Maddd Equities' Principal Jorge Madruga continues to bring major Affordable Housing projects.
In general, many times Real estate development is subject to community opposition, its one persistent challenge for real estate developers navigating local permitting laws is overcoming community opposition. Here is where Madruga looks to balance local concerns while taking advantage of the urgency in the market.
Affordable housing has a wide range of benefits for individuals and families and for communities including improved health, higher employment retention, increased social diversity, increased economic diversity, the prevention of homelessness, and revitalization of the area.
In January this year 2025, according to the New York City Department of Housing Preservation and Development (HPD) released an update on the City’s groundbreaking fair housing initiative—Where We Live NYC. Where We Live NYC is a fair housing plan, first released in 2020, which serves as a roadmap to advance fair housing and promote equity. The Where We Live NYC progress report provides status updates on the six goals, 19 strategies and 81 commitments made in the original Where We Live NYC report. The full progress report can be read here. In this report, the Goal number one is to Fight Persistent Housing Discrimination.
.
This past year, thanks in part to the dedicated efforts of the City Council, advocacy groups, and the NYC Commission on Human Rights (CCHR), the Fair Chance for Housing Act was passed. Under this new law, New Yorkers with conviction records will have new protections from discrimination when applying for housing in New York City and housing providers will be able to conduct criminal background checks on prospective tenants only after reviewing other relevant factors (for example, credit score, income, tenant history). The law, which goes into effect in 2025, aims to curtail the long practice of bad-actor landlords, property managers, and brokers using criminal background checks as a way to perpetuate racial bias and exclude people, disproportionately Black and Latinx residents, from housing. Starting in 2025, CCHR, HPD, and other agency partners will be working to raise awareness, so tenants know their rights and landlords understand their obligations. Giving More New Yorkers a Fair Chance for Housing.
In this sense, Madddequities continue work as Long-delayed Kingsbridge Armory project in the Bronx.
From the Commissioner:
