Standard Communities and Faring Partner with Public Agencies to Expand Middle-Income Housing Opportunities Near Sunset Boulevard
Los Angeles, CA—March 15, 2022—Standard Communities, a leading national affordable housing investor and developer announced seven promotions and new hires, reflecting robust growth in its business.
“Our focus on creating and preserving affordable housing opportunities for families across the United States made 2021 our most impactful year ever. We entered 2022 with strong momentum from record growth that brought total capitalization of our portfolio to over $3.6 billion,” said Joe Ouellette, Chief Strategy Officer of Standard Communities. “That will be exceeded in the first half of this year, with over 5,500 units in the pipeline with a total capitalization of over $1 billion.”
Standard Communities promoted three executives:
Craig Marschke was promoted to Vice President of Construction Services. He previously served as Director. Based in the Washington, D.C. region, Mr. Marschke leads Standard Communities’ construction team in all aspects of renovation and capital improvement programs nationwide. He has more than 20 years of experience in the construction industry as a General Contractor and Owner/Developer. Prior to joining Standard Communities, Mr. Marschke served as a Senior Construction Manager for Home Properties’ Northeast Operations. He earned a Bachelor of Science degree in Construction Management from Arizona State University. Mr. Marschke joined Standard in 2015 and has completed over 65 construction projects with individual budgets ranging over $30 million.
Tim Bourassa was promoted to Senior Director, Acquisitions & Underwriting. Previously he was Director. Based in New York, Mr. Bourassa leads the Standard Communities underwriting and acquisitions team, focused on directing and reviewing the underwriting, due diligence, and closing transactions. Prior to joining Standard Communities, Mr. Bourassa served on the Equity Capital Markets team at HSBC Securities. He earned a Bachelor of Arts degree from Bowdoin College and a Master of Business Administration degree with a concentration in Real Estate from The Wharton School at the University of Pennsylvania. Since joining Standard in 2016, Mr. Bourassa has been involved in the acquisition and underwriting of over 55 deals with a total capitalization of over $2.5 billion.
Patrick Lyons was promoted to Director of Construction Services. He previously served as Construction Manager. Based in Orange County, California, Mr. Lyons oversees the West Coast and Midwest construction teams, including all construction-related aspects of Standard Communities’ renovations, development, and acquisitions in those regions. He has over ten years of experience in the construction industry, on both the General Contractor and Owner/Developer sides. Prior to joining Standard Communities, Mr. Lyons worked as a Project Manager for U.W. Marx Construction. He earned both his Bachelor’s and Master of Science degrees in Civil Engineering with a concentration in Structural from the University of Rhode Island.
Standard Communities hired four new executives:
Jessica O’Connor joined the company as Human Resources Business Partner in Washington, D.C. She is responsible for talent acquisition and development, performance management, coaching and mentoring, and change management. Ms. O’Connor has fifteen years of experience in Human Resources in various industries, including construction/property management, technology, healthcare, and non-profit sectors. She holds a Bachelor of Science Degree from Miami University in Oxford, Ohio, and is certified as a Professional in Human Resources.
Aaron Thomas joined Standard Communities as Chief of Staff, based in Los Angeles. Mr. Thomas previously served as President and Chief Executive Officer of Accelerator for America; a national nonprofit co-founded by Los Angeles Mayor Eric Garcetti in 2017. Guided by a network of mayors, labor leaders, corporate CEOs, and non-profit executives from across the country, the Accelerator develops solutions to economic insecurity for more than 70 cities nationwide. Previously, Mr. Thomas worked in investment banking, trading equity derivatives, and facilitating middle-market equity transactions. He is a graduate of Harvard University and received an MBA from Stanford’s Graduate School of Business.
Kate Bowers joined Standard Communities as Senior Director of Corporate Communications in Washington, D.C. Prior to joining Standard Communities, she spent over ten years with award-winning PR agency Weinberg Harris & Associates, most recently serving as Vice President, Public Relations and Client Services. Ms. Bowers has extensive experience developing successful corporate communications and brand management strategies for numerous national multifamily real estate companies. She received a Bachelor of Science in English and a Bachelor of Science in Mass Communication – Strategic Public Relations and Integrated Communication, both from Towson University.
Russ Peterson joined Standard Communities as Senior Director of Asset Management, working out of the Charleston office. With more than 33 years of multifamily property management work, he brings deep experience in managing conventional, LIHTC, value add, lease-ups, pre-development, mixed use, HUD, and office assets. Prior to joining Standard Communities, Mr. Peterson was the owner and Principal Broker of RPC, LLC, a business consulting firm specializing in multifamily assets.
Based in New York and Los Angeles, Standard Communities has a national portfolio of approximately 13,700 apartment units and has completed more than $3.6 billion of affordable housing acquisitions and rehabilitations nationwide. Standard Communities strives to cultivate long-term public and private partnerships to produce and preserve high-quality, affordable and environmentally sustainable housing.
National Mortgage News: Standard Communities hires four new executives, promotes three