Boston – November 19, 2013 – Maloney Properties, Inc. received top honors for awarding $2.5 million to Minority-Owned Businesses. In a recent award ceremony, Maloney Properties, Inc. was recently recognized by MassHousing for their success in doing business with Minority and Women-Owned Business Enterprises (M/WBEs).
The MassHousing M/WBE vendor program benefits Minority and Women-Owned Business Enterprises from the 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.
“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, Inc.