New Affordable Senior Living Apartments Are Coming to Palmetto

Aug 27, 2019 In the Community

Dominium, a Minneapolis-based company, owns River Trace, 2710 River Trace Circle, in Bradenton. However, the Palmetto project is slated to be similar to a facility that recently opened on 14th Street West in Bradenton.

The five-story “u-shaped” senior apartment building will have 225 units, a pool, courtyard and recreational area, along with age and income restrictions, according to the proposal to the city of Palmetto. The age restriction will be limited to a head of household aged 62 or older. Every apartment will be affordable housing for those who make at or below 60 percent of the area median income. Monthly rent will be between $800 and $1,100 depending on the number of bedrooms.

There will be one-, two- and three-bedroom units in the five-story building coming to the 6.28-acre property.

The age restriction was selected because developers will be seeking a property tax exemption that requires it.

In the larger apartments, the third bedroom will have some style differences from the others including French doors and different light fixtures, Dominium’s Devon Quist noted.

The independent living apartment complex will be built in part of the city that already has a nursing home and an assisted living facility.

The site was initially slated for a project known as the Riviera Walk West. Plans were approved for the same site in 2016, but they never came to fruition. The approvals expired, making way for Dominimum Senior Living.