MassHousing Blog

MassHousing Honors Management Cos. for Utilizing Minority, Women Businesses

MassHousing honored 86 property management companies for their commitment to working with minority and women business enterprises (MBEs/WBEs).

Cornerstone Corporation, Maloney Properties, Peabody Properties, United Housing Management, and WinnResidential Management were recognized as Multi-Million Dollar Achievers, and both Beacon Management and Federal Management were honored as Million Dollar Achievers.

Maloney Properties

United Housing Managament

Winn Residential Management

MassHousing has long recognized the economic opportunities created by the rental communities we finance and oversee, and we're committed to providing MBEs and WBEs with equal access to them. Our Compliance & Diversity Division works closely with management companies to set and attain goals for utilizing MBEs and WBEs in obtaining various goods and services. In fiscal year 2012, which ended June 30, MassHousing rental communities awarded contracts totaling $187.3 million. Of this, $36.7 million (19.6%) went to minority-owned businesses, and $22.6 million (12.1%) to women-owned firms.

In addition, the Agency also hosts small business capacity-building workshops, regional technical assistance meetings for property managers, and two trade fairs (including one on November 15 in West Springfield) where MBEs and WBEs can connect with potential business partners.

Learn more about our efforts to provide equal opportunities for MBEs and WBEs.

Charlesview Redevelopment Update



The redevelopment of the Charlesview Apartments in Brighton is well under way. MassHousing provided $106.2 million for the $200 million project, which involves a land-swap with Harvard University; demolition of the existing, distressed Charlesview in Allston; and construction of a new, 240-unit development in Brighton. Here's a brief video on the progress of the complex project.

 

As we say in the video, the Charlesview marks the second-largest financing MassHousing has ever provided for a single development. It's a truly transformative project, and one in which we're proud to play a part.

Coverage of our Record Lending Year

MassHousing recently announced that the Agency set a record for lending in a fiscal year, having provided $965.3 million in financing in FY2012. Several news outlets reported on this accomplishment:

• Boston Globe, "MassHousing lends record $965m in 2012"
• Banker & Tradesman, "MassHousing Breaks Its Lending Record With $965.3M In Affordable Housing Loans"
• LoanSafe.org, "$1 Billion Announced by MassHousing to be Used for Affordable Housing"
• BisNow.com, "Record Year"

If you'd like the news straight from its source, here's MassHousing's announcement.