Quality Service
MBD COMMUNITY HOUSING
Mission
MBD Community Housing Corporation seeks to improve the quality of life of our community through housing development, property management, economic development, and the delivery of human services.
About
MBD has successfully sponsored, constructed, and renovated over 7,000 units of housing. In addition, MBD sponsored the construction of the New Horizons Retail Center, which has created over 200 full-time and part-time permanent jobs and includes retail stores such as Pathmark, AJ Wright, IHOP, Radio Shack, Game Stop, and Subway.
Maintenance
Our experienced management agent staff is involved in every aspect of the building operations. We focus on maintaining and improving the properties’ structure and systems and specialize in providing preventive maintenance services.
Services
MBD’s Social Services department provides case management services to strengthen families in the community. Service Coordinators, based in MBD’s senior and family housing developments, provide a full range of social services for senior and family care. The department also provides housing referrals, public welfare assistance, and outreach services for health monitoring and medical examinations.
Our Pledge
Derrick Lovett President & CEO
5Derrick Lovett is CEO of MBD Community Housing Corp (“MBD”) in the Bronx, where his leadership has helped bring quality affordable housing and services to thousands of residents. A Marine Corps veteran, Derrick spent over 25 years in banking, rising from bank teller to Vice President at J.P. Morgan Chase and Citigroup, where he specialized in commercial real estate lending.
Since joining MBD in 2009, Derrick has overseen more than $1B in construction and rehabilitation financing, impacting over 3,000 affordable housing units and more than 12,000 residents, including children and seniors.
His contributions have been recognized with numerous honors, including the 2023 Hector Figueroa Leadership Award (Urban Green Council), the Impact Award for Community Investment (Citizens Housing Planning Council), and awards from the Bronx Chamber of Commerce, New York Housing Conference, and NAACP.
Derrick holds a BA from Fordham University and a Real Estate Certificate from New York University.
Partners
Portfolio
MBD WE Mobley, LLC
MBD WE Mobley, LLC is a 128-unit Low-Income Housing Tax Credit site, developed in partnership with Fannie Mae and JP Morgan Chase. This project, named in honor of MBD’s board chair, Wallace E. Mobley, involved a comprehensive gut rehabilitation to enhance the living standards and efficiency for our residents. Completed in June 2017, the redevelopment included the replacement of all major building systems and interiors, resulting in improved functionality and a better quality of life for our residents.
Rose Ellen Smith MBD LP
Rose Ellen Smith Housing for the Elderly is a 28-unit senior housing redevelopment with total renovation costs of $13,132,710. MBD’s partners in this HUD-assisted development (Section 8 and Section 202) include JP Morgan Chase and Fannie Mae. MBD’s service coordinators provide supportive services and special events for our senior residents. This project was completed in May 2017.
Mid Bronx Plaza Assoc. LP
Mid Bronx Plaza Assoc. LP is a 186-unit, HUD-assisted senior housing site (Section 8 and Section 202) with Low Income Housing Tax Credit financing completed in 2012. Partners in the substantial rehabilitation of this $32 million project included Wells Fargo and NYC Housing Development Corporation. This site offers supportive services and special events for senior residents facilitated by service coordinators.
Minford Gardens
Currently under redevelopment, Minford Gardens, is a Project-based HUD 202 development with 77 units housing low-income elderly residents. MBD is pursuing upgrades to maximize comfort for the residents and improve building systems with energy and water efficiency measures.
MBD Silva Taylor LLC
MBD Silva Taylor, LLC is a clustered site Low Income Housing Tax Credit development that renovated and repositioned 19 MBD buildings with a combined total of 417 units. Key partners on this $68 million project include NYC Housing Development Corporation and Wells Fargo.
Don LW LLC
DON LW, LLC is a clustered site, Low Income Housing Tax Credit development totaling over $57 million. Completed in 2018, the project is comprised of 270 low-income units across 11 buildings. MBD partners on this site included Chase as the construction lender with NYC HDC providing the permanent loan.
Baychester Murphy
MBD partnered with L+M Development Partners on the Baychester Murphy NYCHA/PACT. Completed in December 2020, this $170 million project renovated 721 units across 14 buildings scattered throughout the Tremont and Edenwald sections of the Bronx.
1490 Crotona Park East
MBD completed the substantial renovation of 1490 Crotona Park East in 2015. The 39-unit HUD/ HAP development serving low-income residents totaled 12 million with Chase Bank as the construction lender and NYC HDC providing the permanent loan.
425 Grand Concourse
425 Grand Concourse is an award-winning Passive House certified development providing 277 units of affordable housing, a much-needed medical center and an educational facility for CUNY Hostos students.
Designed by Dattner Architects the 26-story building consumes 70% less energy than conventional housing of its size, reducing carbon emissions in an area plagued with one of the highest levels childhood asthma rates in the United States. Completed in 2022, project partners for this $178.5 million development include Trinity Financial (co-developer), NYC Housing Development Corporation and Citibank.
Mid Bronx Desperados
Executive Leadership
Derrick A. Lovett, President and CEO
Ruby Rodriguez, Vice President
Patrick Metellius, Director of Property Management
Edgar Laurente, Director of Finance & Accounting
Wallace E. Mobley
Board Chair
April Horton
Treasurer
Phyllis Williams
Secretary
Kenneth Morrison
Board Member
Linda Sargeant
Board Member