Q&A with John Mingione, CEO of Omnibuild

Q: Many aspects of the building industry can be unpredictable and difficult to forecast in both positive and negative ways. What are your thoughts on the current state of the construction space and its post-pandemic future?

A: The construction industry has bounced back since the pandemic. As of today, prices and lead times on certain materials and building components have not improved in the way that we had hoped. Currently, due to the 421a deadline, the construction industry is very busy with many residential + mixed-use projects throughout the five boroughs. However, there are always mitigating factors that throw a wrench into the current activities. Developers are under pressure to TCO their projects with a 421a status before the current June 2026 deadline, but, the current interest rates are causing them to hesitate and delay their plans.?

Overall, we’re seeing a healthy number of deals flowing in and we hope projects will commence on their targeted start date. If and when interest rates go down, I am confident that many more projects will begin. We haven’t seen as much renovation work as we did prior to the pandemic, but I believe the hotel industry will start renovations in 2024 into 2025.?

Q: Omnibuild is growing rapidly and continues to outperform. What is your vision for the future of the company and what do you expect to see it accomplish?

A: Here at Omnibuild we pride ourselves on being competent builders. My vision for the future is to take on larger and more complex projects. We have promoted staff into leadership roles, especially those who have been with us for many years. Our targeted goals are to continue being an industry leader while providing our clients with great service and great quality.?

Q: In the first quarter of 2023, Omnibuild announced several significant employee promotions. Speak to these and how they play a role in the restructuring of the organization.

A: The promotions were intended to grow the staff from within. Our expectation was always to have our APM’s become PM’s, and eventually Executives – the same applies to our assistant superintendents and office staff. Growing organically shows the new and younger staff members that hard work and dedication will move you up the ladder.?

The latest promotions were intended to help bridge the gap between the field and the office. Bridging that gap in the construction industry is always a challenge, but times are changing and this a critical component in building a successful and sustainable company. Furthermore, these promotions will now allow Peter and I to focus more on finding new projects for Omnibuild, which will carry us into the future, along with streamlining processes which will allow us to run more efficiently.

Q: What is the vision behind the restructuring? Can you expand on the purpose and goals especially as they align with where you believe the construction industry is headed over the next few years?

The vision is to always reinvent yourself with changing times. We look at the latest technology and automation that will help serve our industry better. We look at how to make the workplace safer and more efficient. We are always seeking out new talent and we find ways to train our staff to adjust with the ever-changing industry. The construction industry is always evolving so we need to make sure we stay two steps ahead.