This Isn't the Fairwood Homes Your Grandparents Knew
If you've heard the name Fairwood Homes and started searching for a traditional street of older single-family houses, I want to save you some time: that neighborhood, as it existed for most of the 20th century, isn't there anymore. Fairwood Homes was built in the early 1940s as temporary housing for shipyard workers and their families during World War II, and by the late 1990s the city of Portsmouth had purchased and demolished most of it, phasing out roughly 1,000 units of aging wartime housing along Victory Boulevard to make way for redevelopment.
That history matters for buyers today because it explains why you won't find MLS listings labeled 'Fairwood Homes' the way you would for Highland Biltmore or Hodges Manor. What's grown up in its place along the Victory Boulevard corridor is a mix of retail, the Rivers Casino Portsmouth entertainment district, and newer residential development, most notably the Woodland Park townhome community. If you're house hunting in this part of central Portsmouth, this guide walks through what's actually here now, how it fits into the surrounding city, and what to think about before you buy.
I'm including this area in my neighborhood guides because I still get calls from buyers who remember the old name or who found a listing near Victory Boulevard and want context. My job is to give you the real picture, not a nostalgic one, so you can make a clear-eyed decision about whether this corridor fits what you're looking for.
A lot of buyers who reach out about this area found the name through an old address, a family story, or a listing site that still uses legacy neighborhood boundaries. I'd rather tell you upfront how the area has changed than let you tour expecting a neighborhood that closed out decades ago.
From Wartime Housing to a Planned Redevelopment
Fairwood Homes went up quickly during World War II to house the flood of workers pouring into Norfolk Naval Shipyard and other war industries. Like a lot of temporary wartime housing across Hampton Roads, it aged hard over the following decades, and by the 1990s the city and a private ownership group had agreed on a phased plan to buy out the roughly 1,000 remaining families and clear the site for a mixed-use commerce park along Victory Boulevard.
That redevelopment, sometimes referred to locally as Victory Village, has unfolded over more than two decades and in phases, which is typical for a project this size. The result today is a corridor anchored by retail centers, the Rivers Casino Portsmouth complex, and pockets of newer residential construction rather than a single cohesive subdivision. If you're the type of buyer who wants deep neighborhood history and mature tree canopy, this probably isn't your area. If you want new construction, low-maintenance living, and quick access to entertainment and shopping, it might be worth a closer look.
One detail worth knowing if you're curious about the history: the Fairwood Homes buyout drew real community debate at the time, with some longtime neighbors of the development supporting its removal and others raising questions about where displaced families would go. I mention this not to relitigate old news, but because it explains why the area feels more like a modern commercial and residential redevelopment than an organically grown neighborhood.
What's Actually For Sale Here Today: Woodland Park and Nearby Construction
The most relevant option for buyers right now is Woodland Park, a townhome community built on roughly 30 acres near Bide-A-Wee Golf Course and the Rivers Casino, with about 192 townhomes planned across two phases. These are newer builds, many completed in the past few years, with three-story floor plans, attached garages, and small HOA-maintained common areas rather than large private yards.
Because this is recent construction, you're generally not dealing with the inspection surprises that come with a 1940s or 1950s home, things like knob-and-tube wiring, older roofs, or failing crawl spaces. What you are dealing with is an HOA, since townhome communities like this typically carry monthly dues that cover things like playgrounds and common-area landscaping. Always get the HOA documents and budget before you write an offer, and ask your lender how the HOA fee factors into your debt-to-income ratio.
Beyond Woodland Park, watch this corridor for additional new development, since the city has continued marketing surplus land near Victory Boulevard for redevelopment. If new construction near the casino district appeals to you, it's worth checking in periodically for newly platted communities.
It's also worth understanding the site itself: Woodland Park sits on about 30 acres, with roughly 14 acres developed into 192 townhomes and the remaining acreage left as forested buffer land. That buffer can be a nice amenity if your unit backs up to it, so ask specifically about lot placement when you're touring.
Everyday Life Along the Victory Boulevard Corridor
Victory Boulevard itself has become one of Portsmouth's busier retail and entertainment strips. You've got shopping centers with grocery, discount and everyday retail tenants, along with the Rivers Casino Portsmouth entertainment complex, which has brought restaurants, events and foot traffic to the corridor in recent years. Tidewater Community College's Portsmouth campus sits close by as well, which is part of why this area draws a mix of students, casino and hospitality workers, and shipyard employees looking for a short commute.
