Dominium Acquires Chelsea Park Apartments

Dominium, a Minneapolis-based leading apartment development and management company, announced today that it has acquired the property formerly known as Chelsea Park Apartments, a 120-unit community in Orlando, Fla. The property has been renamed to Bellancia Apartments.

The property is located near Chapel Trace, another affordable housing property owned by Dominium. Bellancia Apartments will rent at market-rate, satisfying a growing need in the area for non-luxury, market-rate housing.

Dominium is doing a complete renovation of the property which is currently in progress and will be completed in June of this year.  Unit improvements will include upgrades to the countertops, flooring, plumbing fixtures and light fixtures. Most units will receive new stainless steel appliances, and all the units will be provided with washers and dryers.

The exterior will undergo significant improvements including a new dog park, new grilling areas, expanded fitness center with new equipment, landscaping improvements and new pool furniture. The clubhouse and the leasing center are also being renovated and refurnished.

“Bellancia Apartments is in a great neighborhood with a growing population in need of multifamily housing,” said Dominium development associate, Ryan Williams. “It is next to another property Dominium owns and we believe that through our planned renovations, it will provide an opportunity for residents to move into market-rate units once they have achieved a higher income and no longer need affordable housing.”

Bellancia Apartments was built in 1987. Dominium acquired the property in February.

Website: www.bellanciaapartments.com

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