WHF-PA Members Preserving Affordable Housing in West Philadelphia

Mission First Housing Group is currently working to preserve 48 units of subsidized rental housing in the Haddington neighborhood of West Philadelphia, known as the Haddington III Preservation Initiative. Nearly a dozen women at Mission First, Enterprise Community Investment, Barton Partners and Berman Indictor—most of us WHF-PA members–guided this project from concept through design into construction and finally lease up.

Haddington III is a great example of Women in Housing Finance relationships at work. Enterprise Community Investment, which purchased the tax credits, was represented in the transaction by Daniella Etra. In addition to Mission First women who are members, our architect Jennifer Bonaccorsi of Barton Partners is a member, as is Jeanine Dankoff, Esq., of Berman Indictor who assisted in closing on the RAD funding from PHA.

Mission First Housing Group’s Development Team, comprised of Sue McPhedran, Senior Real Estate Development Manager; Emilie Richey, Development Finance Manager; and Kate Murray, Associate Project Manager worked tirelessly to secure financing and ensure smooth transitions as the project is under construction and handed off to property management. Catherine Panas, Director of Design and Construction, is leading the construction team in the field and overseeing the architect. Cecilia Loose, Chief Financial Officer; Jessica Moore, Director of Asset Management; Kierston Schantz, VP of Accounting and Reporting – REO; and Cyntia Fortune, Real Estate Development Accounting Manager, are providing much needed leadership and support from Mission First’s Finance and Asset Management Departments. Other critical members of Mission First and CPM’s team include, Clare Oestreicher, Director of Compliance, Heidi Bohn, Director of Property Management, and Jamila Harris-Morrison, Executive Director of ACHIEVEability.

Haddington III consists of the rehabilitation of 48 single family row homes, which were originally developed as two separate LIHTC developments. While the homes are nearly all occupied and continue to provide much needed housing for homeless and low income residents of West Philadelphia, typical wear and tear over the last 16-17 years resulted in the need for substantial upgrades and replacements. The project contains both transitional (21) and permanent (27) units, and residents have access to ACHIEVEability’s Family Self-Sufficiency Program. Haddington III received an allocation of Low Income Housing Tax Credits (LIHTC) from the Pennsylvania Housing Finance Agency in 2016. The Project was among the first to be awarded Project-Based Vouchers by the Philadelphia Housing Authority under the Rental Assistance Demonstration Program (RAD), which will provide valuable rental subsidies for residents, many of whom were previously homeless.

Haddington III is being renovated under a four-phase construction schedule. Phase I consisting of twelve units have been completed, and the remaining three phases will be completed over the course of the next twelve months. Mission First’s affiliate, Columbus Property Management & Development, Inc. (CPM) is the general contractor and property manager of Haddington III.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: