Anthony Bond, CEO, Bond Brothers

In an interview with Invest:, Anthony Bond, CEO of Bond Brothers, discussed the company’s growth, projecting $900 million in business next year, and highlighted key projects like the Commonwealth Fusion Systems reactor and offshore wind initiatives. 

How has Bond Brothers evolved since its founding, and what recent growth milestones have you achieved?

Bond Brothers was founded in 1907, initially focused on general contracting in Greater Boston. Over the past 20 years, we’ve expanded significantly throughout the Northeast, with strong growth recently. Post-COVID, we were doing about $500 million in business; this year, we’re projecting $750 million, and next year, closer to $900 million. This reflects our growing markets and strong client relationships.

A key highlight is our work with Commonwealth Fusion Systems on the first fusion reactor in Devens, Massachusetts, a project with the potential to transform the electric grid with green energy. We’re also leaders in offshore wind, managing everything from onshore cabling to substations, which is crucial for a sustainable grid.

On the institutional side, recent successes include a new high school in Wakefield and a medical office building for Boston Children’s Hospital. Our ongoing projects for Eversource and National Grid across New England further emphasize our role in powering the future.

What are the main sectors Bond Brothers is focused on?

Our work spans several key sectors. Our building group serves major educational and healthcare institutions like Harvard, MIT, and Boston Children’s Hospital, and we have long-standing relationships with public agencies, including the University of Massachusetts system. Our civil & utility group focuses on energy, utilities, and transportation, with major clients like Eversource, ConEd, and the MBTA. We’re also heavily involved in offshore wind projects, supporting the transition to sustainable energy.

What are the biggest challenges facing Greater Boston, and how is Bond Brothers addressing them?

One of the biggest challenges in Greater Boston is the high cost of living. Having grown up here, I’ve seen firsthand how difficult it has become for people to afford housing. High homeownership costs, combined with rising interest rates, make it tough for many to live here. This issue is compounded by inadequate public transportation, which makes commuting difficult without a vehicle. When you add in the overall cost of living and inflation, it’s a challenging situation.

At Bond Brothers, we’re focused on building systems that address these challenges. We work with developers, industry advocates, and groups like the Greater Boston Chamber of Commerce to influence policies that make the city more affordable. It’s important that Boston remains a place where people can enjoy its cultural, historical, and societal benefits. We also emphasize providing good-paying jobs, not just for salaried positions but also for the laborers, operators, carpenters, and electricians who are crucial to our projects. Ensuring they have well-compensated, meaningful work helps them invest in their families and supports long-term prosperity in the region.

What trends are emerging in the construction industry in Greater Boston, and what opportunities do you see as a result?

One of the biggest trends we’re seeing is the impact of interest rates. The cost of capital significantly influences whether our clients, especially in commercial and multifamily developments, can move forward with their projects. It’s challenging for them to make these projects financially viable at current interest rates. Our role is to help navigate these challenges by value engineering projects, ensuring they meet both cost objectives and the needs of those who will live and work in these spaces.

Fortunately, a significant portion of our business is in the institutional market, including higher education and healthcare. These institutions often have substantial endowments they can leverage to continue developing their master plans. Additionally, public funding at the state and federal levels has been crucial in supporting these projects, helping institutions attract top talent and meet the evolving needs of students and patients.

On the energy side, there’s a strong push towards sustainability, with efforts to reduce reliance on fossil fuels and electrify as much as possible. While achieving these goals will take time and careful planning, there is significant momentum. State and local governments are increasingly supportive of expedited permitting processes for renewable energy projects, which is crucial. We’re seeing a positive shift in regulatory and governmental support, ensuring these projects move forward quickly to meet the demands of the next 10 to 15 years.

How does Bond Brothers ensure that new technologies add value to your projects, and what innovations are coming next?

The key with technology is that it must add value. Whether it’s enhancing the final product, benefiting our clients, or aiding our teams in project delivery, the technology we adopt must serve a clear purpose. Artificial intelligence has tremendous potential to improve outcomes because every project we undertake is unique. To put it simply, we’re building custom Lamborghinis every time, there’s no one-size-fits-all process in construction. Each project comes with its own set of circumstances, people, and stakeholders. Our 117 years of history allow us to utilize past data to predict and improve future outcomes, helping us make better decisions to deliver certainty to our clients.

Advancements in virtual design and construction, such as BIM and 4D modeling, are also game changers. These technologies enable stakeholders to visualize their projects in ways that were impossible five to seven years ago. They can see how the construction will unfold, how the building will operate, and how it will be used by facilities teams, healthcare professionals, educators, and the public long before ground is broken. This feedback loop ensures the final product aligns with the client’s vision, creating a powerful tool for success.

How do you support the professional growth of your team and maintain a strong work culture in the competitive construction industry?

In our industry, people are our biggest asset. What our clients truly value are the project teams we assemble – the project managers, superintendents, foremen, laborers, and operators – as those are the folks working through the daily challenges on any project. My job is to ensure they have every tool available to them to be as successful as possible.

Training and development go beyond just teaching our team how to build or follow processes. It’s about helping them understand why each project is important, both to us as a company and to the client. Every project comes with unique challenges, and it’s crucial for our teams to understand those. My father and grandfather always believed that every project manager is the CEO of their own little business. We want our teams to grasp the impact of their decisions on everyone involved, from the team to subcontractors, partners, designers, owners, and other stakeholders.

We provide the necessary tools and technology for success, but we also focus on developing critical thinking skills. Understanding the context of decisions, navigating unique project circumstances, and effectively communicating with stakeholders are where true power lies. Our teams are out there every day, managing the complex inputs that influence a project, and we ensure they’re equipped to make the best decisions daily.

What is your outlook for the construction industry and Bond Brothers in Greater Boston over the next two to three years?

The outlook is quite strong. The Greater Boston area is built on solid fundamentals — strong healthcare, quality education, and a focus on leveraging technology and innovative industries like life sciences and climate tech. There’s also strong alignment between the public and private sectors on what’s important for the region, which will help us weather any economic challenges. While there are issues to address, such as housing and public transportation, I believe the region will continue to thrive.

For Bond Brothers, our goals are clear. We want to support policies that keep Boston and the broader New England area economically vibrant, making it attractive for both existing and new businesses. Having been here for 117 years, we want to ensure Boston is an area where people can thrive personally and professionally for multiple generations.

We’re also focused on growth, scaling our operations, diversifying our markets, and finding new areas where we can add value. It’s about distinguishing our value proposition and ensuring we meet our customers’ needs. Although we’re a construction firm, we operate with a professional services mindset. If we’re not adding value to our clients’ experiences, we’re not in the right business or markets. So, our focus is on expanding while staying true to what makes us valuable to our clients.