Fairstead, a national, vertically integrated real estate company, marked the completion of major renovations at Lauderhill Point, a 176-unit affordable housing community in Lauderhill, Florida.
Renovations include major interior and exterior upgrades, a redeveloped community center, a reimagined outdoor playground, storm-resistant and energy-efficient upgrades, and expanded resident services.
Lauderhill Point was built in 1958 and comprises of 23 two-story buildings with a mix of two-, three-, and four-bedroom residences designated for families earning up to 60% of the Area Median Income (AMI). Acquired by Fairstead in 2024 for $26.5 million, the property has since undergone more than $17.7 million in renovations. Lauderhill Point is one of 13 communities that Fairstead owns and operates in Florida, contributing to the national real estate firm’s expansive portfolio of over 25,000 residences across 28 states.
“This project is one of our more comprehensive rehabilitation efforts, and it represents what’s possible when we invest deeply in our communities,” said Fairstead CEO Jeffrey Goldberg. “The renovations at Lauderhill Point have not only preserved affordability but also extensively improved the living experience for more than 640 residents. We’re incredibly proud of the collaborative effort that’s transformed this property into a sustainable and safe community.”
Located at 3146 NW 19th Street within the Miami-Fort Lauderdale metropolitan area, Fairstead initiated rehabilitation efforts at the property in Q1 2024, and the renovations were officially completed in Q2 2025. In just the first six months of Fairstead’s ownership, Lauderhill Point saw a 36% drop in daily police calls, according to the Lauderhill Police Department. Weekly coordination between Fairstead, its on-site security team, and law enforcement has driven a visible shift in community safety and a transformation of its culture and reputation.
“Lauderhill Point’s revitalization reflects the power of collaboration between public and private partners,” said Fairstead Senior Associate, Development, Lauren Jolliver. “Through close coordination with the City of Lauderhill, local agencies, and our financial partners, we’ve delivered long-term affordability and stability in one of South Florida’s core growth markets. This is what housing preservation at scale looks like.”
The full extent of Fairstead’s rehabilitation and preservation efforts includes the following:
- Major upgrades to bathroom and kitchen areas, including newly installed stainless steel appliances, upgraded flooring, quartz countertops, windows to increase access to natural light, bathroom vanities, and more.
- Exterior improvements, including the repair and repainting of all building exteriors to elevate the appearance and resiliency of building facades, roof replacements, as well as the adoption of durable, storm-resistant features.
- Interior upgrades such as drywall abatement and repair, as well as energy-efficient upgrades including new HVAC and water heating systems, and modern fixtures like ceiling fans and LED lighting to help reduce residents’ monthly utility bills.
- Redeveloped community building with flexible usage for residents, including a new resident lounge, a brand-new community kitchen, and a fully operational computer lab, all of which support the educational and professional development initiatives at the property.
- New lighting installation across the property to improve visibility, a measure designed to enhance safety and security for residents.
- Revitalized and expanded outdoor play areas for the 400+ children who reside within the property, including a new shuffleboard court.
- In-unit compliance upgrades, including the overhaul of nine homes to adhere to the Uniform Federal Accessibility Standards and three homes to adhere to hearing and vision impairment standards.
Aligned with Fairstead’s commitment to resident safety, resident services will include a hurricane preparedness program at the community, which includes resources for the upkeep and maintenance of drainage systems.
“This partnership with Fairstead has brought much-needed affordable housing to one of the city’s most connected and sought-after neighborhoods, opening doors to opportunity for more of our residents,” said Lauderhill Mayor Denise D. Grant. “Going beyond providing housing, these renovations have provided our city’s low- and moderate-income families with improved access to reliable public transportation, high-performing schools, and community resources that support long-term stability and safety.”
Home to more than 640 residents, the Lauderhill Point Ribbon-Cutting and Community Day event welcomed the entire apartment community to celebrate community progress. Residents were joined by local elected officials, including Lauderhill Mayor Denise Grant, , City Commissioners Melissa Dunn and John Hodgson, as well as City Manager Kennie Hobbs and Assistant Manager Sean Henderson, to commemorate the evening. Attendees enjoyed a full day of giveaways, face painting, snow cones, and catering provided by the community’s favorite GoldSoul Barbeque.
“The city has seen significant safety improvements at Lauderhill Point, a direct result of strong collaboration between Fairstead, local law enforcement, and on-site security,” said Lauderhill City Commissioner Melissa P. Dunn. “This transformation is a clear indicator that the rehabilitation efforts are working, improving not only the aesthetics of the property, but also resident wellbeing. As such, we’re excited to continue our collaboration with Fairstead and other local institutions toward building a safer, stronger community.”
Total acquisition and development costs at Lauderhill Point amounted to $68.7 million, or approximately $390,000 per residence. Financial partners include Housing Finance Authority of Broward County, which helped obtain $40 million in tax-exempt bond financing, and Florida Housing Finance Corporation, which facilitated a federal funding issuance of $25 million via the LIHTC program. Additional financial partners include Freddie Mac, PNC Bank, and Berkadia, which provided $550,000 in supplemental funding. The property also utilizes 4% Low-Income Housing Tax Credits.
“Investments like these not only transform properties, they strengthen entire communities,” said Costas Paleologos, Senior Vice President and Regional Manager of Multifamily Originations for PNC Bank. “At PNC, we invest in projects that build long-term resilience for families and neighborhoods. We’re proud to be part of a project like Lauderhill Point that’s making a tangible impact for families today and for future generations.”
“This rehabilitation is a powerful example of how strategic financing can help preserve and enhance affordable housing in communities that need it most,” said Matthew Napoleon, Senior Managing Director at Berkadia. “We’re proud to work alongside partners who share a commitment to long-term affordability, safety, and quality of life for residents.”
With a growing portfolio of more than 25,000 residences across 28 states, Fairstead opened its first regional office in Delray Beach in 2023. The firm’s Florida portfolio is primed for growth and is expected to exceed more than 2,000 units by 2026.
