BOSTON–Standard Communities, the affordable housing division of Standard Companies, announced that Sean Carpenter has joined the company as the Director of Northeast Development, a new position.
Based in Boston, Mr. Carpenter will primarily focus on New England and will be an essential resource nationwide on new construction deals.
He joins Standard from AHSC, Inc. in Braintree, MA, a non-profit developer of affordable housing, where he served as a Senior Development Manager.
“Sean Carpenter has extensive experience as an affordable housing developer, consultant, and tax credit syndicator, with experience working for the Massachusetts state housing finance agency. As Standard continues to expand with ambitious growth targets, Sean provides us with new capabilities to pursue ground-up development opportunities, as well as the benefit of having valuable relationships with major commercial real estate players throughout the Northeast and nationwide,” said Scott Alter, Principal and Co-Founder of Standard Communities.
“Sean’s expertise is invaluable as we launch Standard’s “50 x 30” initiative, our ambitious long-term goal to grow the company’s national portfolio to 50,000 apartment units under ownership by 2030. He will also help us achieve industry-leading environmental sustainability objectives in our multifamily investments,” added Joe Ouellette, Chief Strategy Officer of Standard Communities.
Standard has completed three acquisitions in Massachusetts this year. In January, Standard acquired Mills Falls Apartments in Methuen, a 97-unit mixed-income property, and Westwood Glen Commons in Westwood, a 156-unit naturally occurring affordable senior community. Last month Standard acquired the L.P. interest in Norway Housing, a 136-unit family designated affordable housing property in Boston. All three acquisitions were led by Joon Lee, Director of Strategic Capital at Standard Communities who focuses on Preservation Funds. Standard’s portfolio includes over 1,300 apartment units in the Northeast.
An affordable housing professional for over 20 years with experience in development, entitlements, finance, and policy, Mr. Carpenter began his real estate career as an Acquisitions Officer for a national Low-Income Housing Tax Credit syndicator. He later served as an Asset Manager at Mass Housing, responsible for a portfolio of federally subsidized properties, and was a Project Manager with a national development company focusing on preserving expiring affordable housing. Additionally, Mr. Carpenter also managed a development consulting firm assisting developers on comprehensive permitting, applications, and financing of affordable housing communities nationally.
Mr. Carpenter earned a Bachelor of Arts Degree in Political Science at the University of Massachusetts at Dartmouth and a Certificate in Real Estate Finance from Boston University. Active in his community, Mr. Carpenter served on the University of Massachusetts Board of Trustees, Southeastern Massachusetts University Building Authority, and many businesses, organizations, and not-for-profit agencies in advisory, financial, organizational, and business management roles.
Based in New York and Los Angeles, Standard Companies has a portfolio of over 15,000 apartment units, including approximately 11,000 affordable units, and has completed more than $2.6 billion of affordable housing acquisitions and rehabilitations nationwide. The affordable housing division of Standard Companies is Standard Communities, which strives to cultivate long-term public and private partnerships to produce and preserve high-quality, affordable, and environmentally sustainable housing.