Standard Communities Buys 186-Unit Philadelphia Complex

The $29.3 million acquisition of The Helston aims to preserve affordable rent options for local working families.

Updated on Oct. 29, 2026 in Commercial

Bold vector editorial illustration of a mid-rise brick apartment building facade with repetitive window patterns. — Standard Communities acquired The Helston in Philadelphia for $29.3 million, preserving 186 units as affordable housing for working families. AI Illustration. Upload story photo >

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Do you trust large investment firms to keep local apartment buildings affordable for long-term residents?

Standard Communities has acquired The Helston in Philadelphia for $29.3 million, marking a major expansion in local affordable housing. The eight-story apartment complex serves renters earning below 80 percent of the area median income.

Why it matters

The acquisition reflects a strategic push to preserve long-term affordable housing options for working families in Philadelphia. Standard Communities has committed to a broader $150 million investment initiative in the region to secure over 1,000 units.

The Helston features 186 units ranging from 480 to 1,342 square feet on a 2.2-acre site. The property includes 255 parking spaces and amenities like a fitness center.

The players

Standard Communities

A national real estate firm that specializes in the acquisition and preservation of affordable housing for working families.

Scully Co.

A multifamily real estate management and investment firm that previously owned The Helston.

The details

Standard Communities funded the purchase using capital from a dedicated Community Reinvestment Act investment vehicle. The firm focuses on acquiring existing multifamily properties to maintain rent restrictions for residents earning under 80 percent of the area median income. The property, located at 3801 Conshohocken Ave., maintains its existing residential footprint and amenity offerings.

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

The Home Front

This acquisition follows a pattern of investment enabled by the Community Reinvestment Act, which encourages financial institutions to support housing in their communities. It highlights a growing trend among national developers to prioritize the acquisition of existing housing stock to preserve affordability.

Renters at The Helston should watch for official notices regarding any changes to property management or rent structure resulting from the new ownership. Prospective residents seeking affordable housing should monitor the developer's progress as they target 1,000 additional units in the region.

The takeaway

Standard Communities plans to acquire over 1,000 units in the Philadelphia area over the next two years to bolster the local supply of affordable housing. Residents should keep all lease documentation in a secure location as property ownership transitions occur.