Standard Communities launches three new lines of business: NYREJ

scott alter

jeffrey jaeger

Washington D.C. Standard Communities has established three new and diversified business lines to build on its success in providing sustainable homes.

The three dedicated lines of business (acquisition/redevelopment, new construction and essential housing) will leverage and align the strengths and diversity of Standard’s workforce and enable them to execute faster and more efficiently.

“With our national geographic reach and ambitious vision for the future, it is important that our structure allows us to remain agile and responsive to opportunities. Each team has a narrow focus and a wealth of experience. We believe that high-quality affordable housing is a path to prosperity and that our investment approach will allow us to broaden our reach and leverage our existing infrastructure to have a greater impact on those who need it most,” said Scott Alter, Co-Founder and Principal. from Standard Communities, who described the leadership and mission of the new business lines:

Acquisition/Redevelopment: Led by Chief Investment Officer Robert Koerner, this division focuses on the acquisition and redevelopment of Section 8 communities based on projects at risk and other strategic Low Income Housing Tax Credit (LIHTC) redevelopment opportunities that involve communities of Section 8 that are not project-based.

New construction: Headed by development director Feras Qumseya, this segment will engage in the existing development pipeline and focus on building a 4% LIHTC national newbuild platform.

Essential Housing: Led by Essential Housing Managing Director Chris Cruz, this unit focuses on innovative ways to create and preserve workforce and affordable housing communities without using the new LIHTC syndication.

“This strategy is a continuation of many core elements that have made Standard what it is today, including our commitment to quality, speed, and flexibility. We believe the refinement of our structure builds on the entrepreneurial spirit that has fueled our success, while fostering accelerated growth and ensuring we remain a Great Place to Work Certified company,” said Jeffrey Jaeger, Co-Founder and Director of Standard. Communities.

This year, Standard Communities increased its staff by more than 20% and acquired eight new communities, adding nearly 1,200 units. By the end of the year, Standard expects to acquire more than 40 new communities, adding more than 5,600 units, bringing its portfolio to nearly 20,000 units nationwide.

Headquartered in New York and Los Angeles, Standard has a national portfolio of more than 14,600 apartment units and has completed more than $3.8 billion in affordable housing acquisitions and rehabilitations across the country. Standard Communities strives to cultivate long-term public-private partnerships to produce and preserve high-quality, affordable, and environmentally sustainable housing.

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