Acquisition Redevelopment
Standard’s Acquisitions & Redevelopment team is focused on preserving at-risk Project Based Section 8 communities and other strategic non-Section 8 communities around the country by leveraging the 4% Low Income Housing Tax Credit. Many existing affordable housing communities we encounter in the market need substantial physical upgrades. Our nationwide team of industry leaders in finance, construction, and asset management provides a comprehensive repository of best practices that make us uniquely positioned to buy out existing owners who lack the resources and experience to recapitalize their aging affordable communities while delivering transformative redevelopments in a manner and timeframe that maximizes the value of the communities while minimizing the public burden.
FEATURED PROPERTY
Maple Pointe
Maple Pointe is a 343-unit property located in Chicago, IL. At closing, Standard entered into a tax credit execution with Illinois Housing (IHDA). The acquisition was financed with a loan by Citibank – via a conduit structure with IHDA – and tax credit equity following a syndication by an Alliant/Citi JV. The tax-exempt bond financing arranged for this acquisition was the largest for a single project in Illinois history. The community went through a renovation in 2019.
Our People
Our growing staff is spread out across seven regional offices. We believe that people and relationships drive our success.
