Located in the low- to moderate-income Columbia Heights neighborhood on Fairmont St., the Fairmont Complex was developed in 1920 and is in dire need of significant upgrades. Including the remodeling the entire acquisition deal will cost nearly $30 million. "We are committed to housing families affordably, and Fairmont I and II Apartments is a wonderful example of how the HFA can work with the city's housing professionals to renovate apartments and still maintain their affordability," says HFA executive director Milton J. Bailey. "In 2003, we will remain committed to improving the condition of the city's rental housing stock and preserving housing units for low- and moderate-income families."