Michael Spoleta

Michael Spoleta

CEO, Spoleta Construction and Spoleta Development

Years in current role: 39

What do you enjoy most about your role?

The most rewarding aspect of my 39 years in a 63-year-old, fourth-generation, family-owned business such as Spoleta Construction and Development is seeing a conceptual project evolve from beginning to end. Not every commercial builder is a developer and not every developer is a builder, which has provided me with the skills and knowledge to navigate the complexity of the construction and real estate development markets. It has given me an incredible sense of pride to be able to continue the legacy and vision of both my grandfather and father before me with dedication to their professional and ethical approach to doing business.

What has been the biggest challenge you’ve dealt with over the past year?

The most difficult challenge over the last year, like all businesses, has been dealing with the day-to-day COVID crisis. For the last year Spoleta Construction and Development has been balancing between keeping all office and field employees safe, while continuing to keep construction projects moving forward on time. The significant impact across the country has resulted in the shortage of labor in the workforce locally and nationally which has led to drastic inflation of construction materials, limited supply of goods and materials, delivery and timing delays, along with having to deal with disruptions that vendors, subcontractors and other contractors have had to deal with.

What do you see as the biggest changes in the real estate and construction industries in the next 3-5 years?

The biggest issues I foresee within the next 3-5 years to the real estate and construction industry is the rising of interest rates, resulting from high inflation. Rising interest rates impact the cost of construction as well as financing, which could hinder or cancel new development and building projects. Market conditions influence whether projects will be financially feasible.

Another major challenge is the skilled trades labor shortage, which is already impacting the construction industry especially. The demand for skilled tradespeople will far outweigh the supply of those with the qualifications to complete the planned construction projects.

What community organizations do you support as a volunteer and why?

Spoleta Construction and Development has been a family-owned business for 63 years in the Rochester area and has been influential in building our local community. It is extremely important to myself and the company that we continue to support and service the organizations within the Greater Rochester area that have benefitted those people in the community. I have been on the Board of Trustees for Hope Hall School for 27 years and our company actively supports Al Sigl Center, Gigi’s Playhouse, Pluta Cancer Center Foundation, Bivona Child Advocacy Center and Camp Good Days and Special Times.

What are you most looking forward to doing as COVID restrictions ease?

I’m most looking forward to the relaxed guidelines for social interactions both on a professional as well as personal basis.