Los Angeles, CA — Standard Communities, the affordable housing division of national developer Standard Property Company, in partnership with Housing on Merit, is pleased to announce the acquisition and upcoming renovation of Villa de Guadalupe Apartments in San Jose, California. This acquisition allowed the property to be preserved as affordable housing for low-income seniors. “Housing costs in the Bay Area reflect the strength and continued growth of the local economy, which unfortunately has placed high-quality housing out of reach for many residents,” said Standard Property Company Co-Founder Scott Alter. “We are thrilled to not only preserve Villa de Guadalupe as affordable housing for the foreseeable future, but to also renovate the property to ensure that it remains a high-quality community.”
The 101-unit property will receive an extensive renovation that will overhaul the interior of each apartment, as well as enhance the common areas and on-site community space. In addition to upgrading the physical condition of the property, the renovation will further support Housing on Merit’s efforts to improve residents’ quality of life.
“Housing on Merit is excited to partner with Standard at Villa de Guadalupe, where we will work to provide services that ensure residents are able to live independently for longer, remaining a part of what is a strong and supportive community for seniors in the Bay Area,” said Jennifer Litwak, executive director of Housing on Merit.
