Dominium Plans Affordable Complex for Seniors, Families
Minneapolis-based Dominium says it will develop two affordable housing projects in Minnetonka, MN. To be located across the street from a planned light rail station, the Legends of Minnetonka and Preserve at Shady Oak will be the largest ever affordable housing development in this Twin Cities suburb.
It will be built on the former campus of Digi International, an Internet of Things provider which recently sold the property and will relocate its headquarters to Hopkins, MN.
“This project is one of the largest in the state of Minnesota, and will provide much-needed affordable housing for families and seniors,” said Dominium VP Ryan Lunderby.
The Legends of Minnetonka will comprise 262 units of affordable, independent senior living, while Preserve at Shady Oak will represent 220 units of affordable housing for individuals and families. The city of Minnetonka provided $8 million in tax increment financing.
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