Fairstead commits $500m to affordable housing strategy

Fairstead, a real estate developer focused on the creation and preservation of affordable housing, has announced a new equity commitment of $500 million to strategically grow the company’s operations.

The new capital will expand its multifamily housing portfolio and enhance the firm’s proptech, sustainability and community impact programming for its affordable, workforce and market-rate housing residents across the United States. Since 2014, Fairstead has acquired or developed more than $4 billion of multifamily properties and is currently working on an identified pipeline of an additional $2.3 billion in new acquisitions across the country, including Florida, Kentucky, New Jersey, New York, Pennsylvania, and Washington, D.C.

The equity commitment from the firm’s key investors comes just a little more than a month after the White House announced plans to increase the affordable housing supply in cities across the country, and as federal legislators continue to de