Standard Companies Bulks Up Affordable Housing Division
Standard Communities, the affordable housing division of Standard Companies, has added real estate veteran Jay Wilson as its new director of East Coast asset management, based in Washington, D.C.
“Standard’s consistency and openness was a big attraction,” Wilson told Commercial Observer. “Each time I spoke to someone before I made the decision to join the team, it was like speaking with a longtime friend.”
In his new role, Wilson will lead the asset management efforts for the East Coast from Standard’s rapidly growing D.C. office, with the immediate goal of increasing and improving the company’s partnerships throughout the D.C. region.
“Affordable housing is a priority but there is still much progress to be made,” Wilson said. “Affordable housing needs to be more geographically dispersed throughout each locality with the focus on diverse levels of income across the affordability spectrum.”
Wilson most recently worked for Enterprise Community Development, where he oversaw a $400 million portfolio of apartment communities in the mid-Atlantic. Prior to that, he worked for the Reznick Group, Coro Realty Advisors and CAPREIT, and managed a national portfolio of over 14,000 affordable and market-rate apartments throughout the country.
Standard also named Margaret Eck, as exclusive outside legal counsel to the company. A former general counsel at The Hampstead Companies, a national affordable housing syndicator, Eck has more than a decade of experience as an attorney representing multifamily owners.
“These key hires help us progress in our ‘50 x 30’ initiative—Standard’s ambitious long-term goal to grow the company’s portfolio to 50,000 apartment units under ownership by 2030,” Joe Ouellette, Standard Communities’ chief strategy officer, said in a statement.