Walter J. Hodges, 45, president of CBI Fairmac Corp. died Wednesday at it. Joseph's Hospital in Houstead where be had been undergoing treatlement for cancer.

CBI Fairmac, roal estate development and property management first in Arlingotn, Converted Fairlington Village in Arlington to coodominium units and are the owners of Mclean Gardess in washington.

Mr. Hodges came to Washington in 1953, and joined what was then the Fairmac Corp. He was named vice president of the campany in 1968, and president of the company in 1968, and president in 1978.

The Chicago Bridge and Iron Co. a required. Fairmac in 1972, and M. Hodges continued as president of the subsidiary corporation, CBI Fairmac.

He had belonged to the Washington Board of Trade and was named director of a board task force in 1971 the sought to encourage national associations to relocate in Washington.

He served on the President's National Partnership for Housing in the late 1960s and early 1970s.

He also belong to the Young Presidents Organization and the Washington Board of Realtors.

Mr. Hodges grew up in Ohio and worked for Hotel Corporation of America in Cleveland beofre moving here.

He served in the Navy during the Korean conflict.

He was president of the Trayall Golf and Beach Club at Montege Bay. Jamaica. He belonged to the Army Navy. Congressional, and Burning Tree country clubs.

He is survived by his wife, Margaret L., a son, Walter, Jr., and a daughter, Laurie Lee, all of the home in Alington; his parents, Mr. and Mrs. James M. Hodges, and a sister, Mrs, J. Gilbert Reese, of Newark, Ohio, and Mrs. Roseoe Price, of Falls Church.

The family suggests that expressions of sympathy be in the form of contibutions to the Stehlin Cancer Research Foundation at St. Joseph's Hospital, Houston.