Fairstead to Undertake $25M Renovation of Houston Affordable Housing Complex

by Taylor Williams

HOUSTON — Fairstead, an investment firm with three offices along the East Coast, will undertake a $25 million renovation of Coppertree Village Apartments, a 324-unit affordable housing complex in Houston. Matt Napoleon and Joseph Mandeville of Berkadia arranged construction financing for the project, and R4 Capital provided tax credit equity. Renovations will include new kitchens, bathrooms, windows and flooring to all units, as well as upgrades to the HVAC systems, roofing, siding and staircases of the buildings themselves. Lastly, the project team will add a new playground and community garden and redevelop the existing amenity building to support a computer lab, demonstration kitchen and a library.

You may also like