Fairstead and HUD Celebrate $750K GRRP Award Announcement to Fund Installation of Solar Panels at Chenoweth Woods Apartments
Community-wide improvements enable residents to enjoy beautiful, affordable homes for years to come
Fairstead continues to expand its presence in Florida and throughout the southeast, recently opening a corporate office in the Sunshine State
Jacksonville, Fla. – Today, Fairstead, a purpose-driven, vertically integrated real estate company committed to sustainable development and the creation and preservation of high-quality housing, residents of the Beachwood Apartments, and local partners celebrated the completion of renovations at the affordable housing community. The rehabilitation included modernizing all 148 apartments, remodeling community spaces, and sustainability measures.
“Florida is experiencing exponential growth and it’s putting pressure on the state’s housing stock. In this environment, it is more critical than ever to not just preserve our affordable housing, but to modernize it. That’s what Fairstead is doing all over Florida and throughout the U.S.,” said Noah Hale, Director, Development at Fairstead. “The renovations at Beachwood make it more than just a place to live; it’s a place to thrive with improvements to every home and throughout the community.”
The Community Day celebration brought food, music, and fun for the families at Beachwood including face painting, games, a photobooth, and more. Local partners hosted educational programming for residents focused on financial literacy, career opportunities, and healthcare. Participating community partners included the Jacksonville Department of Health, Jacksonville Public Library, voter registration provided by LWV JaxFC, North Florida Benefits, Truist Bank, W.A.V.E. Foundation, Wealth Watchers Inc., and Year-Up at Florida State College Jacksonville.
The full-scale renovation of the community included new kitchens and bathrooms, energy-efficient appliances, new windows, doors, LED lighting, and roofing.
Grandbridge Real Estate Capital provided financing for the comprehensive renovation.
“Grandbridge was proud to partner with Fairstead to bring improvements to 148 affordable housing units in the Jacksonville area. We look forward to continuing our longstanding relationship with Fairstead,” said Jessica McGuire, Director at Grandbridge Real Estate Capital.
Beachwood Apartments is part of Fairstead’s proactive water- and boiler-monitoring programs to reduce consumption and improve the sustainability and resiliency of the community. Each home also features a private balcony or patio. Amenities for residents include a fitness center, community room, reception area, and computer room with free wi-fi.
The ribbon-cutting comes as Fairstead’s presence continues to grow across the Sunshine State, with the purpose-driven real estate company establishing its first corporate Florida office in Delray Beach to support its growth in Florida and throughout the region.
About Fairstead
Fairstead is a purpose-driven vertically integrated real estate developer specializing in creating sustainable, high-quality housing. The firm’s national footprint includes more than $7.8 billion in assets and identified pipeline. With offices in New York, Maryland, South Carolina, Colorado, and Florida, Fairstead’s team manages 170+ communities across the country and runs its comprehensive real estate platform, which includes acquisitions and development, venture capital investments in proptech, design and construction, energy and sustainability, property management, marketing, and leasing. The firm also administers one of the industry’s most proactive community impact programs to provide on-site support services to residents. For more information, visit www.fairstead.com.
