Alexandria’s Samuel Madden Homes set for major overhaul with $120 million Fairstead project

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Alexandria’s Samuel Madden Homes set for major overhaul with $120 million Fairstead project

Fairstead, a national real estate developer, is set to transform the Samuel Madden Homes in Old Town (899 & 999 North Henry Street).

The company announced today (May 19) that it has secured $120 million to redevelop the existing 66-unit public housing site into a 207-unit affordable and mixed-income community.

The new six-story, 295,000-square-foot development will serve families earning 30%- 80% of the Area Median Income (AMI) in Alexandria. The reimagined community includes 77 units for households earning 30% AMI, 27 units for those earning 50% AMI, 52 units for households at 60% AMI, and 51 units for those earning up to 80% AMI.

“This project represents a major milestone for Fairstead as our first ground-up construction effort. Made possible through an incredible public-private partnership, we look forward to making a positive impact on the local Alexandria community while deepening our commitment to providing affordable housing nationwide,” said Jeffrey Goldberg, CEO at Fairstead.

The new community, slated for completion in fall 2027, will offer a range of one- to four-bedroom homes. Residents will enjoy underground parking and amenities like a creative studio, a game room with free internet, and a wellness courtyard.

“Ensuring affordable housing options is essential for a thriving and inclusive Alexandria,” said Mayor Alyia Gaskins. “More than just a development, this project reflects our deep, shared commitment to uplift and work alongside the communities we serve. We’re incredibly proud to see this vision become reality and bring tangible relief to some of our most rent-burdened residents.”

Fairstead is teaming up with the Alexandria Redevelopment and Housing Authority (ARHA) and The Communities Group to incorporate local history into the project. This includes oral histories, archaeological studies, and public signage to share the area’s rich past.

The development aims for high environmental standards, meeting Zero Energy Ready Home criteria and Enterprise Green Communities Certification. A partnership with Virginia Tech’s Center for Housing Research will help integrate green design to cut down on energy use.

“Partnering with Fairstead to breathe new life into this historic community has been a big step forward for affordable housing in Alexandria,” said Eric Johnson, CEO of the Alexandria Redevelopment and Housing Authority (ARHA). “We’re deeply thankful to the City and its residents for their unwavering support. As this redevelopment takes shape, we’re excited to see the positive change it will deliver to families in our city for generations to come.”

The project will also feature a community food hub run by local nonprofit ALIVE!, offering fresh food, cooking classes, and support services in a 500-square-foot ground-floor space.

Financial backing comes from a mix of partners, including Boston Financial, Freddie Mac, Virginia Housing, Sterling Bank, and the City of Alexandria. The project uses a HUD Section 18 transaction along with Low-Income Housing Tax Credits and Energy Efficiency Tax Credits.

Demolition at the Samuel Madden Homes public housing site will commence in May 2025, with construction scheduled to begin in June. The project is estimated to be completed by the fall of 2027.

Fairstead and Partners Close on $120 Million Ground-Up Transformation of Historic ‘Samuel Madden Homes’ Public Housing Community in Alexandria, Virginia (rendering via Fairstead)