Derrick Lovett
President and CEO
MBD Community Housing Corporation is gearing up to celebrate its 50th anniversary in 2024. Reflecting on this significant milestone, we take great pride in the enduring legacy forged by our founders. Born out of neighborhood activism, our work has consistently demonstrated an unwavering commitment to the Bronx community and our residents.
Since completing our first development, Charlotte Gardens, consisting of 89 single-family homes, MBD has embarked on numerous projects that have been pivotal to our remarkable growth. Our portfolio currently stands at over 3,000 housing units representing investments of $562 million. Notable developments include the award-winning 425 Grand Concourse, a 227-unit development which stands as the largest Passive House (PHIUS) project in all of North America.
As a NYCHA PACT developer, MBD has had the honor of being part of the process in upgrading thousands of low-income units impacting numerous families across Bronx’s public housing community
Additionally, we have successfully repositioned our older housing stock within MBD’s portfolio, upgrading major building systems and restructuring the financing to ensure the long-term preservation and viability of hundreds of affordable housing units – and in the process, shoring up the organization’s fiscal strength.
As we celebrate these accomplishments, we also confront the sobering reality of the nation’s housing crisis and wealth gap, which profoundly impacts the Bronx community. A staggering 38% of the city’s homeless shelter occupants are from the Bronx, highlighting the pressing need for additional investments in economic opporutnity and low income housing.
While we know we cannot single-handedly solve the nation’s housing crisis we firmly believe in the power of quality housing to uplift. According to the Urban Institute, access to quality housing is pivotal for socio-emotional well-being, health, and economic success. At MBD, we are driven by the conviction that providing people with high quality, affordable housing can empower them to conquer the world.
Our aim is to consistently drive our community beyond any perceived constraints by honoring the high standard of success set nearly half a century ago. Genevieve Brooks, MBD’s co-founder, and first President, imparted valuable wisdom when she said, “It is important to not wear the labels placed on you, it is important to wear your own labels.” This profound sentiment continues to inspire us every single day.
On behalf of our board of directors and staff, MBD extends our deepest gratitude to our dedicated staff, generous donors, and invaluable development partners who make our work possible. And to the Bronx community, we thank you for placing your faith in our leadership. Together, we forge ahead to make a lasting impact in the lives of those we serve. The future holds great promise, and we eagerly embrace the opportunities that lie ahead.
Sincerely,
Derrick Lovett
President and CEO