President & CEO, Riedman Construction, LLC
Years in current role: 27
What do you enjoy most about your role?
As real estate developers, we serve as stewards of the communities in which we live and work. Our firm takes that responsibility seriously and is proud to sponsor developments that are well planned, fiscally sound, and a positive influence on the communities in which they are located. We derive great satisfaction when those objectives are met.
What has been the biggest challenge you’ve dealt with over the past year?
If I said that availability and cost of materials, coupled with a difficult labor environment, were our biggest headwinds, I’d be echoing the challenges that many industries and businesses have faced in the past year. Our biggest challenge is looking around the bend, attempting to understand what changes caused by the pandemic are permanent, and what new trends will evolve. Real estate investors who rely on what worked yesterday as a precursor for tomorrow’s success do so at their own peril.
What do you see as the biggest changes in the real estate and construction industries in the next 3-5 years?
The size of the labor force in the skilled trades was a problem long before COVID and the pandemic only exacerbated the problem. The construction industry is rife with inefficiencies, yet innovation and industrialization have been slow to develop. Advancements in construction methods are imperative to mitigate a decline in skilled labor that will only continue.
What community organizations do you support as a volunteer and why?
Vice Chair – Rochester Regional Health
Vice Chair – YMCA of Greater Rochester
Board Member – ROC2025
ROC2025 has mobilized and focused the private sector to grow the economic health of our region, to create new jobs, increase regional wealth, raise regional GDP and enhance opportunity. To be successful, Rochester needs to be a place that the world’s best talent wants to live. A key ingredient to the ROC2025 initiative and our quality of life is the individual health and wellness of the people that live here. Rochester Regional Health and the YMCA of Greater Rochester have tremendous impact on the health of our population.
What are you most looking forward to doing as COVID restrictions ease?
Reconnecting with many people that have been separated.