Fairstead Announces $26M Rehabilitation of 152-Unit Affordable Housing Community in Chesapeake, Virginia
Fairstead Acquires 503-Unit Affordable Housing Community ‘City View Park’ in Louisville, Kentucky
New community, acquired through the purchase of a General Partner interest, represents one of Fairstead’s largest investments in the Southeast
Latest acquisition grows national real estate company’s footprint in Louisville proper to 700 affordable homes and brings national footprint to over 26,000 units
As owner and property manager, Fairstead will enhance resident services and deliver free high-speed internet and cable to all households
LOUISVILLE, Ky. (October 27, 2025) —Fairstead, a leading national real estate company committed to creating, preserving and improving high-quality affordable housing, today announced the acquisition of City View Park, a 503-unit affordable housing community in Louisville, Kentucky. With this acquisition, Fairstead’s national footprint now exceeds 26,000 apartment homes across 28 states. Statewide, the transaction increases Fairstead’s footprint to more than 1,600 homes.
City View Park, located at 625 S. 10th St., was acquired through the purchase of a general partner interest. The acquisition underscores Fairstead’s commitment to creating thriving, affordable communities in high-demand markets where families feel safe, connected and supported. Fairstead will assume the role of owner and property manager at City View Park, where residents will benefit from new programming and increased access to services, while preserving affordability.
“The addition of City View as our fifth property in Louisville represents another step forward in our continued commitment to both ownership and management in Kentucky,” stated Jeffrey Goldberg, CEO of Fairstead. “We remain dedicated to preserving affordable housing, improving operations and ensuring high-quality resident services at the City View Park community as we continue to grow across the state.”
Originally built in the early 1970s and comprehensively renovated in 2021, City View Park comprises 493,000 square feet and spans multiple buildings. The community includes 72 one-bedroom, 221 two-bedroom, 179 three-bedroom and 31 four-bedroom residences. Of the 503 total units, 468 are supported by Section 8 contracts, and all homes are governed by Low-Income Housing Tax Credit (LIHTC) affordability restrictions and reserved for residents earning between 40% and 60% of the AMI (Area Median Income).
Under Fairstead’s ownership and management, City View Park will receive enhanced resident services and modern amenities throughout the property, including free cable and high-speed internet for all residents. Fairstead will also bring on two on-site resident service coordinators to oversee community programming. Additional family-friendly amenities include an interactive playground with a watersplash pad.
The acquisition of City View Park was supported by long-standing financing partners, including AGM as the first mortgage lender, PNC as the tax credit investor and subordinate financing from the Louisville Affordable Housing Trust Fund (LAHTF), the U.S. Department of Housing & Urban Development (HUD) and Louisville/Jefferson County Metro.
