Fairstead Buys Ruel Hamilton’s Oak Cliff Apartment Complex

Renovation is underway for an aging Oak Cliff apartment complex that was at the center of a bribery case.

New York-based Fairstead purchased the 168-unit Royal Crest Apartments at 3558 Wilhurt Avenue. Fairstead secured a $33 million renovation loan from Capital One, according to county records, amounting to almost $198,000 per unit. Fairstead stated that total rehabilitation costs will be about $24 million, or $142,857 per unit.

The seller is AmeriSouth Realty Group, owned by Ruel Hamilton, a local developer recently acquitted of bribery in a retrial. Hamilton was previously convicted of bribing a Dallas City Council member between 2013 and 2015 to gain support for a renovation of Royal Crest.

The Section 8 subsidized housing development was built in 1969 and hasn’t undergone a substantial renovation in five decades, according to Fairstead. The renovations will include energy efficiency features, a computer lab, a children’s play area and an improved laundry facility. The renovated community center will also offer career training, financial literacy courses and after-school programming for K-12 students.

Fairstead’s portfolio spans 28 states and includes over a thousand units in Texas, but this project is the company’s first Dallas rehabilitation, according to a news release. Renovation began this month and is expected to wrap up in fall of 2026.

More development is expected in West Oak Cliff after the Dallas City Council voted on Wednesday to rezone 35 acres for residential and mixed-use development. Proponents said rezoning will encourage development of vacant lots, but opponents said rezoning could price out current residents.

Another affordable housing development is planned for a West Oak Cliff church site. Generation Partners is demolishing the former Templo de Alabanza church at 4710 West Illinois Avenue to make way for a 22-unit development that will offer services similar to Fairstead’s at Royal Crest, including financial literacy programs and free tax preparation.

Other recent trades in Oak Cliff include 1235 Hartsdale Drive, a 94-unit multifamily property purchased by syndicators Cody Gustafson and Robert Slattery last month.