“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.

“Standard Communities is committed to the creation, preservation, and improvement of affordable housing, and Lakeside Village is a very large success story by those measures. To be able to provide Lakeside’s more than 1,400 residents with a home that they can be proud of in a supportive community – and that will be affordable to the average working-class family for the next 50 years – in one of the most expensive housing markets in the United States is a victory not just for Standard, but for the residents of Lakeside and the entire Bay-area workforce,” said Standard Communities Co-Founder Jeffrey Jaeger

“We are excited to have created affordable housing for seniors in the L.A. market, since many residents have struggled to afford a quality home as costs have climbed in recent years,” said Jeff Jaeger, Co-Founder of Standard Communities.

“We are thrilled to not only preserve Villa de Guadalupe as affordable housing for the foreseeable future, but to also renovate the property to ensure that it remains a high-quality community,”said Standard Communities Co-Founder Scott Alter.