Standard Will Also Mentor College Students on Key Aspects of Affordable Housing Development, Investment, and Preservation
New York, NY—Standard Communities, a leading national affordable housing investor and developer, is partnering with Project Destined to launch a unique Affordable Housing Bootcamp for college students across the country. In addition, Standard and Project Destined will partner with Lehman College in The Bronx, New York, to create an innovative undergraduate commercial real estate course focusing on affordable housing development, investment, and preservation.
The Affordable Housing Bootcamp created by Standard will provide undergraduate Project Destined students across the country with a high-level overview of the nuances of affordable housing investment and prepare them for subsequent real estate investment and management classes, as well as a diverse mentorship program.
“Our innovative partnership with Standard Communities is the first time that Project Destined has partnered with an affordable housing developer,” said Cedric Bobo, Co-founder of Project Destined. “We believe it is crucial to provide learning and professional development opportunities to college students, and Project Destined couldn’t be happier to partner with Standard Communities to make the Affordable Housing Bootcamp and college course possible,” said Mr. Bobo.
As part of the mentorship program, New York City college students will dedicate up to 40 hours per semester to work within the commercial real estate industry. In addition to building a range of technical, financial, and leadership skills, students will participate in weekly team-based competitions involving presentations on multifamily transactions, providing students the opportunity to collaborate with real estate professionals on real-world scenarios. The program will culminate with each student team presenting an investment opportunity to industry leaders.
“Project Destined and Standard Communities share a commitment to social impact. When I met Cedric and his team, I knew right away that Standard needed to be part of their program. Our partnership with Project Destined and Lehman College underscores Standard’s long-term goals of increasing diversity and inclusion within our ranks and within the industry. We feel fortunate to have the opportunity to work with Project Destined to help educate and mentor what could possibly be the next generation of real estate industry leaders,” said Scott Alter, Co-Founder, and Principal of Standard Communities.
Standard Communities plans to expand its partnership with Project Destined in cities across the country including Los Angeles, Chicago, and Washington, D.C.
“Affordable housing, maybe more than any other segment of the real estate industry, needs more people with diverse backgrounds, experiences, and perspectives working together to help transform communities and drive positive social change. Partnering with Project Destined allows Standard to share our key values, experience, and expertise with a diverse group of students, laying a foundation for their future career success in commercial real estate and affordable housing,” said Joe Ouellette, Chief Strategy Officer of Standard Communities.
Project Destined is a leading social impact platform that provides financial literacy, entrepreneurship, and real estate training, partnering with corporations, schools, and non-profits. Project Destined leverages a work-based learning approach where students work with industry executives to evaluate live deals in their community and gain the skills, confidence, experiences, and networks that prepare them to secure a meaningful first job and become stakeholders in their communities.
Based in New York and Los Angeles, Standard Communities has a national portfolio of over 11,500 apartment units, including approximately 10,500 affordable and workforce housing units, and has completed more than $3 billion of affordable housing acquisitions and rehabilitation nationwide. Standard Communities strives to cultivate long-term public and private partnerships to produce and preserve high-quality, affordable, and environmentally sustainable housing.
