Dominium Celebrates the Successful Closing on Brighton Oaks

Property News

The Minneapolis developer announced plans to add 154 units of affordable housing to the Twin Cities metro

Dominium, a leading Minneapolis-based apartment owner, developer and manager announced today that it will be adding to its portfolio of Minnesota apartments with the successful closing on its new construction, 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.

“We are excited about the opportunity to develop new affordable housing in New Brighton,” said Dominium Vice President and Project Partner Owen Metz.  “The 154 high-quality affordable homes we are creating with Brighton Oaks will provide value to the community for years to come.”

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% Federal Low-Income Housing Tax Credits from WNC & Associates.

A groundbreaking celebration for Brighton Oaks will be determined at a later date.