Dominium Acquires Land for Anchor at Gulf Harbors, Plans to Develop 388 Affordable Apartment Homes in New Port Richey, Florida

The affordable housing development marks developer’s first ever new construction development within the Tampa metropolitan statistical area

Dominium, a leading affordable housing owner, developer, and manager announced today that it has closed a deal to acquire land for the development of Anchor of Gulf Harbors, a new community of affordable housing in New Port Richey, Florida. 

Dominium plans to use the land located at 5430 Jackstay Road in New Port Richey to construct Anchor at Gulf Harbors for low-income families in the state of Florida. Once completed, Anchor at Gulf Harbors will provide 388 new high-quality apartment homes. The project will be constructed by WD Construction and was designed with preservation, placemaking and thoughtfulness by preserving more than eight acres of natural Florida wetland habitat.

Construction of Anchor at Gulf Harbors will be supported by the Section 42 Low-Income Housing Tax Credit program (LIHTC). Nationwide, LIHTC is the largest source of support for the construction and maintenance of affordable housing communities. In exchange for tax credits, affordable housing developers and operators agree to maintain rents at levels tied to the Area Median Income (AMI). Construction of LIHTC properties has a positive effect on the local housing market by increasing the supply of affordable housing.

Dominium would like to thank its development partners, including Freddie Mac, Grandbridge Real Estate Capital LLC, Truist, Deutsche Bank, Truist Community Capital, Florida Housing Finance Corporation, Pasco County Housing Finance Authority, The City of New Port Richey, RBC Capital Markets, Babara L. Wilhite P.A., Stearns Weaver Weissler Alhadeff & Sitterson, P.A., Winthrop & Weinstine, Seltzer Management Group, Inc., Bessolo Design Group, Inc., Bohler Engineering, Commercial Partners Title, and U.S. Bank Trust Company.