Haddington 3

Haddington III is a vital preservation and rehabilitation project located in the Haddington neighborhood of Philadelphia. It aims to maintain long-term affordability and improve the living conditions for 49 low- and very low-income families, including formerly homeless households. Led by ACHIEVEability, a seasoned non-profit housing and social services provider, the project will merge and resyndicate two existing Low-Income Housing Tax Credit (LIHTC) deals. It includes comprehensive renovations of all units—scattered-site homes—ensuring modern, energy-efficient, and accessible living conditions. All residents will engage in ACHIEVEability’s Family Self Sufficiency Program, which supports tenants with education, employment, and life skills services on their journey toward self-sufficiency.
The project is backed by strong community support, benefits from a $550 monthly rent subsidy per unit and over $1 million in capital funding from the Philadelphia Housing Authority, and is located in a transportation-rich area providing convenient access to jobs, schools, and services.

SSCG’s Role

Stone Sherick played a pivotal role in the structuring and financing of Haddington III. Their expertise guided the complex resyndication process, facilitated the alignment of LIHTC and public funding sources, and ensured compliance with regulatory requirements. Additionally, Stone Sherick coordinated with stakeholders including the Philadelphia Housing Authority and community partners to secure critical rent subsidies and capital commitments, making the preservation effort financially viable and sustainable.