Befitting its South Beach locale, Federation Towers is a stylish UFAS-accessible high-rise with the kinds of gorgeous bay views that are often out of reach for members of certain socioeconomic demographics. Yet, because Fairstead’s acquisition of this senior community in 2019 included an extension of its Section 8 status, these apartments will remain affordable to this age demographic for at least 40 more years.
Fairstead invested $36.7M to update the studios and one-bedroom apartments and common spaces of Federation Towers. The sweeping in-unit modernization included the installation of energy-efficient appliances, weather-resistant glass windows, electronic thermostats, and HVAC upgrades. Public-area updates touched the community room, library, and fitness center.
In an effort to further enrich the lives of its residents, Fairstead’s social services team oversees programs to assist in a range of issues: education, home-care, food insecurity, health, and employment. The on-site team also schedules engaging and stimulating community-building events.