"Union South Bay Apartments demonstrates Standard’s creative and nimble approach to increasing middle-income housing in California. We look forward to further partnerships that ensure housing for middle-income and essential workers is created across the state,” added Chris Cruz Managing Director of Essential Housing.

"Standard has a successful track record working with local communities and state agencies to expand middle-income housing opportunities for essential community employees. As a result, first responders, hospital and healthcare staff, teachers, and other essential workers are able to afford housing in neighborhoods near their jobs,” said Chris Cruz, Managing Director of Essential Housing, at Standard Communities.

“We were excited by the opportunity to invest a large amount of capital into the project, update the community, and preserve the affordability for the residents,” said Jeff Jaeger Co-Founder, and Principal of Standard Communities.

“In addition to saving the residents an average of $1,050 annually in electricity costs, the 1.368 million kWh of electricity generated each year by the new solar photovoltaic system will provide significant environmental benefits. This system will offset the equivalent of 968 metric tons of carbon, which is the equivalent of cars driven 2.4 million miles annually or consuming 109,000 gallons of gasoline,” said Jeff Jaeger, Co-Founder and Principal of Standard.

“By focusing on workforce and middle-income housing, cities can ensure that a diverse cross-section of residents – including many individuals who fulfill essential community roles, such as first responders, teachers, hospitality workers, and healthcare professionals – have access to affordable housing and stable neighborhoods near their jobs,” said Jeffrey Jaeger, Principal and Co-Founder of Standard Communities.

“There is a shortage of affordable senior apartments in the Los Angeles area, and we believe everyone, regardless of age or income level, deserves to have a place to call home. Standard is pleased to provide beautiful, safe homes for seniors in Pasadena,” said Robert Koerner, Chief Investment Officer of Standard Communities. 

“This transaction closed on schedule while California was in the middle of a statewide stay-at-home order. It is testament to what can be accomplished when a skilled closing department collaborates with a professional borrower group and our dedicated industry partners at HUD," Weissman added

Standard Companies partnered with The Giving Spirit to distributed over [...]

“We’re immensely excited about the opportunity that Parkside Villa Apartments and Rockwell Manor Apartments presents. The City of Fairfield, as with so much of the North Bay area, continues to enjoy a strong economy, making it incredibly important that the affordable housing stock is both preserved and modernized. The preservation of these properties as dedicated affordable housing, combined with the upcoming renovation, will prove transformative for the families that live here, in a region with significant unmet demand for affordable homes,” said Jeffrey Jaeger, Co-Founder of Standard Communitites.

“The shortage of affordable housing options throughout the Bay Area has been extensively documented and preservation efforts like what we accomplished at Villa de Guadalupe Apartments are a key part of any plan to ease the ongoing housing crisis,” said Jeffrey Jaeger, co-founder of Standard Communitites.