Dominium Acquires Cypress Gardens

Minnesota developer expands Florida portfolio with Winter Haven housing community.

Dominium, a Minneapolis-based leading apartment development and management company, announced today that it has acquired the property formerly known as Cypress Gardens, a 278-unit housing community in Winter Haven, FL.  The property has been renamed Della Vita Apartments.

Della Vita Apartments will rent at market-rate, and will satisfy a growing need in the area for non-luxury, market-rate housing.

Dominium is planning to complete a renovation of the property, which will take place later this year. Unit improvements will include adding washers and dryers to all units, upgrading countertops and improving kitchen cabinets.

The exterior will undergo significant renovations including improving the clubhouse, installing energy efficient exterior lighting, and landscaping the land around the residences. Della Vita is set on 23.57 acres.

“Della Vita Apartments is a great opportunity for Dominium to expand its growing presence in Florida in a new market that shows promising signs of growth,” said Dominium development associate, Michael Hudson. “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 qualify for affordable housing.”

Della Vita Apartments was built in 1990. Dominium acquired the property on April 10th.

Website: www.dellavitaapartments.com

Click to read article in Multi-Housing News