Dominium Buys Site for Florida Affordable Project
The project is the developer’s first in this major market.
Dominium has acquired a 27.7-acre site for Anchor at Gulf Harbors, an upcoming 388-unit affordable community in New Port Richey, Fla.
WD Construction is the general contractor. The developer will support the project with the Section 42 Low-Income Housing Tax Credit program.
Plans call for a five-story building. Shared amenities will include a pool and deck area and an outdoor kitchen area with a firepit. Furthermore, designs include the preservation of more than 8 acres of natural wetland habitat.
The development site is at 5430 Jackstay Road, on the east side of Sea Forest Drive. Downtown Tampa is some 40 miles southeast. The Southgate shopping center is less than 2 miles away, near Highway 19, along which most retail options and restaurants are located.
In May, Dominium also completed its first project in South Carolina. It opened Haven at Congaree Point in Columbia, S.C. Development costs for the 198-unit senior housing asset totaled $64 million. Last month, it also expanded its Western footprint with the acquisition of two properties encompassing 468 units.
Although Anchor at Gulf Harbors is Dominium’s first Tampa construction, the company is eyeing another, 228-unit community, also in New Port Richey—currently in the permitting stages. It also owns another, 200-unit fully affordable asset in the city, which it acquired in 2015, according to Yardi Matrix data.
