Dominium to Preserve the Affordability Status of Newly Acquired Sweetwater Terraces and Complete a $9.9 Million Renovation

Acquisition strengthens Dominium's presence in the Atlanta metro

Dominium, a leading national affordable housing developer, owner and manager announced today the acquisition of Sweetwater Terraces, a 165-unit senior housing community located in Duluth, Georgia. The acquisition marks Dominium’s sixth community in Gwinnett County and further strengthens the company’s footprint in the Atlanta metropolitan area.

Dominium plans to resyndicate the property in Q4 2026, preserving the property’s affordability status under a new long-term structure. As part of the resyndication, Sweetwater Terraces will undergo an estimated $9.9 million renovation, including updates to roofing, siding, unit interiors, the clubhouse, amenity spaces and other community enhancements. The property currently features a four-story residential building and amenities including a community garden, fitness center, salon and shuffleboard courts.

Originally developed in 2008 using the 4% Low-Income Housing Tax Credit (LIHTC) program and tax-exempt bond financing, the property was at risk of losing its affordable housing status. Through this acquisition, Dominium will preserve the community’s long-term affordability and maintain access to quality housing for seniors in the area.

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 would like to thank its development partners, including Merchants Capital, Winthrop & Weinstine, the Georgia Department of Community Affairs and Stewart Title Company.