Dominium Announces the Land Closing of Harbor at Twin Lakes

Property News

The housing developer recently closed on the sister property to Oasis at Twin Lakes

Dominium, a leading affordable housing owner, developer and manager, announced today the successful closing of Harbor at Twin Lakes, located at 2730 Hershel Street in Roseville, Minn.

The new development will complete Dominium’s commitment to the Twin Lakes Station redevelopment, which includes Harbor of Twin Lakes’ sister property Oasis at Twin Lakes—an apartment community constructed in July 2020. The total development cost for the project is $72 million.

“Dominium is excited to be adding this new development to its roster of Roseville-area properties. Harbor at Twin Lakes will provide much-needed affordable housing in this rapidly growing market,” said Dominium Vice President and Project Partner Ryan Lunderby.

Financing partners for the project include a Freddie Mac Forward Tax Exempt and Taxable Loans serviced by Greystone; construction loans provided by Huntington National Bank and Associated Bank Metropolitan Council, the Department of Employment and Economic Development (DEED); and an equity investment in the 4% federal tax credits from Polaris Capital. This is Dominium’s first transaction acting as the syndicator to the tax credits.

Development partners include the City of Roseville, Dominium Construction and Architectural Services, Eagle Building Company, BKV Group, Loucks, Braun Intertec, Winthrop & Weinstine, Colliers International and Commercial Partners Title.

Dominium is grateful to all who will assist in the construction and operation of Harbor at Twin Lakes and looks forward to providing quality affordable housing in the Roseville area.