Standard Is the First National Affordable Housing Developer To Receive B Corp Certification

New York, NY, May 17, 2023—Standard Communities, a major national affordable housing developer and investor, has been certified as a B Corporation following a rigorous review of the impact of its business model and operations on staff, stakeholders, communities and the environment, consistent with a vision of an inclusive, equitable and regenerative economy benefiting all people, communities and the planet.

B Corp Certification designates that a business meets verified high standards of performance, accountability and transparency. The B Corp verification process is administered by B Lab, a non-profit international network of organizations.

“High-quality, well-maintained affordable housing is crucial to the well-being and livelihood of so many people. Becoming a Certified B Corporation reflects our commitment to upholding a purpose-driven business and supporting a movement that benefits all through sustainability, transparency and responsible business practices. We will continue to uplift and empower positive change in the affordable housing industry for our residents, our communities and the environment. We are honored to receive this certification and become part of the B Corp community,” said Scott Alter, Co-Founder and Principal at Standard Communities.

Throughout its inestments in affordable communities Standard Communities gives the highest priority to environmental sustainability and the safety and comfort of its residents.

Standard Communities has received recognition for its substantial achievements in increasing access to affordable housing across the US and in environmentally responsible investments, leading innovative and successful public private partnerships. These include:

  • The Business Achievement Award for Industry Leadership in Affordable Green Housing won by the affordable housing community Fort Chaplin Park Apartments which has the largest community rooftop solar array in Washington D.C.
  • The Novogradac Tax Credit Developments of Distinction Award for Standard’s efforts preserving and expanding affordable housing at its Illinois Section 8 Portfolio, an 855-unit portfolio of six properties in the Chicago area.
  • The largest tax-exempt bond and LIHTC financed affordable housing transactions in the respective histories of Illinois, California, and Washington, D.C.
  • Recognition as a Great Place to Work, which acknowledges companies that create outstanding experiences for their employees.

“Behind our business, there’s a passionate team helping us to achieve our mission of enhancing the quality of life for the residents and communities we serve. We aim to enable every Standard employee to be a force for good and are committed to fostering a supportive and inclusive environment for our current and future team members,” said Joseph Ouellette, Chief Operating Officer at Standard Communities.

Headquartered in New York and Los Angeles, Standard Communities has a national portfolio of nearly 19,000 apartment units and has completed more than $4 billion of affordable and workforce housing development, acquisitions and rehabilitation nationwide. As a Certified B Corporation, Standard Communities strives to cultivate long-term public/private partnerships to produce and preserve high-quality, affordable and environmentally sustainable housing.