“Preserving affordable housing in areas like Midtown Manhattan is critical; we’re proud of the innovative structure used to keep these units as high-quality affordable housing for the families that call them home,” said Standard Communities Co-Founder Scott Alter.

“It’s considerably cheaper to preserve an existing building that is affordable than it is to build something new. Our focus is working with the available tools to help preserve assets and provide a return on capital to do so," said Standard Communities Co-Founder Jeffrey Jaeger

“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

“As we look toward the future of Park Shirlington, we are thrilled to have the opportunity to reinvigorate the complex and bring it into its next phase of development,”said Standard Communities Co-Founder Jeff Jaeger.

GlobeSt News: Tax Reform’s Unintended Effect On Affordable Housing

CoStar News: Standard Buys Polyclinic Apts for $110.3M in Affordable [...]

“Providing the tools that leverage private capital to preserve affordable housing represents the kind of effective public-private partnership that Secretary Carson and this administration have championed,” said Lynne Patton, HUD Regional Administrator for New York and New Jersey.

“We are excited to continue our work in Providence, and this acquisition and the upcoming renovation of Colony House will enable the property to continue providing a strong community for low-income seniors for the foreseeable future,” said Standard Communities Co-Founder Scott Alter.

“The Asheville market has seen tremendous growth in this market cycle, creating a vibrant, though oftentimes expensive, metropolitan area. We are excited to provide low-income residents, most of whom are seniors at Arrowhead, an opportunity to continue living in such a strong community without worry of increased housing costs,” said Standard Communities Co-Founder Scott Alter.

“Housing costs in the greater Washington D.C. area have continued to climb in recent years, and we are excited to be in a position to continue providing a high-quality housing option that is affordable for low-income families,” said Standard Communities Chief Strategy Officer Joseph Ouellette.