Los Angeles, CA– Standard Communities has led a public-private partnership that acquired The Link Apartment Homes, a 143-unit community in Glendale, utilizing California’s innovative public-private partnership structure designed to facilitate the creation of middle-income housing.

Standard served as Project Administrator and collaborated with CSCDA Community Improvement Authority, Stifel Nicolaus & Company, Faring, and the City of Glendale on this transaction. CSCDA Community Improvement Authority now owns the community. The total capitalization of this transaction is over $100 million.

Employing tax-exempt bond financing, CSCDA can acquire multifamily projects to provide much-needed housing for the middle-income and essential workers throughout California. CSCDA, upon taking ownership, works with Standard Communities as Project Administrator to immediately lower rents for new residents who qualify with incomes between 80% and 120% of the Area Median Income (AMI).

The Link Apartments, a luxury apartment community located at 3909 San Fernando Road in Glendale, is a mixed-use development with 143 one- and two-bedroom apartments. Built in 2020, the five-story community sits on 1.06 acres and features 13,520 square feet of ground-floor retail space.

Unit amenities include smart keyless entry, stainless steel appliance package, quartz countertops, in-unit washer/dryer, and patio/balcony. Building amenities include on-site retail, on-site leasing/management office, fitness center, pool, spa, courtyard with games, BBQ lounge, as well as a clubhouse with a game room and catering kitchen. On-site parking with 236 garage spaces is available to residents at no charge.

“Standard has a successful track record working with local communities and state agencies to expand middle-income housing opportunities for essential community employees,” said Chris Cruz, Managing Director of Essential Housing, at Standard Communities. “As a result, first responders, hospital and healthcare staff, teachers, and other essential workers are able to afford housing in neighborhoods near their jobs,” added Mr. Cruz.

“California is in the midsts of a severe housing shortage and Standard’s public-private partnerships fill a crucial need for middle-income families,” said Jeffrey Jaeger, Co-founder and Principal of Standard Communities. “Standard is pleased to partner with the CSCDA and the city of Glendale to make luxury livng more affordable,” added Mr. Jaeger.

“Housing costs are overtaking income, and although low-income families are the most vulnerable, middle-income families also feel the impact,” said Jason Illoulain, CEO of Faring. “We are excited to join Standard to increase housing opportunities for middle-income families in Glendale,” added Mr. Illoulain.

Standard has a portfolio of approximately 4,000 units throughout California. Recently, Standard led two public-private partnerships that created over 500 units of middle-income housing in two communities in downtown Carson, CA.

Based in New York and Los Angeles, Standard Companies has a national portfolio of over 15,000 apartment units, including approximately 11,500 affordable and workforce housing units, and has completed more than $3 billion of affordable housing acquisitions and rehabilitations nationwide. The affordable housing division of Standard Companies is Standard Communities, which strives to cultivate long-term public and private partnerships to produce and preserve high-quality, affordable, and environmentally sustainable housing.

Based in West Hollywood, California, Faring manages projects spanning multifamily, office, retail, hotel, medical office, and self storage properties. Faring is fully integrated and highly diversified with deep experience in development, acquisitions, construction management and finance.


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