Dominium Celebrates Grand Opening of The Bluffs at Liberty Glen

Dominium, a Minneapolis-based leading affordable housing owner, developer and manager, announced today that it will celebrate the grand opening of The Bluffs at Liberty Glen, a 180-unit affordable housing community consisting of one 144-unit apartment building and 36 townhomes. The new development sits atop a large wooded bluff overlooking the Mississippi River valley with access to acres of pristine prairie and woodlands that border the river. Video of the grand opening will be available following the event.

Dominium closed on the acquisition and financing of The Bluffs at Liberty Glen on October 2018 with construction completed in December 2019. Within the four-story apartment building, there are one, two and three-bedroom layouts; while the townhomes are three- and four-bedroom homes with detached garages.

Residents of The Bluffs at Liberty Glen can enjoy access to an array of amenities including two separate playground areas, outdoor patio with grilling area and river valley views, outdoor pool, fitness center, game room, community room, storage lockers and walking trails along the river.

“This innovative housing model is a fantastic way to address the need for affordable housing in St. Cloud,” said Nick Andersen, Vice President and Project Partner at Dominium. “We look forward to virtually celebrating the grand opening of The Bluffs at Liberty Glen and showcasing the development’s value to the once undeveloped site.”

The new property, and its construction financing, was financed with an issuance of tax-exempt bonds, 4% Low Income Housing Tax Credits and a first mortgage from Cedar Rapids Bank & Trust. MinnWest Bank provided an equity bridge loan to the project and WNC provided the LIHTC equity investment through the purchase of the tax credits.

Dominium is grateful for these and many other partners; this project will provide quality housing to the residents of St. Cloud and bring life to a previously undeveloped site.