Dominium Acquires Sunrise Pointe with Plans to Preserve the Affordability of the Property and Complete a $9.5 Million Renovation

Sunrise Pointe marks Dominium’s second acquisition in the Deltona-Daytona Beach-Ormand Beach metropolitan area

Dominium, a leading affordable housing developer, owner and manager announced today the acquisition of Sunrise Pointe, a 208-unit multifamily housing community in Port Orange, Florida. This marks the company’s second acquisition in the Deltona-Daytona Beach-Ormand Beach metropolitan area, further expanding its presence along Florida’s east coast.

Originally built in 2001 using 4% Low-Income Housing Tax Credits (LIHTC), Sunrise Pointe will continue to serve residents at 60% of Area Median Income (AMI). Dominium plans to resyndicate the property in the fourth quarter of 2026, preserving its long-term affordability under a new regulatory structure.

The property features 16 garden-style residential buildings, along with a pool, clubhouse and additional resident amenities. Following resyndication, the community will undergo an estimated $9.5 million renovation. Planned improvements include upgrades to building exteriors and unit interiors, enhancements to the clubhouse, outdoor amenity spaces, as well as landscaping and other community-wide improvements.

Nationwide, LIHTC remains the largest source of construction and maintenance of affordable housing communities. In exchange for tax credits, affordable housing developers and managers agree to maintain rents at levels tied to the Area Median Income (AMI), helping expand the supply of high-quality, affordable housing and strengthen local communities.

Dominium extends its appreciation to its development partners, including KeyBank Real Estate Capital, Nelson Mullins, Winthrop & Weinstine, Thompson Hine, Florida Housing Finance Corporation and Stewart Title Company.