What Standard Communities does

Standard Communities is an investor and developer of affordable and workforce housing operating as the affordable housing division of Standard Companies, with co-founders Jeffrey Jaeger and Scott Alter serving as principals. The firm acquires, rehabilitates, develops, and operates residential communities serving households across the income spectrum, including low-income families earning 30-80% of Area Median Income via LIHTC and Project-Based Section 8, middle-income essential workers earning 80-120% of AMI through the Standard-Faring Essential Housing joint venture, and seniors through dedicated 55+ properties. As of 2025, the company reports $6B+ in assets under management, 28,000+ units across 195+ communities in 22+ states and Washington, D.C., serving more than 75,000 residents.

The core operating model is a public-private partnership platform that structures transactions using Low-Income Housing Tax Credits, tax-exempt bond financing, and Project-Based Section 8 HAP contracts with HUD, alongside state housing finance agency partners (TCAC, CDLAC, NJHMFA, SC Housing, MassHousing, DCHFA) and LIHTC syndicators such as PNC Bank, Citibank, and Alliant Capital. Revenue is generated through property rental income on owned units, development and construction fees, asset management fees on behalf of investor partners, and capital markets fees tied to structuring tax credit syndications. Underlying technology deployment centers on sustainability rather than software: 750-kW community solar installations (Foothill Villas, San Bernardino), an ION Water Volumetric Water Benefits partnership across 402 income-restricted units in Northern Virginia, LEED-certified community centers, and participation in the DOE Better Buildings and Better Climate Challenges targeting a 20% energy use reduction.

The product portfolio is organized into three integrated business lines: Acquisitions & Redevelopment (legacy core, including the Fort Chaplin Park preservation, the largest tax-exempt bond/LIHTC transaction in D.C. history, and the $1 billion multi-state acquisition completed in November 2024), Essential Housing (middle-income workforce housing through the Standard-Faring JV created in August 2021 with a $2 billion California pipeline), and New Construction (a 2021-launched ground-up development division with over $400M and 1,300 units in pipeline). Customer segmentation is B2B/B2G: direct counterparties include federal and state government agencies, institutional investors and LIHTC syndicators, and nonprofit co-developers (e.g., Housing on Merit); ultimate beneficiaries are the 75,000+ residents living in affordable, senior, and workforce housing units, with 11,400+ Section 8 units, 18,100+ LIHTC units, 9,100+ senior units, and 2,000+ workforce units across the portfolio.

Name

Standard Communities

Legal name

Standard Communities

Website

https://standard-communities.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

Standard Communities is a U.S. affordable and workforce housing investor and developer that acquires, rehabilitates, and develops mixed-income residential communities across 22+ states, serving low-income households, middle-income essential workers, and seniors through LIHTC and public-private partnership structures.

Ownership category

akta.pro rank

Product category

Affordable and Workforce Housing Development

NAICS

Other Community Housing Services (624229), Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly (62331), Facilities Support Services (561210)

SIC

Services-To Dwellings & Other Buildings (7340), Land Subdividers & Developers (No Cemeteries) (6552), Services-Facilities Support Management Services (8744)

akta.pro primary industry

Affordable & Subsidized Housing Property Management (LIHTC, Section 8) (BPAJAFAD)

akta.pro secondary industries

Public & Affordable Housing Programs (Subsidies, Vouchers, Public Housing) (BPAIANAA), Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC), Affordable/Subsidized Independent Living (HUD/LIHTC) Communities (HLADAAAB)

Keywords

• Affordable housing development
• Workforce housing investment
• Multifamily property acquisition
• LIHTC syndication
• Public-private partnerships

Headquarters

HQ city

Charleston

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales, Others, Technology or R&D

