N E W S  R E L E A S E

MALONEY PROPERTIES, INC. CELEBRATES 25TH ANNIVERSARY

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(Boston) Maloney Properties, Inc. (MPI) recently announced plans to celebrate its 25th anniversary.

Janet Frazier, President/CEO announced that in recognition of the firm’s 25th anniversary, a $25,000 annual scholarship fund has been established to provide scholarships to residents of properties managed by MPI.  Ms. Frazier said “the intent is to broaden the educational opportunities for deserving young people who live in our communities”.  MPI scholarships will be awarded for the 2007 academic year and will be given based on financial need, scholastic achievement, and personal character.

In honor of the 25th anniversary, the company owners and staff will gather in mid-September for an all day staff celebration and team-building event.  “MPI opened its doors for business in 1981, and has steadily grown into a tremendously successful company.  This milestone belongs to all of us.  We are proud of the work that we do, and want to express our sincere appreciation to our staff for their outstanding work and commitment”, said Ms. Frazier.

In 1981, MPI managed fewer than 200 residential units with just 6 employees.  Twenty-five years later, and now 300 employees’ strong, the firm provides a broad range of services to more than 7000 residential housing units in Massachusetts, Vermont, and Rhode Island. MPI also provides real estate brokerage services for large-scale developments, comprehensive resident services, construction management, and consulting services covering financial management, regulatory compliance, housing tax credit compliance, relocation, training, and energy conservation. 

MPI is a certified women-owned business and is recognized as a leader in the property management industry.

BETHANY HILL SCHOOL RECEIVES

NATIONAL AWARD FOR EXCELLENCE

Bethany Hill School, Inc., a Framingham apartment complex managed by Maloney Properties, Inc., was presented a national award by the MetLife Foundation at the Enterprise Network Conference in Washington, D.C. on November 9, 2005.  Bethany Hill School received 1ST Place for Excellence in Affordable Housing in the Property and Asset Manager category along with a $25,000 award. The annual awards program is designed to recognize innovation and leadership in the development and operation of affordable housing by non-profit groups throughout the country.

The Congregation of the Sisters of Saint Joseph of Boston, an Order working for more than 70 years in the Boston area to provide educational and health services to the community, rehabilitated their former educational residence in the early 1990’s.  Teaming with South Middlesex Opportunity Council and other metro area agency sponsors, the Congregation developed Bethany Hill School to provide educational housing for low-income families and individuals. 

Bethany Hill School is located on a 100-acre semi-rural campus, which includes a community garden, picnic benches, a playground and basketball courts.  In addition to studio and congregate accommodations for about 30 individuals, Bethany Hill School provides ample space for families in its nine four-bedroom and ten two-bedroom apartments.  Community spaces for workshops, staff offices, a playroom for children, a laundry room and a computer lab are located on the ground level.

Maloney Properties has served as the property management company since 1995 overseeing the day-to-day operations of Bethany Hill School.  Maloney Properties handles a diverse portfolio of over 7,000 affordable and market rate apartments, many of which offer a resident services component.  Ms. Janet Frazier, President/CEO of the firm responded to this recognition by saying, “We are very proud of the work that we have done together with the Sisters of Saint Joseph and the Bethany Hill School Board of Trustees to create this extraordinary housing model, and we congratulate them for this well-deserved recognition”.

MetLife Foundation, established in 1976, supports various educational, health, civic and cultural organizations across the country, including a commitment to building healthy communities, a key component of which is affordable housing.  MetLife and the MetLife Foundation have supported Enterprise’s housing and neighborhood revitalization activities with grants and loans of more than $34 million.

Enterprise helps America’s low-income families with their struggle out of poverty by providing decent homes, access to steady employment, quality childcare and safer streets.  Working with a network of 2,500 community organizations nationwide and through its 17 offices, Enterprise has leveraged close to $6 billion to help build almost 175,000 affordable homes.