Dominium Begins Construction of South Range Crossings

Dec 30, 2020 Property News

Dominium, regionally located in Denver, Colorado, is excited to announce the start of construction on its Parker Colorado property

Dominium, a leading Minneapolis-based affordable housing owner, developer and manager, has begun construction on South Range Crossings, its seventh property and fourth new construction project in Colorado.

While Dominium typically celebrates groundbreakings with an event, the company has chosen to forgo this due to the extenuating circumstances with COVID-19.

In lieu of the groundbreaking celebration, Dominium is donating to Help & Hope Center to aid in its COVID-19 relief efforts. The Help & Hope Center aids people in Douglas and Elbert counties who are in serious economic need, at risk of homelessness, or in a similar crisis.

“With so many people sheltering in place, access to a comfortable, quality, affordable home has never been more important,” said Dominium Vice President and Project Partner Ron Mehl. “We are grateful to be in the position to support affordable housing development and look forward to continued growth in Colorado.”

Upon completion in Spring 2022, the $64 million development will provide 204 units of high-quality affordable housing to families in the Parker, Colorado community. Residents will have access to an array of community amenities including a clubhouse, community kitchen, fitness center, yoga center, a swimming pool and hot tub, two playground areas and an outdoor lounge with fire-pits. Residents can also enjoy walking trail connections to E. Creekside Trail with easy access to Cherry Creek Trail.

Developing partners include Douglas County Housing Partners, Bryan Construction Group, PWN Architects, Winthrop & Weinstine, and Commercial Partners Title Company. The financing of this project was made possible with a Freddie Mac Forward Tax-Exempt Loan serviced by KeyBank, a tax-exempt construction loan and taxable equity bridge loan originated and serviced by KeyBank, an equity investment from CREA in the 4% federal low- income housing tax credits.

Dominium also received support from the Colorado Housing Finance Authority for the allocation of the allocation of the federal low-income housing tax credits and issuance of Private Activity Bonds.