Revenue model

1. Property Acquisition and Development: Standard Communities acquires, rehabilitates, and develops affordable and workforce housing properties. Revenue is generated through the appreciation and eventual sale or长期 holding of these properties, as well as development fees from construction projects.
2. Low-Income Housing Tax Credit (LIHTC) Syndication: The company structures transactions using LIHTC financing, where investor partners (such as PNC Bank, Alliant Capital, Citibank) provide equity in exchange for tax credits. This generates syndication fees and enables larger acquisitions.
3. Rental Income from Section 8 and Affordable Units: Properties generate recurring rental income through Project-Based Section 8 HAP contracts with HUD, providing stable long-term revenue streams backed by federal housing assistance payments.
4. Asset Management Fees: The company earns asset management fees from managing portfolios on behalf of investor partners and funds, including the Standard-Faring Essential Housing Fund.
5. Volumetric Water Benefits (VWB) Revenue: Partnership arrangements where housing properties receive water management technology at no upfront cost while generating annual savings (approximately $120,000 in Northern Virginia) that can be monetized through VWB partnerships with corporate entities.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Standard Communities is a national affordable and workforce housing investor and developer that acquires, preserves, rehabilitates, and ground-up develops multifamily rental housing across the United States. The firm operates three integrated service lines — Acquisitions & Redevelopment of existing affordable housing, Essential Housing for middle-income essential workers (80–120% of Area Median Income) via the Standard-Faring Essential Housing joint venture, and New Construction — financed primarily through Low-Income Housing Tax Credits (LIHTC), tax-exempt bonds, and Project-Based Section 8 Housing Assistance Payment contracts with HUD.

Product overview

Standard Communities is an affordable and workforce housing investor and developer operating a unified platform for creating, acquiring, preserving, and rehabilitating residential communities. The company functions through several integrated product lines: Acquisitions & Redevelopment (core business), Essential Housing (middle-income workforce housing via the Standard-Faring Essential Housing joint venture), and New Construction (ground-up development). The company manages a portfolio of 28,000+ units across 195+ communities in 22+ states, comprising Section 8, LIHTC, and workforce housing units, supported by public-private partnerships with government agencies and the Standard Plus Foundation for community impact initiatives.

Differentiator

Problem solved

Functional benefit

Products and services

• Acquisitions & Redevelopment Acquisition, preservation, and rehabilitation of existing income-restricted multifamily rental properties through public-private partnerships with HUD, state housing finance agencies, and LIHTC syndicators; includes energy-efficiency and sustainability retrofits (solar PV, HVAC, LED, water conservation) for residents of LIHTC and Section 8 communities.
• Essential Housing (Middle-Income / Workforce Housing) Middle-income / workforce housing for essential workers (teachers, firefighters, healthcare staff) earning 80–120% of Area Median Income, developed and acquired through the Standard-Faring Essential Housing joint venture using CSCDA tax-exempt bond financing to immediately lower qualifying rents.
• New Construction (Ground-Up Affordable Development) Ground-up development of new affordable and mixed-income multifamily communities, including new Senior housing and 100% affordable developments, typically financed with LIHTC, tax-exempt bonds, and state HFA support.

Quantifiable outcome

• Over 75,000 residents housed across 28,000+ units in 22+ states
• +4 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core, minor and flagship.

