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Deal Profile: Union South Bay
Led a public-private partnership that acquired Union
South Bay Apartments, a 357-unit community in Carson,
California.
Utilizing California's innovative public-private partnership
structure designed to facilitate the creation of middle-
income housing, Standard served as Project
Administrator and collaborated with CSCDA Community
Improvement Authority, Stifel Nicolaus & Company, and
the City of Carson to complete this transaction.
Employing tax-exempt bond financing, CSCDA can
acquire multifamily projects to provide much-needed
housing for middle-income and essential workers
throughout California.
CSCDA, upon taking ownership of the property, works
with Standard Communities as Project Administrator to
immediately lower rents for new residents who qualify
with incomes between 80% and 120% of the Area
Median Income (AMI) – making the units affordable to
middle-income families.
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