The Race Face Chester crankset should be good-to-go choice for a single chainring installation on your bike ...
You just need to use EITHER BMX chainring bolts OR mount a chainwheel "guard" (typically, but certainly not always, with a Single Speed on a MTB-or-frame-with-135mm-rear-wheel, the chainring is mounted on the inner shoulder of the crank's spider which uses 104BCD chainrings [it's due to the greater offset engineered into the spider than on a "Road" crank's spider]).
BTW. Your frame probably isn't too weak, but "real" Downhill bikes are FULL SUSPENSION with a lot of travel (much more travel than you would find on a typical MTB's suspension), front & rear ...
- that is, "Downhill" is generally a fairly specialized classification ...
As far as a better fork, I recommend Marzocchi ... their strength is the source of their weakness -- they began as a manufacturer of motorcycle forks (which they still make), so I think that their MTB forks can (¿still?) be considered to be de-tuned motorcycle forks (well, THAT has been MY thinking) & they are consequently a little more robust (i.e., heavier) relative to comparable forks from other manufacturers [OR, maybe they just never cared about the weight of their products!!!] ...
In the now-distant-past (so, presumably the same may be true, now), for reasons which have never been clear to me, Manitou forks could not be rebuilt to spec (according to those how have tried) ...
Rock Shox is owned by SRAM, so THAT is a reason to avoid them despite the quality of the product, IMO ...
FOX & other brands are all probably very good, but 'I' don't know about their long term viability (re-build-ability).
Depending on the situation, I think that you might actually want to consider a 29er suspension fork ... although it will probably cost more, it will result in a slacker head tube angle which could be BETTER for descending (depends on how shallow/steep the inclines are) AND it will give you the future compatibility with larger wheels/tires (if THOSE are in your future) ... and, a slacker head tube angle will probably not be (but, no guarantees) an uncomfortable angle for your daily pavement riding.
BUT, you may want to wait until you know that your bike's current fork is unsatisfactory before replacing it ...
- it bottoms out too easily
- it is too bouncy
- et cetera
Expect to pay MORE THAN $250 MSRP for a reasonably good suspension fork (more like $400+, MSRP ... buy last year's model to save some money ... check MTBREVIEWS.COM) ... when in doubt, don't cut the steerer too short [leave an extra (?) inch] because you can always move it to another frame, later and you never know what the head tube length may be ...