MassHousing Honors 93 Property Management Companies for Their Commitment to Minority and Women-Owned Businesses

Maloney Properties, Peabody Properties, Trinity Management, United Housing Management and WinnResidential Management cited for multi-million dollar efforts

BOSTON – November 19, 2013 – (RealEstateRama) — MassHousing recently recognized the efforts of 93 property management companies that make a concerted effort to do business with Minority and Women-Owned Business Enterprises (M/WBEs).

The MassHousing M/WBE vendor program helps Minority and Women-Owned Businesses benefit from the economic opportunities created by MassHousing-financed rental housing. In fiscal year 2013, the 520 rental housing developments financed by MassHousing generated approximately $198.7 million in contracts for goods, services and supplies. Of this amount, $37.5 million (18.9%) went to MBEs and $24.8 million (12.5%) went to WBEs.

As part of its effort to encourage equal opportunities for M/WBEs, MassHousing tracks the expenditures for property maintenance as well as goods and services within the apartment communities that the Agency has financed. It then recognizes those management companies that award significant funds to M/WBEs at an annual awards ceremony.

“The commitment these management companies make to Minority and Women-Owned Businesses has a profound impact not only on our state’s economy, but also in the creation of jobs that benefit thousands of families across Massachusetts,” said MassHousing Executive Director Thomas R. Gleason. “We commend all of these companies for their efforts to use Minority and Women-Owned Businesses and for the economic opportunities they help create every year.”

Maloney Properties of Wellesley, Peabody Properties of Braintree, Trinity Management of Boston, United Housing Management LLC of Boston and WinnResidential Management of Boston received top honors for their multi-million dollar expenditures with M/WBEs.

In fiscal year 2013, WinnResidential Management awarded $6.6 million to Minority-Owned Businesses and $5.5 million to Women-Owned Businesses.

“WinnCompanies is honored to receive this recognition for this important business and social achievement. This is Winn’s 11th straight year of leading the state in Minority and Women-Owned Business employment and we are determined to maintain this focus in the decades ahead in conjunction with our valued, and longtime partner MassHousing,” said Gilbert Winn, Managing Principal of WinnCompanies. Peabody Properties awarded $3.3 million to Minority-Owned Businesses and $1.8 million to Women-Owned Businesses.

“Peabody Properties is extremely proud to once again receive recognition for exceeding our M/WBE goals, acknowledging our dedication to working with Minority and Women-Owned Business Enterprises.

Peabody is committed to increasing procurement opportunities and strengthening the overall health of the Commonwealth,
MassHousing Honors 93 Property Management Companies for Their Commitment to Minority and Women-Owned Businesses which in turn positively affects the lives of all the residents we serve,” said Melissa Fish-Crane, Principal and Chief Operating Officer for Peabody Properties.

Trinity Management awarded $2.4 million to Minority-Owned Businesses and $1.2 million to Women-Owned Businesses “The honor truly belongs to the many Trinity Management Team Members at our properties for their commitment to and consistent efforts in seeking out and utilizing Minority-Owned and Women-Owned Businesses making this achievement possible,” said Trinity Management CEO Kathleen Franco.

Maloney Properties awarded $2.5 million to Minority-Owned Businesses. “We appreciate MassHousing’s long term commitment to the M/WBE vendor program, and we thank them for this recognition. Maloney Properties, Inc. shares the values of this vital program with MassHousing. These are the same values that are at the heart of our company,” said Janet Frazier, President of Maloney Properties. United Housing Management awarded $2.3 million to Minority-Owned Businesses.

“Over the years, MassHousing has been instrumental in our achievement of multi-million dollar awards resulting from expenditures with Minority and Women-Owned Businesses. Consequently, United Housing Management LLC has developed strong partnerships and built strong communities – the partnerships we have established come from individuals who actually reside in the communities. It truly takes dedication and insight to encourage the growth and development of Minority and Women-Owned Businesses.

Thus, we truly appreciate MassHousing’s support towards this endeavor; it is that kind of flexibility and dedication that will help our company grow to its full potential,” said John Strodder, General Manager of United Housing Management LLC. The following companies were also recognized for Million Dollar achievement with M/WBEs within the MassHousing portfolio of rental housing:

• Beacon Management Company of Hingham
• Cornerstone Corporation of Boston
• The Community Builders, Inc of Boston
• Schochet Property Management Company of Boston

About MassHousing
MassHousing (The Massachusetts Housing Finance Agency) is an independent, quasi-public agency created in 1966 and charged with providing financing for affordable housing in Massachusetts. The Agency raises capital by selling bonds and lends the proceeds to low- and moderate-income homebuyers and homeowners, and to developers who build or preserve affordable and/or mixed-income rental housing. MassHousing does not use taxpayer dollars to sustain its operations, although it administers some publicly funded programs on behalf of the Commonwealth. Since its inception, MassHousing has provided more than $16 billion for affordable housing. For more information, visit the MassHousing website at www.masshousing.com, follow us on Twitter @MassHousing, subscribe to our blog and Like us on Facebook.

Media Contacts
Eric Gedstad: 617.854.1079 | egedstad (at) masshousing (dot) com
Tom Farmer: 617.854.1843 | tfarmer (at) masshousing (dot) com