Fairstead Announces $26M Rehabilitation of 152-Unit Affordable Housing Community in Chesapeake, Virginia
As the federal government steps away, some housing developers are stepping up. They are teaming with local governments, nonprofit organizations and private entities to do more than provide safe and affordable housing. They’re also helping their residents gain access to necessities like foods, basic healthcare and job training. They are proving that while housing is fundamental to quality of life, it can also be a stepping-stone to community revitalization and a potent mechanism to address structural inequality.
Among these developers is New York City-based Fairstead, a national real estate company whose 25,000 affordable housing units span across 28 states.
Partnering with the Alexandria (Va.) Redevelopment and Housing Authority and The Communities Group, the company is redeveloping the city’s Samuel Madden Homes, a public housing development built in the mid-1940s to house African-American defense workers in the city’s Uptown enclave. The multi-block project will yield 207 affordable units. On the ground floor, retail space will be anchored by nonprofit partner ALIVE! and will provide food and additional services for the enclave of Old Town Alexandria.
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