The California Statewide Communities Development Authority (CSCDA) has acquired The Link apartments in Glendale. The acquisition was a public-private collaboration among Standard Communities, CSCDA’s Community Improvement Authority, Stifel Nicolaus & Company, Faring and the city of Glendale.
The five-story, 143-unit, one- and two-bedroom community, which was constructed in 2020, also includes 13,520 square feet of retail space. The community was developed as a conventional multifamily property, but the partnership will convert The Link Apartments to workforce housing.
Standard Communities, a subsidiary of Standard Companies, organized the partnership. The Los Angeles-based multifamily and affordable housing owner uses tax-exempt bond financing to acquire multifamily projects to provide housing for middle-income and essential workers throughout California who qualify with incomes between 80 and 120 percent of AMI.
