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Dominium closes on its second new construction senior living in Georgia

Minneapolis-based developer teams with the Beverly J. Searles Foundation on 238 units of affordable senior housing in DeKalb County.

February 25, 2020 |

MINNEAPOLIS — February 25, 2020 — Dominium, a leading Minneapolis-based apartment owner, developer, and manager, has announced that it will be expanding its portfolio in Georgia with the successful closing of Stonepointe. The affordable senior housing development is Dominium’s second new construction in the state and will be located at 6757 Covington Hwy in Stonecrest, Ga.

Stonepointe is projected to be completed in summer 2021 and will provide 238 units of affordable housing about 20 miles west of Atlanta. The apartment homes and common areas have been designed with seniors in mind, including amenities that are specifically tailored for this demographic.

 “We are excited to begin work on another new construction project in Georgia,” said Mark Sween, Dominium Vice President and Project Partner. “We are proud to be creating new homes for seniors where they can live affordably.”

This new property is being developed with City Stonecrest, McShane Construction, Martin Riley Associates, Butler Snow, Winthrop & Weinstine, First American Title Company, and JV Partner Beverly J. Searles Foundation.

Financial support for the project came from Freddie Mac TEL serviced by Jones Lang LaSalle MultiFamily, LLC, Fifth Third Bank, Stratford Capital Group, Twain Financial, Stonecrest Housing Authority, and the Georgia Department of Community Affairs.

 

DOMINIUM: 30,000 UNITS IN 22 STATES

Founded in 1972, Dominium is a Minneapolis-based owner, developer, and manager of apartment communities nationwide. With more than 30,000 owned and/or managed units at over 200 sites in 22 states, Dominium is known for creative solutions to unique and challenging development projects, and management expertise. As of 2018, Dominium was ranked second largest owner of affordable housing by Affordable Housing Finance; and 28th in 2019 in NMHC 50 Largest Apartment Owners ranking. For more information, visit www.dominiumapartments.com.

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