Dominium Acquires Land for 67 Flats and Juniper Square, Plans to Develop 605 Affordable Apartment Homes in Glendale, Arizona

Property News

The affordable housing development marks the first affordable new construction development in the city of Glendale

Dominium, a leading affordable housing owner, developer and manager announced today that it has closed a deal to acquire land for the development of a new community of affordable housing in Glendale, Ariz.

Dominium plans to use the land located at 6504 North 67th Ave. in Glendale to construct 67 Flats and Juniper Square, new high-quality housing communities for low-income families in the state of Arizona. Once completed, 67 Flats will provide 384 high quality homes, and Juniper Square will provide 221 high quality senior homes for the City of Glendale. The project will be constructed by WD Construction.

Construction of 67 Flats and Juniper Square will be supported by the Section 42 Low-Income Housing Tax Credit program (LIHTC). Nationwide, LIHTC is the largest source of support for the construction and maintenance of affordable housing communities. In exchange for tax credits, affordable housing developers and operators agree to maintain rents at levels tied to the Area Median Income (AMI). Construction of LIHTC properties has a positive effect on the local housing market by increasing the supply of affordable housing.

Dominium would like to thank its development partners, especially Barclays for its first-time financing for Dominium, as well as Merchants Capital, Colliers Securities, Polaris Capital, The City of Glendale, the Arizona Department of Housing (ADOH), HOME Partnership Investment, Arizona Industrial Development Authority, Winthrop & Weinstine, McDermott Will & Emery, LLP, Fox Rothschild, Orrik, Ballard Spahr, Gammage & Burnham, Bilsten Consulting, Todd & Associates, Hunter Engineering, Commercial Partners Title, Kutak Rock, and US Bank.