Meet The Team: Murphy Mosaic
Murphy Mosaic is a partnership between four affordable housing organizations, MDG Design and Construction, Bronx Pro Group, Settlement Housing Fund, and Wavecrest Management. Each team has decades of experience building, preserving, and managing affordable apartments in the Bronx.
Our Shared Mission: to bring comprehensive repairs, new property management, and social services to Murphy Private all while maintaining affordable rent and resident protections through NYCHA’s Permanent Affordability Commitment Together (PACT) program.
MDG was founded in 1988 by Michael T. Rooney and Nicola DeAcetis. To date, MDG has created or preserved over 900+ buildings and 23,300+ units of affordable housing and is responsible for over $3 billion in construction and development–all affordable housing. MDG has substantially completed the development and/or construction of over 5,591 PACT units, with another 1,621+ PACT units currently in construction and 400+ units in pre-development. MDG’s success is due to its hands-on approach working jointly with government agencies, community groups, financial institutions, building managers, Resident Associations, and residents. To date, MDG has hired 187 Section 3 workers from our NYCHA sites, contracted $64.8MM+ in contracts with local Minority and/or Woman owned businesses, and has developed social service budgets that will invest $17.5MM+ towards long term service programming at our PACT sites.
Bronx Pro Group LLC (Bronx Pro) is a women led, certified WBE developer with decades of experience as an affordable housing developer, property manager, and owner in the Bronx. Bronx Pro has a successful history of working with communities to transform neighborhoods by preserving housing and city-owned assets. In partnership with NYCHA, Bronx Pro renovated 485 units of low- and moderate-income rental apartments at University Avenue Consolidated (UAC) in the Bronx. The UAC developments were transformative to the Morris Heights community creating vibrancy, safety, and economic activity. Additionally, the company has preserved 561 units of distressed in rem housing stock through HPD’s NEP and TPT rehabilitation programs. Since 1998, Bronx Pro has developed 2,915 affordable housing units, 2,679 of which are in the Bronx. Bronx Pro distinguishes itself by a strong commitment to long-term asset management that ensures sustained affordability.
Settlement Housing Fund (SHF) is a not-for-profit affordable housing developer founded in 1969. SHF constructs and manages new affordable housing, acquires and rehabilitates existing buildings, and upgrades properties to maximize long-term impact. SHF has developed 73 projects with over 9,000 apartments, which are home to more than 25,000 low-income, moderate-income, and formerly homeless New Yorkers. Settlement currently owns 42 buildings with 2,500 apartments and has five projects under construction or in predevelopment in the Bronx, Manhattan, and Brooklyn that will add 700 units to our portfolio. Settlement’s largest concentration of housing and programs is in the Mt. Eden section of the Bronx, where we own 20 buildings. Settlement recently completed a major tenant-in-place rehabilitation project in the 14 original buildings in our New Settlement Apartments development, upgrading kitchens and bathrooms in 893 units and introducing energy efficiency improvements,including the largest solar array on privately owned affordable housing in New York City.
Wavecrest Management is a full-service management company with over 29,000 units under management, of which, 7,500 units are Project Based Section 8, including HAP contracts administered through HUD and CGI (private sector partner selected through a competitive procurement process), Project Based Vouchers, and NYCHA public housing. Wavecrest has an office staff of 200+ employees that provide full management services and oversees a maintenance staff of 700+. Wavecrest’s specialty is the management of affordable rental housing, including HUD Project Based Section 8 and tax credit properties. Wavecrest has an extensive history of turning around distressed properties, providing social services, and bringing budgets in line. For this project, Wavecrest will leverage its experience managing Ocean Bay (Bayside), Betances Houses, and Williamsburg Houses to address deferred maintenance items immediately upon mobilization to the site and to develop a pre-closing HQS Repairs Plan.
Matthew Rooney
Principal CEO
MDG Design & Construction
OUR TEAM
Judy Herbstman
President
Settlement Housing Fund
Susan Camerata
Principal CFO
Wavecrest Management
Sam Magistro
CEO
Bronx Pro Group