Standard Communities

Standard Communities is excited to announce that we have completed the largest affordable housing transaction of 2024, acquiring a portfolio valued at $1 billion consisting of more than 6,000 apartment homes in 60+ communities. With this landmark transaction, Standard entered three new states—Arizona, Colorado and Texas—while significantly growing its California portfolio. Home to over 13,000 residents, the communities serve a mix of both families and seniors. The properties, on average, were built in 2002, and the majority were developed by the Seller. Standard will invest over $30 million into capital improvements and deferred maintenance items across the portfolio without displacing any residents to ensure that the communities remain affordable and resilient for years to come. This acquisition expands Standard's national portfolio to nearly 27,000 apartment homes, now providing affordable housing for approximately 60,000 residents across 21 states. In a challenging market, this transaction showcases our team’s expertise and dedication to preserving affordable housing on a large scale. Navigating new financing facilities, tax credit investor partners, non-profit partners, ground lease buyouts and loan assumptions with numerous governmental and private lenders simultaneously on a fixed timeline required highly coordinated efforts, deep expertise and a focus on our mission to create more vibrant, sustainable and affordable communities. This transaction speaks to our commitment to affordable housing and the strength of our people who make it possible. We are excited to build on this momentum and are actively pursuing additional large-scale opportunities that align with our mission to create vibrant, affordable communities. With every project, we reinforce our dedication to delivering high-quality, affordable homes and expanding our impact nationwide. Congratulations to the Standard team! Jeffrey Jaeger Scott Alter Christopher Cruz Keith Dragoon Joon Lee Joshua Skolnick Cameron Chase Katherine Smith Patrick Muto Justin JH Yoo Joe Ouellette Mike Martin Matt Dolins Brad Martinson Albert Manjarrez Kevin Luong Emmy Khuu Read more here: https://lnkd.in/eBXNYg5m #StandardCommunities #SettingtheStandard #MoreGreatPlacesToLive #QualityHousing #StrongCommunities #AffordableHousing #Housing #Community

At Standard Communities, we prioritize a healthy and happy team by contributing to employee medical, dental and vision premiums, including dependents, with both HMO and PPO plans available. We also provide basic life insurance at no cost, with options for supplemental life insurance and additional coverage like Hospital Indemnity, Critical Illness, and Accident insurance. These benefits ensure that our team members and their families are supported and prepared for the unexpected, allowing them to focus on what truly matters. Taking care of our team is our top priority. #StandardCommunities #QualityHousing #StrongCommunities #Wellbeing #Support #ComprehensiveBenefits

We are thrilled to announce our first investment in Michigan with the development of River’s Edge, a ground-up affordable housing community in Kalamazoo. River’s Edge will include 228 units and feature two 4-story buildings, a live/work building, a commercial space, and resident amenities such as a fitness center, playground, and outdoor patio. The development is connected to the 35-mile Kalamazoo River Valley Trail, offering accessibility and connectivity to the surrounding community. This project represents a significant step forward in our mission to create vibrant, sustainable communities that provide high-quality affordable housing for families. Collaborating with our public and private partners has been instrumental in making this vision a reality, and we look forward to continuing our work in Michigan. The development is a joint venture between Standard Communities and River Caddis Development. The public private partnership includes the Michigan State Housing Development Authority, Kalamazoo County and the City of Kalamazoo. WNC & Associates is the equity partner. Congratulations to the Standard team! Scott Alter Jeffrey Jaeger Robert Koerner Jesse Frageman Read more here: https://lnkd.in/eyRUjGXu #standardcommunities #qualityhousing #strongcommunities #affordablehousing #publicprivatepartnerships #housing #community #construction

The key to our success is our people. At Standard Communities, we believe in supporting our team members both professionally and personally. That's why we offer a comprehensive benefits package designed to meet the diverse needs of our team. From medical, dental, and vision coverage to a 401(k) plan with generous matching, to supportive time off and so much more, we’ve got you covered. #StandardCommunities #QualityHousing #StrongCommunities #Wellbeing #Support #ComprehensiveBenefits

Standard Communities has led a public-private partnership to acquire Laurel Hill Apartments, a 100% affordable community in Shelby, NC. Standard plans a comprehensive rehab that includes addressing deferred maintenance and updating features in the units and amenities for residents. The transaction exemplifies Standard’s commitment to preserving and creating affordable housing through strong public-private partnerships. Thank you to our partners! North Carolina Housing Finance Agency Fannie Mae Regions Bank U.S. Department of Housing and Urban Development Great work from our Standard team! Jeffrey Jaeger Scott Alter Robert Koerner Tommy Attridge Robert Fine Read more here: https://lnkd.in/ewQQ-fDe #standardcommunities #qualityhousing #strongcommunities #affordablehousing #publicprivatepartnerships #housing #community #construction

Come join our Standard team! We are hiring Portfolio Accountants to support our growing portfolio. Submit your application today!

