Dominium Development and Acquisition rehabilitates Tralee Terrace Apartments

Plymouth, Minn. January, 2011 — Dominium Development and Acquisition, LLC, is pleased to announce the completion of its rehabilitation work on Tralee Terrace, a 68-unit complex providing affordable housing in Coon Rapids, Minn. The project began in June of this year and was just recently completed.

Originally built in 1994 and acquired by Dominium shortly thereafter, Tralee Terrace underwent significant improvements to both the interior and exterior of the property. This includes a newly renovated community room with new cabinets, countertops, furniture, carpet and paint; modernized living quarters with new cabinet hardware, countertops and bathroom vanity tops; and parking lot and landscaping improvements. Additionally, new unit entry doors were added to each unit, along with new hallway carpet, interior signage and light fixtures for the entire property.

“The planned renovations have dramatically improved the look and feel of Tralee Terrace, and it’s nice to see this extensive rehabilitation finished so successfully” said Armand Brachman, Principal, Dominium Development and Acquisition. “We wanted to upgrade this property to meet the changing needs of today’s renters, and our residents are very happy with the improvements that have been made.”

With the help of the Minnesota Housing Finance Agency, Anoka County, Stratford Capital Group, Dougherty & Company and Wells Fargo, Dominium re-syndicated the project, using tax credit equity, HOME funds, and a first mortgage funded through the sale of tax exempt bonds to complete needed renovations at the property.