Fairstead Named One of the Country’s Top Apartment Owners by NMHC
Mayor Dyer Proclaims September 17, 2022 as Atlantis Community Day in Virginia Beach
Large-Scale Renovation of Atlantis Apartments is 75% Complete
VIRGINIA BEACH, VA (September 17, 2022)—Today, Virginia Beach elected officials including Mayor Robert Dyer, State Delegate Anne Ferrell Tata, and City Councilmembers Guy Tower and Linwood Branch joined community leaders and Fairstead, a purpose-driven real estate company, for the second annual Atlantis Community Day at the Atlantis Apartments. Atlantis Community Day is Fairstead’s public-private collaboration celebrating the local partnerships in Virginia Beach and bringing together critical community social services from civic and religious organizations to Atlantis residents. The 12-acre property with 208 affordable apartment homes is undergoing a full-scale renovation, which is now 75 percent complete.
Mayor Robert Dyer kicked off the event by issuing a proclamation declaring September 17, 2022 as Atlantis Community Day in Virginia Beach to celebrate the public-private partnership to revitalize the community.
“We’ve all heard the saying, ‘It takes a village,’” said Virginia Beach Mayor Robert M. “Bobby” Dyer. “I can’t think of a better example of how a village of community partners has come together along with the Fairstead organization and used their knowledge and resources to make this community a place that residents can truly be proud to call home.”
“Atlantis is a special community in Virginia Beach, and I am proud to represent it. I am thrilled to see how far Atlantis has come in such a short period of time. Fairstead promised they would bring positive change to this community, and working in partnership with our community leaders, they are delivering on that promise and I know the best is yet to come,” said Virginia Beach Councilmember Guy Tower. “Atlantis is a special community to Virginia Beach and to Fairstead,” said Estelle Chan, Director, Development, at Fairstead. “Virginia Beach’s elected and civic leaders exemplify what it means to support a neighborhood’s most vulnerable residents. This dedication inspired Fairstead to couple our renovation projects with partnerships and social support across our nationwide portfolio, following in the footsteps of what we’re calling our ‘Atlantis model.’ We are thrilled to renew our commitment to Atlantis and to welcome residents into their brand new homes.”
At the inaugural Atlantis Community Day in 2021, Fairstead launched the neighborhood’s first publicprivate collaboration created to bring services to Atlantis residents, along with Fairstead’s first $25,000 donation to support the Virginia Beach Parks and Recreation Youth Opportunities Office.
Since acquiring the property, Fairstead worked with local partners to bring services and programming to Atlantis. Fairstead created a partner-parents meeting to encourage stronger school-home connections and provided transportation for children to get to school during a driver shortage. The Virginia Beach Public Schools has brought its Reading Bus to Atlantis, a fun and engaging way for families to promote reading and literacy. Fairstead also instituted case management services, coordinated COVID vaccination clinics on-site, worked with partners to distribute laptops, tablets, school supplies and phones to residents, and brought in food access services.
At this year’s Atlantis Community Day, Fairstead celebrated this work with its community partners and committed to a second $25,000 donation to the Virginia Beach Parks and Recreation Youth Opportunities Office. Fairstead also recognized members of the community with Community Champion awards: Mayor Dyer, Councilmember Tower, Captain Harry McBrien of the Virginia Beach Police Department (2nd Precinct), Seatack Community Civic League President Tammie Mullins-Rice, and Spring Branch Community Church volunteer Anna Strickland. These Community Champions have played instrumental roles in the revitalization of the Atlantis Apartments. The day featured a DJ, food, face painting and other activities for families, and health screenings and resources from local partners.
“The Seatack Community Civic League is always happy to partner with organizations who bring positive change to our community. We will continue to support, educate, and keep our community informed on issues that affect them directly. Thank you, Fairstead for providing the necessary resources needed by this community,” said Tammie Mullins-Rice, President of the Seatack Community Civic League.
Fairstead acquired Atlantis Apartments in 2021 and is investing $15 million to provide much-needed upgrades to the 51-year-old property. Home to more than 600 residents, every apartment is receiving new kitchens, appliances, bathrooms, flooring, and fixtures, as well as new windows, roofs and improved HVAC systems. In addition to the existing amenities — a daycare, laundry facilities, basketball courts and playgrounds — Fairstead is adding a community garden, fitness center, and computer room. Renovations are expected to be completed by early 2023.
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 $6 billion in assets and identified pipeline. With offices in New York, Maryland, and South Carolina, Fairstead’s team manages 90+ communities across the country and runs its comprehensive real estate platform, which includes acquisitions and development, venture capital investments in prop tech, 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.