This is a drive-first part of Portsmouth. Sidewalks and walkability are limited compared to older grid neighborhoods like South Norfolk in Chesapeake, so if daily walking to shops and parks matters to you, factor that into your decision. What you gain instead is convenience: quick trips to big-box retail, casino dining, and the interstate.
Because this corridor has grown around retail and entertainment rather than a traditional town center, plan on driving to most errands, though the concentration of stores along Victory Boulevard does mean fewer separate trips than in more spread-out parts of the city.
Commutes: I-264, the Shipyard and Downtown Norfolk
This corridor sits right off I-264, which is one of the most direct ways in and out of central Portsmouth. From here you can reach Norfolk Naval Shipyard, downtown Portsmouth, and the Downtown and Midtown Tunnels into Norfolk in a fairly short drive outside of peak congestion. That combination of quick shipyard access and interstate frontage is a big part of why this area continues to attract military and shipyard households.
If you're relocating for the shipyard, a nearby base, or a new job downtown, I always recommend driving your actual commute at the time of day you'd really make it before writing an offer. My relocating page and PCS/military page cover how I help buyers moving from out of town or coming off orders navigate an unfamiliar city.
Beyond the shipyard and downtown Norfolk, this location also gives reasonably quick access to Naval Medical Center Portsmouth and other installations across the water, which is another reason it draws military households looking to minimize their daily drive.
Flood Zones and Low-Lying Land
Like much of central Portsmouth, this area sits at low elevation not far from the Elizabeth River's tidal branches, so flood zone status is something to verify property by property rather than assume. Some parcels along Victory Boulevard and its side streets sit in FEMA-mapped flood zones, others don't, and redevelopment projects like Woodland Park typically account for stormwater management as part of their site design, but that doesn't eliminate the need to check.
I pull the FEMA flood map for the specific address before we write an offer, and for newer construction I also ask about the site's grading and stormwater plan. If a home turns out to be in a mapped flood zone and you're financing it, your lender will require flood insurance, so run that into your monthly numbers using my mortgage calculator before you get attached to a home.
During due diligence, I also ask sellers directly about any past water intrusion or insurance claims, since a seller's disclosure won't always volunteer that information unless you ask the right questions.
HOAs and Newer-Community Considerations
If you buy in Woodland Park or a similar newer community here, expect a homeowners association with monthly dues and a set of governing documents you'll want your agent and attorney to review before closing. HOA dues typically cover shared amenities like playgrounds and common-area maintenance, and they can change over time, so ask about the community's reserve fund and any planned special assessments.
Because these are newer builds, also ask whether the home is still under a builder warranty and what's covered. A one-year builder warranty is standard on new construction in Virginia, and knowing what's already covered can save you money on your own home warranty decision at closing.
Ask specifically whether the HOA has any pending litigation, upcoming capital projects, or a history of special assessments, since these are the kinds of details that don't always show up in the sales brochure but matter a lot once you own there.
Schools Serving This Part of Portsmouth
Because this area sits at the edge of several Portsmouth Public Schools attendance zones, the elementary, middle and high school assigned to a specific address here can vary block by block. I always confirm zoning directly with Portsmouth Public Schools for any address you're considering rather than assume based on a neighboring subdivision. For a broader look at how I evaluate schools for buyers across the city, see my Portsmouth schools guide for Fairwood Homes.
Financing a Home in a Newer Community
Financing new construction or a recently built townhome works a little differently than financing an older resale. If you're buying pre-completion, your lender will want a signed purchase agreement with the builder and may require a rate lock strategy that accounts for the build timeline. If you're buying a completed or resale townhome in Woodland Park, a conventional loan is usually the most common path, though VA and FHA financing can both work well here given the number of military-connected buyers in Portsmouth.
My guides on VA loans in Hampton Roads, FHA loans for first-time buyers and conventional loans explained break down how each option works. Whichever program you use, make sure your lender has quoted you an HOA-inclusive payment so there are no surprises at closing.
Writing a Competitive Offer Near the Casino District
New construction and recently built townhomes in an active redevelopment corridor can move quickly, especially when a builder releases a new phase or a well-located resale hits the market. I watch this corridor closely for new listings and upcoming phases so my buyers aren't caught off guard.
Because inventory here can be limited to a single community at a time, I encourage buyers to get fully underwritten before shopping, not just pre-qualified, so we can move fast when the right unit comes up. If you're weighing this area against a more traditional Portsmouth neighborhood, I'm happy to walk you through the trade-offs between new construction here and an older home in a neighborhood like Highland Biltmore or Hodges Manor.
