Fairview Renovation

Project Details

10 Apartments Above Street Level Retail - Long Term Hold

2300 Fairview Ave E

Currently home to the iconic Pete's Market. This project was purchased from the family who built the building and is intended to be a long term 47 North Development hold.

  • Full building renovation including plumbing and electrical upgrades
  • Exterior cosmetic building upgrades


Project Goals

  • Acquire building with adjacent Fairview townhouse development site
  • Renovate mixed-use building to support long term permanent financing
  • Deliver short and long-term gains through capital events and investment distribution

Key Investment Highlights

  • Ability to greatly increase revenue due to conversion of select oversized units from 1 to 2-bedroom
  • Unique synergy with 47 North's Fairview Shores project down the street
  • Multi-exit project with build/sell component that allows return of significant investor capital while retaining income producing asset

By The Numbers

Acquired - 2017

Built/Renovated - 1965/2019

Lot - 11,042 SF

Zoning - LR2-RC

Building - 15,592 SF

Interesting Project Fact

George, the current owner of Pete's Market, has been a tenant in the building since 1974.


Developer: 47 North

Architect: SHW

Contractor: 47 North

Design: 47 North

Features of Fairview Renovation