Minority Business Participation
and Resident Employment Experience
Successful real estate development goes beyond bricks and mortar. It is about buikding communities and creating jobs. At Beacon Residentail Properties (BRP), we envision our developments as vehicles for generation business and employment opportunities for local companies and residents. This commitment guarantees that both physical and economic environments are transformed. Without exception, our developments provide significant employment opportunities for local and Minority Business Enterprises, Women Business Enterprises (M/WBE), and Section 3 residents.
At BRP, we do not want to be in a community, we want to become an important part of it. We begin each project with extensive community outreach. We work closely with local housing authorities, neighborhood groups, and other organizations to meet and identify local and M/WBE vendors who can provide the high quality products and services the project demands.
Establishing contracts for design and engineering, property management, human services, relocation, and construction, has mutually benefited M/WBE firms and BRP properties past and present. For example, Mandela Homes, our newest project in Boston, has awarded 60% of the construction contracts to M/WBE businesses. At Elm Haven in Connecticut, 20 M/WBE and Section 3 businesses have participated in over $1 million woth of pre-construction planning, architectual, engineering, environmental, and human services. And, at Allequippa Terrace in Pittsburgh, over 35% of contracts will be awarded to M/WBE businesses.
BRP's redevelopment projects also allow us to encourage and support resident employment. Through our projects, we strive to create a new awareness of job opportunities in the fields of design, construction, and management. Our team members have pledged to consistently meet or exceed local and federal established M/WBE and Section 3 goals by employing residents and by sponsoring employment traing, career awareness, and educational programs in their respective fields.
Our team has extensive experience in developing employment programs for low-income residents. Our goal is to employ residents on-site and to assist in the formation of small business ventures and to help grow independent small businesses. At Elm Haven for example, more than 50% of the management positions are held by residents.
