Washington, D.C.– Standard Communities’ work at Fort Chaplin Park Apartments, a 549-unit affordable housing property in Washington, D.C., was recognized with the 2019 Charles L. Edson Tax Credit Excellence Award in the Preservation Category by the Affordable Housing Tax Credit Coalition in a ceremony on Capitol Hill. This is the 25th annual edition of the Edson Awards, which recognize outstanding Low Income Housing Tax Credit developments across the nation at the forefront of creating strong, healthier communities.

The acquisition and rehabilitation of Fort Chaplin Park Apartments was led by Standard Communities, a firm committed to the creation, improvement, and preservation of affordable and workforce housing nationwide. Housing on Merit partnered with Standard at the property and provides an extensive suite of resident services and community programming to residents. Standard was able to expand the affordability of the property and ensure that it remains affordable for at least the next 30 years. Prior to Standard’s involvement at the site, approximately 30% of residents lacked affordable protections. Now100% of the site is committed affordable housing, including 72 households that have the added benefit of HUD rent subsidies.

In addition to expanding the affordability of the property, Standard completed a comprehensive renovation that upgraded unit interiors, modernized building systems, and added a 5,000 square foot LEED certified Community Center that offers extensive amenities and recreational space. The Community Center serves as a hub for a full suite of services and programming for residents of all ages, with a focus on academic excellence, health and wellness, employment and financial stability, and growth and empowerment. Residents were engaged to advise on the scope of the renovation and types of the community programming provided at the site, as well as the design of the new 5,000 square foot Community Center. Importantly, the renovation was completed without displacing residents from the property.

“The expansion of affordability and extensive renovation at Fort Chaplin Park Apartments was done with the goal of providing the residents and community high-quality affordable housing with desirable features, amenities, and services in a very high opportunity neighborhood,” said Scott Alter, co-founder and Principal of Standard Communities. “We are thrilled to be recognized by the Affordable Housing Tax Credit Coalition. Opportunities to revitalize a property of this scale, which makes it a vibrant community in-and-of itself, are unique,” said Mr. Alter.

“The Edson Awards honor developments that harness the Housing Credit to strengthen America’s communities and provide homes that transform the lives of low‐income families, veterans, seniors and people with special needs,” said Emily Cadik, Executive Director of the Affordable Housing Tax Credit Coalition. “The winners honored today exemplify why the Housing Credit is smart policy, and why Congress should expand and strengthen this proven tool.”

“It is important to recognize their commitment and achievements at a time when the need for affordable housing is reaching crisis levels,” added AHTCC President Michael Gaber.

Founded in 2008, Los Angeles-based Standard Communities is the affordable housing division of Standard Companies, a full-service investment and asset management firm. Standard Communities works to create, preserve, and improve affordable and workforce housing nationwide. Standard Companies has a portfolio of over 12,000 apartment units, of which more than 8,600 are affordable, and has completed more than $1.7 billion of affordable housing acquisitions and rehabilitations.

Last month, Standard Communities, in partnership with The State of Hawaii and Honolulu-based Stanford Carr Development, closed on the first phase of an innovative $223.9 million public-private partnership that will reposition 1,221 units of affordable housing across six properties located on the islands of Oahu, Hawaii, and Maui. The new structure preserves all the units as affordable housing for the long-term, provides project-based rental assistance to residents, and enables the use of $85 million of private capital to complete a renovation across the six-property portfolio.

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