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Fairstead, a New York-based real estate firm that specializes in affordable and mixed-income housing, has purchased a 123-unit Section 8 housing development for the elderly in South Florida for $29.5 million.

Fairstead plans invest in a multimillion-dollar rehabilitation of the complex at 5010 N Nob Hill Road in Sunrise, Florida, in Broward County, including renovations of the apartments to include new kitchens, baths, flooring, windows, and air conditioning. The rehab plans also include substantial structural work and upgrades to the property’s community room, landscaping, and other amenities.

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Ross Todd

Ross Todd is the Editor/columnist for the Am Law Litigation Daily. He writes about litigation of all sorts. Previously, Ross was the Bureau Chief of The Recorder, ALM's California affiliate. Contact Ross at [email protected] On Twitter: @Ross_Todd.

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