Fairstead Secures $120M Loan For Redevelopment Of Samuel Madden Homes In Alexandria, VA

The property involved in this transaction is a development site located at 899 North Henry Street in Alexandria, VA. The landlord for this asset is Fairstead. The transaction includes a loan amount of $120,000,000 which is intended for the redevelopment of the historic Samuel Madden Homes. This project will transform 66 garden-style units into a 207-unit affordable housing complex featuring diverse income levels and community spaces.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $120,000,000
• Address: 899 North Henry Street
• Market: Alexandria, VA
• Landlord: Fairstead

This redevelopment project is notable for its intent to increase the availability of affordable housing in the area, addressing the housing needs of community members. The comprehensive approach will incorporate various income levels and provide community spaces, aiming to enhance the living conditions and environment for future residents.