HOUSTON, TX – Fairstead, Houston Mayor Sylvester Turner, City Council Member Tarsha Jackson, and partners announced a $25 million renovation at Coppertree Village Apartments, a fully affordable community located in the Acres Homes neighborhood of Houston, Texas. Fairstead – a purpose-driven vertically integrated real estate company – developed a comprehensive plot of improvements that will deliver upgrades to all 324 apartments, building systems, and throughout the campus.
“This renovation is an vital step in continuing to do and implement projects that support our goal of providing equitable access to decent housing in underserved neighborhoods. Addressing the continued need for housing is key for making a positive impact in this part of our City,” said Houston Mayor Sylvester Turner.
“I’m pleased for the people who live in Coppertree. Everyone deserves a decent place to live. I thank Fairstead for putting in the work to make this happen, and I look forward to working with Fairstead to upkeep these apartments and to foster a cooperation with the surrounding community,” said Council Member Tarsha Jackson.
Fairstead bought Coppertree Village Apartments in September 2021 and immediately started to address the historical issues and needs of the community while it developed the comprehensive renovation strategy.
“Across the country, affordable housing communities are aging and in need of major rehabilitation strategies to sustainably modernize and future-proof them. When Fairstead bought Coppertree Village, we knew there was a lot of work to be done, but we saw the potential to transform it into a vibrant place that people are excited to come home to,” said Allan Izzo, Director, Development, at Fairstead. “Fairstead is grateful to Mayor Turner, the City Council, Berkadia, R4 Capital, and the Houston Housing Finance Corporation, for believing in our vision and supporting the residents of Coppertree as we start to modernize the community and deliver the improvements that residents deserve.”
Financing for the rehabilitation is being provided by Berkadia, R4 Capital, and the Houston Housing Finance Corporation.
“Fairstead’s thoughtful and holistic approach to the renovation at Coppertree Village exemplifies their commitment to providing affordable housing that enhances the lives of residents,” said Matthew Napoleon, Senior Managing Director at Berkadia. “Residents of Coppertree Village will benefit from unit upgrades as well as improvements to the community amenities.”
Senior Managing Director Matt Napoleon and Associate Director Joseph Mandeville of Berkadia Affordable Housing secured the loan. The attractive financing played a significant role in getting this deal closed.
“R4 is proud to have provided the tax credit equity financing for Coppertree Village. Fairstead’s rehabilitation will ensure much-needed safe, quality affordable housing will be made available and remain available to residents for their community to develop and thrive,” said Paul Connolly, Managing Director at R4 Capital.
The renovation will include groundbreaking new kitchens with new cabinets, countertops, and Energy Star appliances; new bathrooms with upgraded plumbing, new fixtures, and vanities; LED lighting and ceiling fans; carpets will be replaced with LVT flooring; and new Energy Star windows and window treatments will be installed. Roofing, siding, and aging staircases and balconies will be replaced.
A new playground and community garden will be installed, and the existing community building will be fully renovated into a combined leasing office and community center with amenities including a computer room, community kitchen, and library. Perimeter fencing and vehicular access control will be upgraded as part of the security improvement strategy.
Fairstead and Council Member Tarsha Jackson, who represents the district including Coppertree Village, are collaborating on additional services and improvements for residents and the community.

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FORT WORTH, TX – Avanta Residential broke ground on a premier build-to-rent community, Avendale at Chisholm Trail Ranch, in Fort Worth, Texas. This project marks Avanta’s second project in the Dallas Metroplex area and its third project in the state of Texas. Avanta hired Brownstone Construction, Ltd. to serve as the General Contractor on the project.
“We’re excited to expand our footprint in the Dallas Metroplex with this recent groundbreaking on Avendale at Chisholm Trail Ranch,” said Robert Kelly, Senior Vice President of Construction at Avanta. “Fort Worth is one of the five fastest growing cities in the U.S. and we are pleased to offer the City’s residents, a high-quality single-family home rental option.”
Avendale at Chisholm Trail Ranch will consist of 247 one-, two-, three- and four-bedroom patio and townhomes. Community amenities will include a resident amenity center which will feature a clubroom with a kitchen, fitness center, yoga lawn, outdoor living room, and a resort style pool. In addition, there will be resident courtyards, lounge areas, dog parks, walking trails, and playgrounds spread out across the community.
It is conveniently located south of downtown Fort Worth. The Shops at Chisholm Trail Ranch, located across Chisolm Trail Parkway, features several national retailers including Ross, Marshalls, Ancient Navy, Ulta, Five Below, Well-known Footwear, Tuesday Morning, Dollar Tree, Bath & Body Works, America’s Best, Aria Nail Bar, Pacific Dental, AT&T, Sprint, The Joint, Fantastic Clips and Sport Clips and many other retailers.
Avanta plans to deliver homes at Avendale at Chisholm Trail Ranch starting in Spring 2024.

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NAPLES, FL – Halstatt Real Estate Partners, a real estate private equity firm, announced the groundbreaking of its latest development, Argos by Soltura. The property is located within five miles of the firm s two other Fort Myers build-for-rent developments, Odyssey by Soltura and Altair by Soltura, which will provide a combined total of 429 units to the MSA. This project represents Halstatt Real Estate Partners third joint venture with Southwest Florida based developer, Soltura Development Group.
“The demand for build-for-rent properties remains strong, and our initial success at Odyssey by Soltura has energized us,” says Steve Iannaccone, principal, Halstatt Real Estate Partners. “In just six months, we achieved 90% occupancy, and tenant interest in this unique rental product has exceeded our expectations despite economic uncertainty. We are addressing worsening housing affordability in Southwest Florida, caused by the current interest rate environment, by offering another highly differentiated rental alternative to the market.
The property will feature 140 units comprised of a mix of one-, two-, and three-bedroom units offered in a clustered, two-tale cottage format. All residences will have private first floor entryways and private fenced, landscaped backyards with patios, which provides, on average, 533 sq. ft. of additional living space per unit. The community will be equipped with state-of-the-art amenities, including a luxury clubhouse that will support a leasing center, fitness center, loungeroom/work area, and mailroom as well as a resort-style pool with cabanas.
The property is situated within close proximity to the intersection of two major arterial roads in Fort Myers, Winkler Avenue and Metro Parkway, and also backs up to the N. Colonial Linear Trail, providing residents direct access to a paved bike trail and community park. In addition, the Fort Myers MSA ranked as the sixth fastest growing area in the US according to a 2022 Census Bureau Report, growing 6.8% between July 2020 and July 2021, giving the partnership further conviction in the Fort Myers market.
Southwest Florida continues to benefit from migration as more residents leave the colder and less tax friendly states, said Danville Leadbetter, cofounder of Soltura Development Group. We are very confident in our development team and partnership s combined ability to bring another differentiated rental project to the market.
Halstatt Real Estate Partners identifies value add and opportunistic real estate projects throughout Florida, the Southeast, and Texas. The company partners with project sponsors to develop and implement a strategic business and capital improvement plot to maximize demand driven development and investment opportunities.
Halstatt published a series of white papers on what is driving demand in the build-for-rent space. Our first in the series, titled Evolution of Rental Housing – The Rise of Build-for-Rent, details the asset class while the second piece, Demographic Shift & Lifestyle Preferences Drive Build-for-Rent Demand, outlines the target end user for build-for-rent.

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