Multifamily Dive reports Standard Communities is building two Antioch, California apartment projects for under $500,000 per unit, well below the roughly $660,000 per unit average for 4% Low Income Housing Tax Credit projects in the state from 2020 to 2023. Joyfield Flats at Lakeview Center will have 233 apartments and Joyfield Flats at Buchanan Crossing will have 195 units, with standardized design modeled on hotel chain consistency.
Why it matters to multifamily marketers
A new Joyfield Living brand aimed at teachers, nurses, police officers and line cooks shows how operators are positioning below luxury, which is a demand pool worth watching when planning target renter messaging and amenity claims.