Standard Communities Buys Philadelphia Apartment Complex

The firm acquired The Helston for $29.3 million to boost local affordable housing stock.

Updated on Oct. 29, 2026 in Commercial

Standard Communities Buys Philadelphia Apartment Complex

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Standard Communities has purchased The Helston, an eight-story residential building in Philadelphia, for $29.3 million. This acquisition is part of a larger plan by the company to invest $150 million into affordable housing within the region.

Why it matters

The investment aims to preserve long-term housing options for working families in Philadelphia. Most units at the property are designated for renters earning below 80 percent of the area median income.

The Helston consists of 186 units spread across an eight-story building on a 2.2-acre site. The property includes 255 parking spaces and offers amenities such as a fitness center and Zipcar access.

The players

Standard Communities

This is a real estate investment firm that focuses on the acquisition and preservation of affordable housing.

The Helston

This is an 186-unit apartment complex located at 3801 Conshohocken Ave. in the Wynnefield Heights neighborhood of Philadelphia.

Scully Co.

This is a real estate management and investment company that held ownership of the property prior to the most recent transaction.

The details

The units at the property range from 480 to 1,342 square feet in size. Standard Communities utilized capital from its new Community Reinvestment Act fund to secure the purchase of the building.

March 2017: Scully Co. acquired The Helston for $14.7 million.
October 2026: Standard Communities finalized the acquisition of The Helston.

Culture Shift

This move represents a broader trend of private firms using Community Reinvestment Act funds to stabilize urban housing markets. By targeting affordable units, the company positions itself against market-rate developers to secure long-term rental stock.

Residents currently living in The Helston can expect the property to remain focused on housing for those earning below 80 percent of the area median income. The firm plans to acquire over 1,000 units in the area, potentially influencing regional rental availability.

The takeaway

This transaction highlights how private capital is increasingly being directed toward the preservation of existing affordable housing rather than new development. Investors interested in this sector should watch for the firm's progress toward its goal of acquiring 1,000 units in the region.