Dominium Announces the Land Closing for New Affordable Senior Housing Development in Orlando

Property News

Sandpiper Glen is the developer’s fourth new construction project in Florida

Dominium, a leading affordable housing owner, developer and manager, announced today the closing of the land sale to construct Sandpiper Glen, a new senior housing development located off Donnybrook Drive in Orange County, Florida. The development is Dominium’s fourth new construction project in the state and will be the developer’s 10th property in the Orlando area.

Once constructed Sandpiper Glen will offer 288 high-quality, affordable homes for seniors in the Orlando metropolitan area. Residents will enjoy access to amenities including a fitness center, salon, craft room and a two-story clubroom. The property will also contain a dog park and two outdoor areas featuring a pool, cabanas, grilling areas, a bocce ball court and general use greenspace.

The project was financed using a Freddie Mac TEL serviced by Grandbridge and tax-exempt and taxable construction loans originated and serviced by Bank of America, who also provided the equity investment in the 4% low-income housing tax credits. In addition, Dominium received support from the Florida Housing Finance Corporation (FHFC) in obtaining 4% Low Income Housing Tax Credits, and from the Orange County Housing Finance Authority in allocating tax-exempt bonds.

Development partners include Orange County, Weis Builders, Dominium Construction & Architectural Services, Bessolo Design Group, Kimley Horn, Nelson Mullins, Winthrop & Weinstine, RBC Capital Markets, Lowndes and Commercial Partners Title.

Dominium is grateful for these partners who made it possible to close this transaction and to all who will be involved in this important project in the future.