It’s been a long-time in the works but Minneapolis-based Dominium is finally pushing out a refined Development Plan for its Colonial Greens age-restricted affordable housing community near the University of Central Florida.
Partnering with the multifamily developer is the nonprofit affordable housing real estate organization The Partnership Inc., which specializes in acquiring and managing affordable, multifamily properties that provide housing to very low, low, and moderate-income families.
Dominium and TPI are seeking to develop a 288-unit senior living community on about 10 acres just off the interchange with the Central Florida Greeneway (S.R. 417) and Colonial Drive (S.R. 50).
Plans call for a four-story multifamily complex that will feature a large pool deck, a dog park and an active courtyard area. Other features listed in plans include a walking trail, bicycle parking, cabanas by the pool, a gathering garden, parking garages and a bocce ball court.
Dominium initially put the land under contract in 2019 and began the permitting process. The latest plans are the results of several modifications made to the developer’s original proposal, which sought to build a more L-shaped complex with up to 346 units and an aesthetic rooftop that would have pushed the maximum height of the building up to 53 feet. Earlier this summer, Orange County’s Board of Commissioners denied a request by the applicant to raise the height beyond 47 feet.
Units will be a mix of 151 one-bedroom apartments, 105 two-bedrooms apartments and 32 three-bedroom apartments.
The modified Colonial Greens DP is on the Orange County’s Development Review Committee’s consent agenda this week.
Representatives with Dominim were not immediately available to respond to questions. In a previous article, development associate Devon Quist told GrowthSpotter the company often goes after non-competitive Low Income Housing Tax Credits to help fund rent-restricted projects. Its development partner, TPI is also known to apply to the LIHTC program.
According to its website, TPI is active throughout Florida and Georgia and specializes in acquiring troubled affordable housing communities with the intention to improve living standards.
Dominium, based in Minneapolis, is a leading developer and operator of affordable housing, but it only recently started planning projects in Central Florida.
The developer has at least three different communities in the works in Osceola County, including two senior housing projects across from the Solivita retirement community and up to 330 units of affordable senior housing next door to Vineland Landings.
Its first new-build community in Florida was in Palmetto.
Orange County’s Housing Trust Fund is another source of finance developers are tapping into for new affordable housing developments.
Just recently, Banyan Development Group was awarded $5 million by Orange County to go toward its 156-unit Barnett Villas affordable apartment community. Developer Alexander Kiss said they expect to start construction sometime before mid-2022.
Access to affordable housing has been difficult in the Orlando area, so much so Orange County’s Mayor Jerry Demings created a 38-member Housing For All Task Force to address the region’s scarcity of affordable housing for low-wage workers, in an attempt to help lift Orlando from the bottom of rankings by the National Low Income Housing Coalition.
The task force hopes to add 11,000 new affordable housing units to Orange County within the next 10 years.