Midway through the 2019 fiscal year, MassHousing’s multifamily lending has generated millions of dollars in contract awards to minority and women-owned businesses (MBEs and WBEs).
Through its Diversity & Inclusion Division, MassHousing works with developers, general contractors, property owners and managers to set and achieve contracting goals for diverse businesses. Thanks to a shared commitment by MassHousing and its customers, these goals for participation continue to be met and often exceeded.
“It is always great to witness the pride and respect experienced by these businesses as doors are being opened and barriers are removed,” said Andrea Laing, MassHousing’s Director of Diversity & Inclusion.
Construction Contracting: $22.9 million to MBEs, $10.6 million to WBEs
As of December 31, 2018, eight MassHousing-financed construction projects had been completed. These projects awarded a total of $85.9 million in contracts, $22.9 million (26.7%) of which was awarded to MBEs and $10.6 million (12.3%) to WBEs.
Bilt-Rite Construction, the general contractor for Gateway Residences in Lynn, and Landmark Structures the general contractor for Burbank Gardens in Boston’s Fenway section) were both high achievers.
|
General Contractor |
Project |
MBE Goal |
MBE Achievement |
|
Bilt-Rite Construction |
Gateway Residences |
20% |
38% |
|
Landmark Structures Corp. |
Burbank Gardens |
20% |
36% |
In addition, both Gateway Residences and Burbank Gardens also excelled in WBE workforce achievement:
- 2,097 hours were worked by women businesses at Gateway
- 4,944 hours were worked by women businesses at Burbank Gardens.
Keith Construction quadrupled its WBE contract goal at Stratton Hill in Worcester, and NEI General Contracting more than doubled its WBE contract goal at Viviendas Apartments in Boston’s South End.
|
General Contractor |
Project |
WBE Goal |
WBE Achievement |
|
Keith Construction |
Stratton Hill |
10% |
40% |
|
NEI |
Viviendas Apartments |
10% |
22% |
NEI was a high achiever in terms of MBE workforce achievement:
- 17,433 (78%) hours were worked by MBEs at Viviendas Apartments
- 15,527 (70%) hours were worked by MBEs at Marble Street in Worcester.
Data from ongoing construction projects will be available at the end of the fiscal year.
Management Company Contracting: $20.3 million to MBEs, $14.8 million to WBEs
As of December 31, 2018, 370 MassHousing-financed developments awarded a total of $125 million in contracts, $20.3 million of which (16%) was awarded to MBEs and $14.8 million (12%) to WBEs.
Several management companies far exceeded their MBE and WBE goals. Peabody Properties, which is a WBE itself, was a high achiever for MBE awards at Roxse Homes in Boston’s South End and WBE awards at The Fairways in Lakeville. Related Management was a high achiever for both MBE and WBE contracting at Loring Towers in Salem. UHM Properties, an MBE, and Abrams Management also excelled in terms of MBE contract achievement.
|
Management Co. |
Development |
Location |
MBE |
MBE |
|
Abrams Management |
Lionhead Apts. |
Boston, Dorchester |
28% |
81% |
|
Peabody Properties |
Roxse Homes |
Boston, South End |
28% |
74% |
|
Related Management |
Loring Towers |
Salem |
14% |
100% |
|
UHM Properties |
Washington Heights |
Boston, Dorchester |
28% |
77% |
|
Management Co. |
Development |
Location |
WBE |
WBE |
|
Peabody Properties |
The Fairways |
Lakeville |
12% |
68% |
|
POAH Communities |
Machado House |
Hudson |
12% |
75% |
|
Preservation Management |
Cushing Residence |
Hanover |
12% |
68% |
|
Related Management |
Loring Towers |
Salem |
12% |
68% |
Note that these numbers represent six-month totals. Complete data for the 2019 fiscal year will be available in September 2019.
Learn more about MassHousing’s commitment to diversity and inclusion.