Standard Communities has recently entered the Michigan market through a partnership with River Caddis Development. Together, they are working on a public-private project to build an affordable community in Kalamazoo.
The joint venture includes collaboration with the Michigan State Housing Development Authority, Kalamazoo County, and the City of Kalamazoo. WNC & Associates is also involved as an equity partner for this $56 million development called River’s Edge.
According to Jeffrey Jaeger, Co-Founder and Principal of Standard Communities, this project would not be possible without the support from their partners in both the public and private sectors. He also expressed excitement about expanding their presence in Michigan.
River’s Edge will be located at 508 Harrison Street and 660 Gull Road on two parcels totaling 7.4 acres near downtown Kalamazoo. With over 20,600 apartment units under management worth $4.4 billion in assets overall, Standard Communities is well-equipped for this new venture into Michigan alongside River Caddis Group’s mission-driven affordable housing division known as River Caddis Communities based out of Lansing.
