organization

Standard-Faring Essential Housing

2021-presentDocumented housing platform

Joint venture of Standard Communities and Faring created to develop and convert middle-income housing in California through public-private structures. The partners announced a target of more than $2 billion of 'missing-middle' housing and documented repeated transactions using tax-exempt bond financing, public-agency ownership/participation structures, project administrators, and participating host cities.

Middle-income housing joint ventureOfficial joint-venture, public-agency, transaction, and financing documentation

Record Details

Target Income Band

approximately 80%-120% AMI as described by Standard Communities

Financing Structure

Public-agency ownership/participation with tax-exempt bond financing; CSCDA Community Improvement Authority frequently documented

Project Administrator Role

Due diligence, purchase/sale negotiation, financing down payment, host-city approval, closing, property-management oversight and regulatory-compliance administration as described in public-agency materials

People

Organizations

Properties

Projects

Relationships

Money Relationships

Financial Entities

Financing

Developers

Roles

Categories

Themes

Financial Relationship

Public-private middle-income housing transactions using public-agency ownership/participation structures, tax-exempt bonds, project administrators, underwriters, lenders, and participating host cities.

Amount

Over $2 billion announced housing target

Amounts

Over $2 billion announced California middle-income housing targetOver $400 million capitalization reported at joint-venture launchApproximately $100 million capitalization — The Crescent at West HollywoodApproximately $140 million purchase — Millennium South Bay Apartments$182.7 million loan reported for Millennium South Bay$78 million capitalization — Renaissance at City Center in CarsonNot-to-exceed $143 million purchase price described for Monterey Station assignment

Record Notes

Standard Communities describes the platform as serving households around 80% to 120% of area median income and specifically identifies teachers, firefighters, police, healthcare workers, and other public/essential workers among the intended workforce. Public-agency documents describe the project administrator/sponsor role as including due diligence, negotiating purchase and sale terms, financing down payments, seeking host-city approval, closing transactions, overseeing property managers and ensuring regulatory compliance. The specific project-administrator entity can be a Standard affiliate rather than Faring itself. This is a documented Faring housing business model in nearby jurisdictions. No reviewed source establishes that Standard-Faring Essential Housing, Faring, or Standard Communities participated in CCUSD's Brookwood/Rivercrest real-estate study; the similarity in teacher/workforce-housing framing remains thematic overlap only, not a direct relationship.

Source URLs

Related Records

document

Triston Ezidore Campaign Email — September 9 Faring Event

Campaign email from Triston Ezidore announcing and reminding recipients of a September 9, 2026 joint campaign event with Freddy Puza at Faring, 659 N. Robertson Boulevard in West H…

event

Ezidore and Puza Campaign Event at Faring

Triston Ezidore’s September 8 campaign email announced a September 9, 2026 “LGBTQ Leaders for Freddy & Triston” event with Freddy Puza at Faring, 659 N. Robertson Boulevard, West H…

money

2018 Save the Factory Referendum Campaign Spending

WEHOonline, citing campaign-finance documents filed with the West Hollywood City Clerk, reported that the “Save the Factory” committee established by Faring Property Group spent $1…

money

2024 Robertson Lane Refinancing

Centennial Bank provided $35 million in refinancing for Faring's Robertson Lane development site in West Hollywood. Priority Capital Advisory arranged the financing for the borrowe…

money

2026 Sale of 8800-8804 Melrose Avenue

Acadia Realty Trust disclosed the July 2026 acquisition of 8800-8804 Melrose Avenue for $29 million. Transaction reporting identifies Jason Illoulian/Faring Capital, Cobby Pourtavo…

money

Faring / Carson Goose Option and Land Payments for Carson Place

Carson public records document the financial terms tied to Faring Capital's option agreement, later assigned to Carson Goose Owner, LLC, for Cells 3, 4, and 5 of the former Cal-Com…

organization

Carson Goose Owner, LLC

Faring-affiliated project entity documented by Carson public records as the assignee of Faring Capital's option rights and obligations for Cells 3, 4, and 5 of the former Cal-Compa…

organization

Faring

West Hollywood-based real-estate investment and development platform founded and led by Jason Illoulian. Public records place Faring’s headquarters at 659 N. Robertson Boulevard an…

person

Jake Stevens

Faring real-estate executive documented in California CEQA and West Hollywood project records. CEQAnet identifies Jake Stevens as Faring Senior Vice President at 659 N. Robertson B…

person

Jason Illoulian

Founder and CEO of Faring, a West Hollywood-based real-estate investment and development platform. Corporate, public-agency, lobbying, campaign-finance, financing, civic, project, …

property

8800-8804 Melrose Avenue

Single-tenant luxury retail property at 8800-8804 Melrose Avenue in West Hollywood. Acadia Realty Trust states that it acquired the property in July 2026 for $29 million and that i…

property

Carson Place / former Cal-Compact landfill Cells 3, 4, and 5

Public-private redevelopment site in Carson consisting of Cells 3, 4, and 5 of the former Cal-Compact landfill. Faring Capital entered the original option agreement with the Carson…

property

Robertson Lane

West Hollywood development assemblage associated with Faring and Robertson Court, LLC, spanning Robertson Boulevard, La Peer Drive, and Santa Monica Boulevard parcels. Earlier appr…

relationship

Faring / Carson Goose Owner — Carson Reclamation Authority Carson Place Relationship

Direct public-private redevelopment relationship documented by Carson records. Faring Capital entered an option agreement with the Carson Reclamation Authority for Cells 3, 4, and …

relationship

Jason Illoulian / Faring — West Hollywood Civic, Campaign, Land-Use, and Transaction Network

Public records, buyer disclosures, and filing-based reporting document a recurring West Hollywood institutional and real-estate network around Jason Illoulian and Faring that inclu…

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