CHESAPEAKE, VA. — Fairstead has acquired MacDonald Manor, a 152-unit affordable housing community in Chesapeake, with plans for a $26 million rehabilitation of the property. In partnership with Chesapeake Redevelopment and Housing Authority (CRHA), Virginia Housing and Hudson Housing Capital, Fairstead will finance the acquisition and rehabilitation of MacDonald Manor through a federal program that combines elements of HUD’s Rental Assistance Demonstration (RAD) and Section 18 programs to ensure reinvestment in the community, while preserving affordability for residents. Originally built in 1972, MacDonald Manor features three one-bedroom units, 114 two-bedroom units and 35 three-bedroom units that are reserved for residents earning 60 percent or less of the area median income (AMI).
Renovations are set to commence this fall, with completion scheduled for fall 2027. Interior renovations will include modern lighting and plumbing fixtures, stainless steel appliances and new flooring and paint. Exterior improvements will consist of fresh landscaping, the repair of building facades and upgraded roofs and windows. Enhancements will also be made to the leasing office, maintenance and community buildings, mailboxes and the basketball court, as well as with the addition of a new playground.
Fairstead recently announced the $10 million revitalization of another public housing community in Chesapeake: the 65-unit Peaceful Village.