Constructed around 1905 by its namesake, Frank Fairey, Fairey Terrace was built for speculative interests and represents one of Calgary's earliest examples of row or terraced housing. At the time of its construction, row housing was becoming increasingly popular in Calgary. The city was booming and housing was scarce. Low maintenance was an added attraction for the housing type as it eliminated the "servant problem". Domestics, short in supply during this era, were not required. Occupied in its early days by a cross section of Calgary society, residents included skilled workers and professionals alike.

Popular in style just prior to WWI, the terraced floor plan is a direct translation of British prototypes and very few examples remain in Calgary. The building is a two-storey, parapet walled, red brick terrace structure originally consisting of 12 apartments, each owning a separate entry. Designed in the Jacobethan Revival Motif, Fairey Terrace is flanked on either end with protruding half-turrets, large bay windows on the second floor and carved brick pediments along the roof-top. Additional features include sandstone foundation and trims, corbelled brickwork and elegant two-storey bay windows. The structure is mildly recessed from the sidewalk, a feature demonstrating the functional nature of terraced housing. The building, now designated an Alberta Provincial Historical Resource, was restored in 1999 by Giammarco & Co. and serves as office space for a variety of small businesses.

Frank Fairey, a significant personality in the early development of Victoria Park, took advantage of Macleod Trail's viability as a commercial link with the newly established street car service to Victoria Park to construct the Louise Block in 1910. Named after his wife, the Louise Block, located at 1018 Macleod Trail, serves as a strong point of reference to the community and the newly revitalized Warehouse District.