National – Standard Communities, one of the nation’s leading affordable and workforce housing providers, expects its first billion-dollar year in 2021. The total capitalization of the communities Standard acquired in the first half of 2021 exceeded the total capitalization of all the properties it acquired in 2020 and 2019 combined.

“Our growth is a direct reflection of the caliber of our team, the culture we continue to build at Standard, and the need for the work we are doing across the country,” said Jeff Jaeger, Co-founder, and Principal of Standard Communities. “We are achieving growth exceeding 100 percent. In the first half of 2021, Standard acquired ten communities, across seven states, providing high-quality housing to more than 5,000 new residents,” he said.

“The U.S. is suffering a severe shortage of housing. The 2020 Census confirmed as much, showing that the number of housing units grew at half the rate of the previous decade. Couple that with the rising income inequality in this country, and you’re left with an accelerating affordable housing crisis,” said Scott Alter, Co-founder, and Principal of Standard Communities.

“We believe everyone, regardless of income level, deserves to have a decent and safe place to call home. The impact of the pandemic and rising housing costs has made the need for our work more important than ever,” said Alter.

“The lowest-income renters have suffered the brunt of economic fallout from the pandemic,” said Mr. Jaeger.

“More than twenty million renters–almost half of all renters in the U.S.–paid more than 30 percent of their income for housing, according to data from Harvard University. This includes 10.5 million households that are severely financially burdened, paying more than half of their income for rent. Our growth is driven by our experience and expertise in creating solutions to the national affordable housing crisis that these renters face,” said. Mr. Jaeger.

Based in New York and Los Angeles, Standard Communities provides high-quality housing to over 24,000 people, across more than 65 communities and 11,500 units, spanning 17 states. Standard has completed more than $3 billion of affordable housing acquisitions and rehabilitations nationwide and strives to cultivate long-term public and private partnerships to produce and preserve high-quality, affordable, and environmentally sustainable housing.

Additional Coverage