Dominium Continues Expansion into North Carolina, Announces New Affordable Senior Housing Community in Clayton

Dominium acquires land for Pritchard Woods with plans to develop 167 high-quality affordable homes for seniors in the Raleigh metro

Dominium, a leading national affordable housing owner, developer and manager, announced today that it has closed on the acquisition of land for a new senior affordable housing community in Clayton, North Carolina. Located at the southwest corner of Pritchard Road and Swann Trail, this marks Dominium’s first-ever new construction development in the Raleigh metropolitan area.

Once completed, Pritchard Woods will feature 167 high-quality, affordable one- and two-bedroom apartment homes designed to serve seniors. Residents will enjoy access to a fitness center, library, computer center, theater room, bocce ball court, gazebo and community spaces. Each apartment will include in-unit washer and dryer hookups, stainless steel appliances, movable kitchen islands, balconies/patios, walk-in closets, luxury vinyl plank flooring and spacious living areas and bathrooms.

The development is made possible through the Section 42 Low-Income Housing Tax Credit (LIHTC) program, the largest source of support nationwide for the construction and maintenance of affordable housing communities. In exchange for tax credits, developers and operators maintain rents at levels tied to the Area Median Income (AMI). LIHTC projects also positively impact local housing markets by increasing the supply of housing.

Dominium extends its gratitude to its development partners, including Freddie Mac, Grandbridge, Deutsche Bank, Colliers, Glenwood State Bank, Truist, North Carolina Finance Authority, Town of Clayton, Winthrop & Weinstine, Weis Builders, Martin Riley and Associates, the Searles Foundation and Commercial Partners Title for their continued commitment to providing high-quality affordable housing, and ongoing partnership with Dominium.