HOUSTON – A big splash of sunshine is coming to Houston’s Sunnyside apartment complex and it’s not just the Texas heat.
In a move that has affordable housing advocates cheering, Fairstead, a national real estate company, has teamed up with R4 Capital and the Houston Housing Finance Corporation (HHFC) to invest $20 million in renovating Sunflower Terrace Apartments, a 160-unit community spread across seven acres just south of downtown Houston.
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Here’s the deal: The revamped Sunflower Terrace complex at 5050 Sunflower Street will continue to offer affordable homes under a project-based Section 8 contract, with rents set for families earning 50% or 60% of the Area Median Income (AMI).
“Our investment in Sunflower Terrace reflects our dedication to the Houston community,” said Allan Izzo, Senior Director of Development at Fairstead. “This effort allows us to create meaningful local impact while continuing to advance our mission of preserving and expanding access to affordable housing across the country.”
So, what’s changing?
Originally built in 1971, Sunflower Terrace is getting a makeover. The $20 million renovation will cover common areas, unit interiors, building exteriors, mechanical systems, and site infrastructure — all designed to boost building efficiency and enhance residents’ quality of life.
Inside the homes, upgrades include brand new kitchens with updated appliances, countertops, and cabinets. Bathrooms will receive new fixtures and faucets, improved lighting and electrical work, and more.
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Construction at the Sunflower Terrace in summer 2025, with completion projected for August 2026. Fairstead will serve as developer and property manager, overseeing the project to ensure quality and care for the community.
A growing footprint in Houston
Sunflower Terrace is Fairstead’s third property in Houston, joining Copper tree Village and Yale Village apartments, which have received over $40 million in combined improvements since 2022. With this new addition, Fairstead’s Houston portfolio will grow to over 1,000 units by the end of 2025.
