Jerome Nichols

“The firm’s focus on development and what it’s accomplishing in diverse communities aligns well with what I am good at, where I have relationships, and where I want to focus my time and energy,” Nichols said. “We look at this next year as being acquisitive from a development-site perspective, looking for the right opportunities.”

This past year, in a joint venture with Trammell Crow Company and NHT Communities, his firm acquired a development site in D.C.’s Ward 8, with plans to construct a $290 million, 240,000-square-foot, mixed-use office and residential development at the Congress Heights Metro station at 13th Street Southeast and Alabama Avenue Southeast in Washington, D.C.

“The Congress Heights neighborhood has transformed so much, and we are excited to be a part of it,” Nichols said. “We started demolition of the existing site in June and we’re currently looking to get an office lease now.”

Standard, which is invested in assets valued at more than $7 billion, is also involved in a $650 million transit-oriented project that will bring 1,500 residential units, including approximately 300 affordable housing units, and 120,000 square feet of retail to D.C.’s Northeast Heights district.

“Another great location with a lot of activity already happening in the neighborhood, this has all the makings of a great town,” Nichols said. “We are in pre-development and planning now, and it’s up to us to create another important aspect of the community.” 

In 2023, Standard also launched a new investment venture with funds managed by GCM Grosvenor, with plans to invest $150 million in industrial developments across the U.S. 

This is one more way for Nichols to create a winning team.