M & M Development L.L.C was founded in 1997 by Maria E. Yglesias and Maria Del Mar Lopez. The two immigrants from Spain shared a friendship and a passion for the housing construction business. Cathedral Homes, in Newark’s Central Ward, was M & M Development’s first Affordable Housing project.
M & M Development’s success in the affordable housing world is based on the firm belief that a home is much more than four walls and a roof. Houses are the building blocks of communities and impact peoples lives. People are judged by the communities they come from and being part of a certain community can by itself hinder or help a person’s prospects for success in life.
The Marias, as they are known in the business, believe that Affordable Housing should be the means to improve urban neighborhoods and the lives of the people in urban communities. They proved this point with their affordable rental project, Villa Esperanza, in Newark’s South Ward. These award winning buildings, located at Shephard Avenue and Osborne Terrace have become a beacon in the community and raised the bar for all future affordable housing projects.
M & M Development welcomes the opportunity to bring their work and vision to communities across New Jersey. Their current projects range from affordable rental apartments for People with Special Needs, to affordable condominiums and single family homes in Newark and Camden, NJ.
M & M Development is committed to fostering the dream of homeownership and urban renewal by pioneering the 21st century housing market with modern condominium buildings designed to maximize the use of available land and resources, incorporating green and energy saving features in the construction of affordable, attractive and energy efficient homes.