Dominium Announces the Closing of Woodway Square

Property News

The housing developer recently celebrated its sixth development in Austin, Texas

Dominium, a leading affordable housing owner, developer and manager, announced today the closing of Woodway Square located in Austin, Texas. The development, which was originally built in 2003 using 4% low-income housing tax credits, contains 240 apartment homes and will expand Dominium’s existing portfolio in the Austin metropolitan area.

The Woodway Square resyndication, with financing provided by Key Bank, will include an approximately $7.7 million rehabilitation of the property beginning in 2022. Renovations will include an updated clubhouse, new site amenities and the enhancement of unit interiors.

“Woodway Square will be a great addition to our housing goals across Texas as we continue to seek opportunities to support communities,” said Dominium Vice President & Project Partner Ryan Lunderby. “With this development, we look forward to continuing our mission to bring much-needed affordable housing to Austin.”

Development partners for this project include Key Bank, Stewart Title and Winthrop & Weinstine. Dominium is grateful for these partners who made it possible to close this transaction and others who will be involved in the project moving forward.