Fairstead Plans $26M Rehab of Chesapeake Affordable Housing Complex

Fairstead announced the $26 million revitalization of MacDonald Manor, a six-building, 152-unit affordable housing community located in Chesapeake, Virginia.

Working in partnership with the Chesapeake Redevelopment and Housing Authority, Virginia Housing and Hudson Housing Capital, the rehabilitation of MacDonald Manor will be financed through a federal program that combines elements of the Rental Assistance Demonstration and Section 18 programs. Total acquisition and rehabilitation costs amount to $55 million.

Located at 1331 MacDonald Road, in Chesapeake’s northeast corridor, MacDonald Manor is a six-building, two-story affordable apartment community designated for families. The property features 152 affordable residences, including three one-bedroom residences, 114 two-bedroom residences and 35 three-bedroom residences.

“MacDonald Manor represents our dedication to long-term stability for residents,” said Francis Yalda, Senior Associate, Fairstead. “Our team is proud to work alongside our partners to ensure that high-quality, affordable housing remains a priority in the Chesapeake community.”

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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