Standard Communities Leads Public-Private Acquisition of West Hollywood Apartments
Standard Communities has led a public-private partnership that acquired The Crescent at West Hollywood Apartments, a 130-unit community in Los Angeles, utilizing California’s innovative public-private partnership structure designed to facilitate the creation of middle-income housing.
Standard collaborated with Faring, CSCDA Community Improvement Authority and the City of West Hollywood on the acquisition.
With a total capitalization of approximately $100 million, the Crescent at West Hollywood Apartments is the sixth middle-income housing transaction by Standard-Faring Essential Housing. These transactions have collectively created over 1,300 middle-income units.
“With approximately $6 million in planned capital expenditures for renovations, this property is well positioned to address the city’s ‘missing middle’ housing needs for decades to come,” said Chris Cruz, Standard Communities managing director of essential housing.
Built in 1985 and located at 1274 N Crescent Heights Blvd., the five-story community sits on 1.7 acres and features extensive amenities.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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