Fairstead’s multifamily footprint has gotten bigger, with its buy of an affordable housing community in Louisville, Kentucky.
The property, known as City View Park, spans 493,000 square feet across multiple buildings. A total of 503 affordable units are included, which break down to 72 one bedrooms, 221 two bedrooms, 179 three bedrooms and 31 four bedrooms. All of the units meet the standards for the low-income housing credits and are set aside for residents making between 40 and 60 percent of the area median income. Also, 468 units qualify for Section 8 contracts.
