Dominium Acquires Laurel Ridge Apartments

Minnesota developer expands Georgia portfolio with East Point affordable housing community

Dominium, a Minneapolis-based leading apartment development and management company, announced today that it has acquired the property formerly known as Laurel Ridge Apartments, a 276-unit affordable housing community in East Point, Ga.  The property has been renamed Leyland Pointe Apartments.

Dominium is planning to complete a renovation of the property, which will take place later this year. Unit improvements will include replacing carpet and vinyl flooring, as well as countertops and appliances when needed. The clubhouse will be renovated, and on the lower level, a larger fitness and exercise room will be constructed. The kids room will be renovated to feature children’s leisure activities, and new televisions will be placed throughout the lower level. Amenities already provided within the community that will be updated include a laundry room, business center/computer lounge, and a common space with a commercial kitchen.

The exterior will undergo significant improvements including updating and refinishing the playground and barbecue grilling stations. The fenced-in pool will be re-plastered and the water line tile will be replaced. The grounds will be landscaped and repairs and updates will be made to the exterior lighting, fencing, gates, and security system. In addition, the building exteriors will be repainted and parking lot repaired and seal coated.

“Leyland Pointe Apartments is a great opportunity for Dominium to expand its growing presence in Georgia,” said Dominium development associate, Shaun Reinhardt. “The acquisition and upcoming renovations will help to preserve affordable housing in the East Point-area for years to come.”

Leyland Pointe Apartments was built in 2005. Dominium acquired the property on March 15th.

Website: www.leylandpointeapartments.com

Click to read article in Multi-Housing News