Fairstead Ranks Among the Top Affordable Housing Owners by AHF
Kinneret Apartment Residents, Property Owner and Manager Fairstead and Elected Officials Came Together to Celebrate Recently Completed Renovations with a Ribbon Cutting and Community Day
ORLANDO, Fl. (June 12, 2024) – Fairstead, a purpose-driven, vertically integrated real estate company committed to sustainable development and the preservation of high-quality affordable housing, hosted a ribbon cutting ceremony and community day on Tuesday at Kinneret Apartments in celebration of recently completed renovations at the fully-affordable development for seniors.
Kinneret Apartments, a 280-apartment affordable senior housing property owned and managed by Fairstead, recently completed major renovations totaling $18 million. The renovations brought façade and roof repairs, common area improvements, modernized kitchens and bathrooms, new flooring, senior-friendly accessibility improvements, and upgraded building systems to the development. Fairstead also installed energy-efficient appliances, lighting, and plumbing fixtures in every unit.
More than 100 residents attended the event, where they connected with local elected officials including Orlando City Mayor Buddy Dyer, Orlando City Commissioner Patty Sheehan, Orange County Mayor Jerry Demings, Orange County Commissioner Mayra Uribe, Florida State Senator Linda Stewart, and Florida State Representative Anna Eskamani. During the event, attendees also enjoyed a luau themed barbeque meal, played games, and had access to resources from a variety of local community organizations, such as the Kinneret Council on Aging.
“It was an honor to celebrate a new era of Kinneret Apartments with so many community members and local leaders,” said Elizabeth Marsh, a Senior Associate on the Development team at Fairstead. “Kinneret is a beloved part of the downtown Orlando community, and these critical improvements were essential in order to preserve much-needed affordable homes for seniors.”
“I am so pleased to live in Kinneret Apartments, which is a wonderful community in downtown Orlando. I am excited by the progress made by the renovations, especially the new accessibility features in my unit, which make it easier to get around in my wheelchair, and by the new dog park that I get to enjoy with my puppy, Chance,” said resident Lynda York.
“Nationwide, affordable housing is one of the most complex challenges facing cities,” said Orlando Mayor Buddy Dyer. “Having community partners like Fairstead helps our residents remain in their homes at an affordable rate and supports the city’s Livable Orlando Age-Friendly Action Plan, which works to ensure residents and visitors of all ages and abilities have access to an unmatched quality of life.”
“Kinneret, which has been a great lifesaver for seniors, has received a wonderful face-lift. These improvements will be enjoyed for many years to come and set an example for great senior living,” said State Senator Linda Stewart.
The Kinneret Board of Directors is proud to stand with Fairstead, as we celebrate the successful renovation of the Kinneret Apartments. We know that the Fairstead Team will continue to provide for the needs of the residents in the same manner that was the vision of the founding community members in 1967,” said Alison Polejes, Board Chair, Kinneret Council on Aging.
Fairstead, which is currently celebrating its 10-year anniversary as a company, acquired Kinneret Apartments in September 2022. The renovations at Kinneret began in October 2022, and were completed in June 2024. Outside of Kinneret, Fairstead owns a growing portfolio of more than 25,000 units nationally, including more than ten properties consisting of nearly 2,000 units of affordable housing owned and managed by Fairstead across The Sunshine State. These units are in addition to Fairstead’s local headquarters in Delray Beach, which opened in 2023.
