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 development and 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. Homes are the building blocks of communities and directly impact peoples lives. People are judged by their communities. 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 vehicle to improve urban neighborhoods and the lives of 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 have raised the bar for Newark's future affordable housing projects.
M & M Development welcomes the opportunity to bring their work and vision to other communities across New Jersey. Their current projects range from affordable rental apartments for People with Special Needs, to affordable condominiums, townhouses and single family homes in Newark and Camden, NJ.
M & M Development is committed to fostering the dream of homeownership and urban renewal. They are pioneering the 21st century housing market with modern 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.