Dominium Announces the Closing of the Land Sale for New Affordable Housing Development in DeKalb County

Property News

The Meridian will be the developer’s 10th new affordable housing development in Georgia

Dominium, a leading national affordable housing owner, developer and manager, announced today the closing of the land sale for its 10th new affordable housing development in the state of Georgia. Located in unincorporated DeKalb County, The Meridian will provide 217 affordable apartment homes to the Atlanta metropolitan area.

Development Partners for The Meridian include Winthrop & Weinstine, Kutak Rock, Commercial Partners Title, Colliers Securities, Kimley Horn, and Martin Riley Associates. The $68 million development will be built by WD Construction, LLC.

Financing for The Meridian includes tax-exempt and taxable construction loans from KeyBank, a Freddie Mac forward tax-exempt loan serviced by KeyBank, and investments in the federal low-income housing tax credits and state low-income housing tax credits by Polaris Capital Investments and Monarch Private Capital, respectively. The Georgia Department of Community Affairs assisted with the allocation of low-income housing tax credits, and the Housing Authority of the County of DeKalb issued tax-exempt private activity bonds for the development.

Dominium is grateful for these partners who share Dominium’s vision of providing high-quality affordable housing. Without their help this project would not be possible.