Together with our dedicated project partners, local elected officials and residents, we recently celebrated the grand opening of Aspen Wood, a milestone that marked the culmination of hard work and collaboration. Aspen Wood provides 123 units of affordable housing to seniors in San Ramon, CA. Amenities at the 130,000 square foot community include a recreation deck/courtyard, fitness center, business center, community room and pet spa. Congrats to our Standard team! Robert Koerner Jeffrey Jaeger Scott Alter Feras Qumseya Judd Ullom, LEED AP Patrick Lyons Keith Dragoon Jessica Mackenzie Tim Bourassa Brian Yang Adam Stewart Jessica Yoon Thank you to all of our incredible partners! East West Bank Candeur Group, LLC Boston Financial City Of San Ramon California Municipal Finance Authority Housing on Merit Apartment Management Consultants LLC LCA Architects Inc. Deacon Construction, LLC dk Engineering #standardcommunities #qualityhousing #strongcommunities #affordablehousing #seniorhousing #publicprivatepartnerships #newconstruction #development #housing #community #construction

We are excited to share that AHF released its annual Top 50 list. Standard Communities continues to grow! This year, we ranked:  #9-Companies Completing Substantial Rehabs in 2023 #10-Companies Completing Acquisitions in 2023 #15-Largest Affordable Housing Owners A huge thank you to our dedicated team and valued partners for their support in helping us provide high-quality, affordable homes to residents and communities in need. Together, we are making a positive impact and look forward to continuing our mission of producing and preserving high-quality affordable housing in the years ahead. https://lnkd.in/eerWp5gx #standardcommunities #qualityhousing #strongcommunities #betterliving #betterlives #impact #housing #affordablehousing #partners

Yesterday, we celebrated the grand reopening of Baltic Plaza and New York Avenue Apartments in Atlantic City with project partners and local elected officials. The properties provide 320 seniors with an affordable, high-quality place to call home.  Baltic Plaza and New York Avenue Apartments underwent comprehensive renovations that upgraded and modernized nearly every aspect of the properties, dramatically enriching the resident experience. Congratulations to the Standard team! Scott Alter Jeffrey Jaeger Steven Kahn Benjamin Goldberg Tim Bourassa Brian Yang David Carrero Craig Marschke Nicholas Toscano Jennifer Aloisio Kory Leighty Daniel McCarron Sarah Siclait A special thanks to our project partners--Working together on Baltic Plaza and New York Avenue Apartments illustrates what can be accomplished when you work with partners who share a common goal of providing high-quality, affordable housing. U.S. Department of Housing and Urban Development New Jersey Housing and Mortgage Finance Agency PNC Citi City of Atlantic City Government CRM Residential DiMarco Group HDJ Architects / Engineers / Planners #standardcommunities #qualityhousing #strongcommunities #betterliving #betterlives #impact #housing #affordablehousing #partners

Scott Alter, Co-Founder and Principal at Standard Communities, was recently a panelist at Cornell University’s Center for Real Estate and Finance (CREF) Affordable Housing Symposium in New York City. Undergraduate and graduate students heard from Scott and other leaders in affordable housing who discussed contemporary challenges in affordable housing and shared real-world experience with tax credit financing, how to best promote development in underserved neighborhoods and more. One student shared: “The symposium was an enlightening and thoroughly engaging experience, leaving us inspired and equipped with actionable insights to tackle the challenges in the affordable housing sector.” Thank you, Scott, for sharing your knowledge and experience with the next generation of leaders in affordable housing! https://lnkd.in/g7yR7JsS #standardcommunities #qualityhousing #strongcommunities #betterliving #betterlives #impact #housing #affordablehousing