National multifamily developer Standard Communities has tapped a former JPMorgan Chase executive to lead a group focused on leveraging low-income housing tax credit financing to construct affordable housing projects.
Standard, a company with dual headquarters in New York and Los Angeles, hired Caitlin Gossens as a vice president and head of capital markets for its new construction team, the firm said in a release. She's based in Washington, D.C.
In her new role, Gossens will be tasked with leading capital-raising efforts, managing debt and investor relationships, and overseeing all aspects of the financing process from project inception through construction, lease-up and stabilized occupancy, Standard said.
The company is expanding its pipeline of developments financed by low-income housing tax credits, or LIHTC, that offer the American workforce "attainable rates that honor their service and respect their wallets," Feras Qumseya, chief development officer at Standard, said in the release.
Last fall, Standard completed its acquisition of an affordable housing portfolio valued at more than $1 billion and totaling more than 60 properties.
Gossens joined Standard from JPMorgan Chase's community development division, where she served as an executive director. She's also worked at the Department of Housing and Urban Development, Local Initiatives Support Corp. and accounting giant PwC.
Standard's portfolio contains more than 27,000 apartments. The firm has more than $5 billion in assets under management in 21 states and Washington, D.C.