• River Caddis DevelopmentcoreStrategic or Co-development Partner · 25 September 2024Standard Communities partnered with River Caddis Development for its first investment in Michigan, a ground-up affordable community in Kalamazoo. This partnership extends Standard's development capabilities into new markets.
• Project DestinedminorStrategic or Co-development Partner · 25 October 2021Standard Communities partnered with Project Destined to launch an Affordable Housing Bootcamp and commercial real estate course for college students, supporting diversity and inclusion within the industry and mentoring the next generation of real estate leaders.
• FaringflagshipStrategic or Co-development Partner · 10 August 2021Standard Communities and Faring formed a joint venture, Standard-Faring Essential Housing, to create over $2 billion of missing-middle housing throughout California over 18-24 months. The partnership engages in both ground-up development and acquisition/conversion of existing market-rate properties utilizing California's innovative public-private partnership structure with CSCDA. The JV has already created 650+ middle-income units with capitalization exceeding $400 million.
• U.S. Department of Housing and Urban Development (HUD)coreOthersPublic-private partnerships with HUD for Section 8 HAP contract extensions and preservation of affordable housing. Standard works with HUD on transactions including New York Avenue Apartments in Atlantic City and Foothill Villas in San Bernardino.
• California Tax Credit Allocation Committee (TCAC)coreOthersState agency providing Low-Income Housing Tax Credit allocations critical to Standard's California acquisitions and preservation of affordability covenants for 55+ years.
• California Debt Limit Allocation Committee (CDLAC)coreOthersState agency providing tax-exempt bond financing allocations used in Standard's California public-private partnership transactions for middle-income and affordable housing.
• CSCDA Community Improvement AuthoritycoreOthersStandard utilizes CSCDA's innovative public-private partnership structure for acquiring multifamily properties and immediately lowering rents for qualifying middle-income residents (80-120% AMI) through tax-exempt bond financing.
• Housing on MeritcoreStrategic or Co-development PartnerNonprofit co-developer partner in multiple California and D.C. transactions including Foothill Villas and Fort Chaplin Park. Housing on Merit focuses on vulnerable populations including women veterans and provides resident services.
• D.C. Housing Finance Authority (DCHFA)coreOthersD.C. state housing finance agency partner in TOPA transactions including Ritch Homes acquisition, providing financing and regulatory support for affordable housing preservation.
• New Jersey Housing and Mortgage Finance Agency (NJHMFA)coreOthersState housing finance agency partner in Atlantic City transactions, providing financing and affordability covenant extension for senior affordable housing.
• Massachusetts Housing Finance Agency (MassHousing)coreOthersState housing finance agency partner in Massachusetts acquisitions including Mills Falls and Westwood Glen Commons, providing financing and DHCD coordination.

Scale indicators18 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• BRIDGE Housing: Mission-driven affordable and mixed-income housing developer and owner primarily on the West Coast, with a comparable focus on LIHTC-financed preservation and new construction in California.
• The Related Companies (Related Affordable): One of the largest U.S. developers of affordable and mixed-income housing, with a national portfolio built on LIHTC, tax-exempt bonds, and large-scale public-private partnerships — directly comparable to Standard's model and scale.
• The NRP Group: Vertically integrated multifamily developer with significant affordable and workforce housing exposure, frequently executing large LIHTC and tax-exempt bond transactions similar in structure to Standard's portfolio deals.
• WinnCompanies: Major national owner, developer, and manager of affordable, workforce, and market-rate multifamily housing, with deep LIHTC expertise and a multi-state footprint closely mirroring Standard's operating model.
• Mercy Housing: One of the largest U.S. nonprofit affordable housing developers and owners, with a national portfolio of LIHTC and Section 8-financed properties serving a similarly broad income spectrum.
• Jonathan Rose Companies: National mission-driven real estate developer, investor, and operator focused on affordable, mixed-income, and transit-oriented housing, with comparable LIHTC-driven acquisition and development activity.
• L+M Development Partners: Vertically integrated affordable and mixed-income housing developer with strong LIHTC, Section 8, and ground-up development capabilities in high-cost coastal markets — directly comparable to Standard's California and D.C. activities.
• The Michaels Organization: National developer, investor, and manager of affordable, student, and military housing, with comparable reliance on LIHTC, tax-exempt bonds, and HUD-financed affordable preservation transactions.

Others

• Boston Capital: One of the largest U.S. LIHTC syndicators and affordable housing investors, providing both capital and acquisition partnerships to developers like Standard (and competitors) in the same LIHTC and tax-exempt bond ecosystem.

Emerging players

• Enterprise Community Partners: National nonprofit with a major real estate development arm and significant LIHTC deployment capabilities, overlapping with Standard's affordable and workforce housing strategy through both investment and direct development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/standard-communities

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Standard Communities