Dominium, a Minneapolis-based apartment owner, developer and manager, announced today that it will be addingll add to its portfolio of Minnesota apartments with the successful closing on its new construction development, Brighton Oaks, located in New Brighton, Minnesota.
The soon-to-be-built community will provide 154 units of affordable family housing to Ramsey County. Development partners for the project include the City of New Brighton, Dominium Construction, BKV Group, Loucks, Winthrop & Weinstine, P.A., Dougherty & Company LLC and Commercial Partners Title, LLC.
Brighton Oaks will include a club room with a kitchen, a fitness room, an indoor children’s play area, an outdoor park and an outside patio with grilling stations and communal spaces.
The project was made possible by a Freddie Mac Forward Tax Exempt Loan serviced by Citi, a taxable supplemental loan and a construction loan provided by Citibank, an equity bridge loan provided by Alliance Bank and an equity investment in the 4 percent Federal Low-Income Housing Tax Credits from WNC & Associates.
A ground-breaking celebration for Brighton Oaks will be determined at a later date.
