixed-use commercial properties.  After successfully rehabilitating selected properties and selling others, Bruno moved into liquidating real estate portfolios acquired as part of hostile takeovers.

He focused on redeveloping underperforming real estate portfolios in Gulf Coast areas where other banks and investors were hesitant to invest.  These properties typically housed low to middle income tenants, suffered from deferred maintenance or poor management and were located in neighborhoods plagued by crime.  He stabilized numerous properties, turning them into high earning developments with a high cap rate that made them marketable nationwide.  Bruno was able to attract investors from Florida; California, New York City and Mexico.

He earned a national reputation for providing high performing real estate portfolios consistently and in 2004, a group of U.S. real estate investors retained Bruno’s company to turn around their problem properties.  Bruno then formed his third company, Crescent City Collections, which specialized in collection of real estate debts, collecting rent and making hard money loans throughout the metro New Orleans area. 

The following year, Bruno sold his interest in Club Ampersand to concentrate his full time efforts on redeveloping existing properties and developing new properties along the Gulf Coast.  He focused special attention on the Downtown and the West Bank areas of New Orleans, in addition to assisting outside clients who wanted to invest in New Orleans, especially in overlooked locations.  He opened Downtown Development Group in early 2005 to acquire and develop new properties.  Bruno amassed a $4+ million portfolio of multi-family and commercial developments slated for sale on August 31, 2005.
                       
He remained in downtown New Orleans during Hurricane Katrina and afterwards to supervise the immediate repair and reopening of all his metro New Orleans properties. In the early aftermath of the storm, Bruno personally financed a new office building in Mid-City on Tulane Avenue, relying on

generators and the labor of his employees to complete construction.

Reversing strategies, Bruno decided not to sell his real estate portfolio but instead to invest heavily in commercial and multi-family properties in key Gulf Coast areas he believed were poised for major redevelopment.  In response to the demand for worker housing, he opened Metro Wide Apartments to provide affordable, low to moderate family developments for temporary workers who flocked to New Orleans to aid in the area’s rebuilding.

With the motto of “Bring Louisiana Home,’ Bruno worked closely with returning hurricane evacuees,   and the migrant worker community, the Archdiocese of New Orleans, the Unity Road Home Program, Catholic Charities, FEMA and numerous other non profit groups to provide affordable housing after the storm.  Metro Wide Apartments has maintained 100% occupancy—and a waiting list— for all of its garden apartment communities and duplexes in Treme, Uptown, Mid City, Central City and the Westbank. 

Bruno’s garden style apartment communities, including the low-income units, feature all high-end amenities: digital phones; free high speed wireless Internet; gated off-street parking; usable green space/gated courtyards; on-site bi-lingual staff and security; 24-hour monitored CCTV security systems; and energy efficient lighting/plumbing.

Bruno’s newest multi-family apartment development is Riverview Apartments, a 48 unit, $1.75 million redevelopment of a hospital and assisted living facility into a middle to upper-middle income gated apartment community on the river in south Kenner.  This is the first phase of his planned redevelopment of the Rivertown Community.  Bruno is also developing Century Park, a $20.2 million Class A office and retail center in Slidell, adjacent to the planned UNO Technology Center along the I-10 Technology corridor. The buildings all feature Hurricane Resistant design and materials.

Bruno’s real estate development philosophy is based on increasing the quality of life on the Gulf Coast by bringing the outside ‘in’ to working or living environments and creating outdoor spaces that provide more opportunity for workers or residents to enjoy lush green spaces.  His properties integrate the convenience of city living with the beauty and security of suburban life.

Bruno Inc., Bruno’s holding company, is vertically integrated to acquire, design, develop, construct and manage all developments from their headquarters in New Orleans.

www.BrunoInc.com

Other large real estate projects that have been developed by Bruno’s companies include:

 

  • Redevelopment of Heritage Business Park; Gretna, LA
  • Headquarter offices of Downtown Development Group/Metro Wide Apartments–6000 Sq. Ft. Hurricane Resistant building on Tulane Avenue; New Orleans, LA
  • Redevelopment of 6 duplexes in square block of Treme by St. Peter Clavier Church; New Orleans, LA
  • Three large low to moderate income Garden Style Multi-Family Properties built at the same time:
                 –Washington Gardens - 25 units on Washington Avenue; New Orleans, LA
                 –Washington Place - 24 units on Washington Avenue; New Orleans, LA
                 — Metairie Heights – 12 units; Metairie, LA

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