As the scope of Maloney Properties’ business areas has grown over three decades, so have Janet Frazier’s responsibilities at the Wellesley-based property management company.
Frazier and Mark Maloney co-founded the company in 1982, starting out with a single management contract for the Lincoln Woods housing cooperative in Lincoln. Today the company owns or manages more than 9,000 housing units in four states, and it’s expanded into brokerage, development and consulting services.
Maloney Properties’ initially grew by specializing in property management of affordable housing communities, doing the financial and administrative work for developers and helping them navigate complex regulatory requirements.
“We quickly became known for doing that work and meeting all the different requirements. A lot of developers don’t know where to start,” Frazier said.
Maloney Properties now has relationships with dozens of housing communities throughout New England, including such high-profile properties as the Mandarin Oriental in Boston, where it handles marketing of the luxury building’s affordable housing component and administers housing lotteries.
Working with affordable housing communities prompted Frazier to help found a charity to benefit their residents. Along with Diana Kelly, a Maloney vice president, she co-founded FOCUS Inc., a nonprofit that provides services and continuing education. The organization is developing a home for young women who grew up in foster care and become affordable housing residents.
“FOCUS has made this a prime part of its mission and we’re trying to help them these women so they don’t become victims of a system,” Frazier said. “A lot of them end up pregnant and in subsidized housing. We’d like to see these women further enhance these lives and move forward.”
Sudden Changes, And Rising To The Challenge
Frazier’s role within the company changed abruptly in 1999, when Mark Maloney left to become director of the Boston Redevelopment Authority. Due to conflict of interest laws, Maloney’s involvement in the company had to end immediately.
“It happened rather quickly, and there’s a huge change between being second-in-command to all of a sudden dealing with everything,” Frazier said. She credits the teamwork of the board of directors and top management, including her husband Michael, a partner and vice president, with smoothing the transition.
“Our whole staff and board of directors just jumped in and made it happen. It was such a team effort,” Frazier said.
Maloney said Frazier’s leadership style made her well-equipped for the new role as president.
“Janet is one of those people who is real take-charge and helps out without being asked, in a positive, gentle way,” he said. “It was an easy, natural transition for Janet to take the next half-step up.”