Alexandria’s Historic Samuel Madden Homes Redeveloped to Green, Affordable Housing
First ground-up construction project for national real estate developer Fairstead
ALEXANDRIA, VA — National real estate developer Fairstead has closed on $120 million in funding to launch the complete redevelopment of the Samuel Madden Homes, a landmark public housing site in Alexandria’s Old Town neighborhood. The redevelopment, set to begin in June 2025 following demolition in May, marks Fairstead’s first-ever ground-up construction project—a milestone for the firm as it deepens its commitment to sustainable, affordable housing nationwide. The site is located on two contiguous blocks bounded by First Street on the north, North Patrick Street on the east, US Route 1 on the west, and Madison Street on the South, according to the draft memorandum of agreement dated November 1, 2023.
Originally constructed in 1945 to house African American defense workers, the Samuel Madden site holds deep historical significance. That legacy will be honored through an expansive preservation initiative, including oral histories, archaeological studies, and public interpretive signage in collaboration with the City of Alexandria.
In partnership with the Alexandria Redevelopment and Housing Authority (ARHA), The Communities Group, and the Virginia Center for Housing Research at Virginia Tech, Fairstead will replace the existing 66 aging units with a 207-unit mixed-income community designed to serve households earning 30% to 80% of the Area Median Income (AMI). Upon completion, each of the families occupying the 66 original units will be welcomed back to the new homes.
“This project represents a major milestone for Fairstead as our first ground-up construction effort,” said Jeffrey Goldberg, CEO at Fairstead. “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.”
A Model for Inclusive Urban Development
The new six-story, 295,000-square-foot development will set a new standard for energy efficiency, built to Zero Energy Ready Home standards and certified under the Enterprise Green Communities program. It will include a mix of one- to four-bedroom apartments, underground parking, and amenities that promote community health and engagement.
Designed by Torti Gallas + Partners (architecture/landscape) and Determined by Design (interiors), the project will feature:
- A creative studio for podcast recording
- A game room with free internet access
- An interior wellness courtyard
- 7,500 square feet of open space, including nearly 500 square feet designated for a community food hub run by local nonprofit ALIVE!
The food hub will provide fresh food access, cooking demonstrations, and support services like financial and legal assistance for the broader Alexandria community.
“This project is a game-changer, not only for us as a firm but also for the City of Alexandria,” said Noah Hale, Managing Director, Development at Fairstead. “Thanks to the incredible support from our partners, local leaders and the people of Alexandria, we’re transforming this site into a nexus of high-quality housing and essential community services. Our roots in Virginia run deep, and we remain committed to creating a lasting impact and uplifting the lives of local residents.
Honoring the Past, Building for the Future
As part of honoring the site’s rich legacy, the development team is actively collecting oral histories, conducting archaeological trenching, and preparing a documentary study to be archived and presented throughout the new community. The work pays tribute to the generations who once lived and worked there, beginning with the site’s use for wartime workers in the mid-20th century.
“Ensuring affordable housing options is essential for a thriving and inclusive Alexandria,” said City of Alexandria 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.”
A Collaborative Financial and Civic Effort
The financing structure draws on a complex and collaborative network of public and private partners, including:
- Boston Financial
- Freddie Mac
- Virginia Housing (as both permanent and construction lender)
- Sterling Bank (bridge financing)
- City of Alexandria (soft loan)
- HUD Section 18 disposition
- A blend of 4% and 9% Low-Income Housing Tax Credits
- 45L Energy Efficiency Tax Credits
“By contributing to the development of affordable and sustainable housing, we stand to make a long-lasting impact on the community,” said Steve Napolitano, Senior Managing Director at Boston Financial.
Timeline and Vision
Demolition at the Samuel Madden Homes will begin in May 2025, with construction starting in June. The full redevelopment is scheduled to be completed by fall 2027. The project will add significant density and housing opportunity to one of Alexandria’s most historic, high-opportunity neighborhoods—reimagining the Samuel Madden site as a modern, inclusive, and energy-efficient community for generations to come.
“Partnering with Fairstead to breathe new life into this historic community has been a big step forward for affordable housing in Alexandria,” Eric Johnson, CEO of ARHA. “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.”
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