L+M Development Partners Names SVP Stephen Bonasera Partner

NEW YORK, NY  —  National mixed-income and affordable housing leader  L+M Development Partners (L+M) today announced that Senior Vice President of Preconstruction Stephen Bonasera will become Partner as the firm continues to advance operations and grow its portfolio in the New York metropolitan area and nationwide. In his new role, Bonasera will be an integral part of L+M’s development pipeline and diversification strategy, continuing to drive high quality, sustainable affordable housing to the market sooner.

With over 25 years of experience in the construction industry and over 15 years at L+M, Bonasera has deep expertise in overseeing projects through the design and construction phases while ensuring they stay on budget. Under Bonasera’s leadership, the Preconstruction team has grown to 14 members and has advanced the firm’s capabilities in building sustainable and resilient developments, including complying with passive house design principles. 

“Throughout his career at L+M, Stephen has been a key part of our company’s success by leading new initiatives, fostering design efficiencies and overseeing the expansion of our Preconstruction team,” said Lisa Gomez, Chief Executive Officer and Partner, L+M Development Partners. “I am confident that with his elevation to Partner we will continue to deliver high-quality affordable housing in expanded markets while maintaining our commitment to working together to build stronger communities.”

Since joining L+M, Bonasera’s work has been integral to the success and growth of the company. When he first joined the firm, Bonasera worked to standardize and develop best processes for L+M’s Preconstruction operations. As the amount and scale of L+M’s projects grew, the Preconstruction department expanded to include engineers, architects, interior designers and expeditors. The turnkey department now bridges the development and construction groups at L+M and works to improve the design and budgets of projects that the firm will own and operate for years to come. In addition to the development and construction groups, Bonasera and the Preconstruction team also work closely with L+M’s affiliated property management team (C+C) to learn from existing property performance and how they can improve in future developments.

With Bonasera at the helm, the new construction business line has become an area of focus for the Preconstruction team. With changes to codes and mandates to electrify future developments, Bonasera and his team have continued to research and develop tactics on how to meet these requirements while maintaining quality, costs, and operational expenditures. This has resulted in the reliance on solar, geothermal and air source heat pump technology — all of which are planned for the firm's current projects in the preconstruction phase. Throughout his tenure at L+M, Bonasera has worked on several projects that focused on sustainability and affordability. From collaborating with multiple developers on the Essex Crossing project to working on Sendero Verde, the largest passive house development in the country, Bonasera brings unparalleled knowledge and experience to his new role as Partner.  

Bonasera received a bachelor's degree from the University of Maryland in civil engineering.  Prior to joining L+M, Bonasera worked at Triton Construction and started the company’s construction estimating department. Bonasera helped Triton diversify their projects from schools into multiple new categories including fire stations, libraries and, namely, multifamily residential developments, leading Bonasera to L+M in 2008.

 

About L+M Development Partners

At L+M Development Partners, working together to build stronger communities is our mission. Our double bottom line philosophy means that we measure success not only in financial returns but also by the positive impacts we make in the communities we serve. Founded in 1984, L+M is a full-service real estate development firm that develops, invests, constructs, and manages properties with industry-leading innovation. Recognized as a top affordable housing developer, L+M and its affiliate companies are responsible for approximately $16.5 billion in development and investment and have acquired, built, or preserved over 46,000 high-quality residential units in a variety of urban markets nationwide, primarily in New York’s tristate area.