SEWARD PARK EXTENSION
ESSENCE DEVELOPMENT
Essence Development is a social impact development company that aims to build sustainable, energy-efficient affordable and workforce housing and mixed-use developments in urban areas that include health and nutritional solutions, not-for-profit partners and services, and workforce development opportunities. A 100% minority-owned firm, Essence Development was founded in 2020 on the idea that providing top quality housing, while offering social, economical, and healthy living opportunities is fundamental to creating real change. Our purpose is to cultivate a community based on shared values and needs, offering residents all the resources available for a prosperous living experience. Essence Development was recently named the NYCHA PACT Development Partner for the renovation of the Fulton/Elliott-Chelsea Houses in Manhattan.
OUR TEAM
MDG DESIGN + CONSTRUCTION
MDG Design + Construction will be a co-developer and general contractor over seeing development and all construction activities. MDG specializes in the rehabilitation and new construction of residential apartment buildings in New York City and Long Island with a focus in affordable housing. Since its formation in 1988, MDG and their affiliates have been involved in the renovation and or new construction of over 1,000+ different properties with more than 23,500+ units at a total development cost of over $3.6 billion.
MDG combines the experience of many decades of affordable housing development and construction with the nimbleness, flexibility, ease of decision making, and motivation of a tightly held owner-operated business. Michael Rooney Sr. and Nicola DeAcetis, the founders of MDG, have been and continue to be involved in every single project, along with CEO Matthew Rooney, bringing their expertise and leadership to the development team.
WAVECREST MANAGEMENT
Wavecrest Management is a family-owned and operated management company committed to preserving the financial and physical viability of residential buildings across New York City, Nassau, and Westchester counties. It is our goal to ensure that residents of our properties are proud to call their buildings home.
As one of the largest management companies in New York City, overseeing more than 30,000 units in buildings of all sizes, the Wavecrest team takes a personal approach to our work, holding ourselves responsible for the efficient, diligent, and considerate administration of all building operations. Wavecrest meets the financial and legal expectations of our building owners while providing our residents with the respect, attention, and assistance needed to maintain a safe, clean, and well-cared-for place to live. Many of our employees are long-term members of the Wavecrest “family” and residents regularly come to know our executive team personally.
WE HAVE PUT TOGETHER AN EXPERIENCED AND DIVERSE TEAM TO WORK WITH THE RESIDENTS OF SEWARD PARK EXTENSION
To deliver renovations and upgrades to buildings and housing units that they can be proud of. We are proposing a partnership of Essence Development, a certified MBE, MDG Real Estate Partners and Wavecrest Management to bring long overdue repairs of essential building infrastructure, apartment renovations and upgrades, trustworthy and high-quality management, and additional resident programming and resources.
We believe in a resident first approach. This means we understand that we must learn about the residents at Meltzer Tower to understand their current living experiences and then work in partnership with them to plan for solutions that meet the needs of their community. To successfully implement our strategy of people-first development, we have proposed a robust scope of work addressing critical needs, resident requests, community amenities, as well as ensuring that these buildings are sustainable and futureproof. Residents will be serviced by a management team that brings clear expertise in delivering high-quality service and attention to detail. Clear, consistent, two-way communication will be the hallmark of our skilled development and building management team.
Essence RDC’s proposal for Meltzer Tower draws on our experience with NYCHA PACT projects and carefully considers the residents input reflected in the Resident Review Committee PACT Priorities document and our conversations with the residents during the site tour, site tours to RDC Real Estate Development Partners LLC’s Betances Houses, as well as the demographics of the site.