Fairstead Launches $24M Renovation of Dallas Section 8 Community
Fairstead has acquired the 167-unit Royal Crest Apartments, located at 3558 Willhurt Avenue in Dallas, with plans to invest approximately $24 million in an extensive redevelopment of the property. Originally built in 1969, the Section 8-subsidized housing community has seen little to no significant upgrades in over five decades.
The comprehensive renovation project will include both interior and exterior improvements aimed at enhancing the quality of life for residents and revitalizing the aging property. Construction began this month and is expected to continue through the fall of 2026.
Key financial partners supporting the renovation include the U.S. Department of Housing and Urban Development (HUD), Housing Options Inc. (a subsidiary of the Dallas Housing Authority), Cedar Rapids Bank and Trust, Capital One National Association, and Hudson Housing Capital, which is serving as the tax credit equity syndicator.
As part of its broader mission to preserve and improve affordable housing across the country, Fairstead currently owns and manages a portfolio exceeding 25,000 affordable homes in 28 states, including 1,166 units in Texas.
