Dominium, a leading national affordable housing owner, developer, and manager, announced the acquisition of land in Holiday, Florida with plans to construct a new affordable housing community. Located at 2638 Aquaview Lane, Cobia Cove will be Dominium’s second new construction development within the Tampa metropolitan area.
Residents of Cobia Cove will enjoy access to modern amenities, including a clubhouse, fitness center, swimming pool, playground and outdoor recreation spaces. The project, designed by Bessolo Group and Bohler Engineering, will be constructed by WD Construction and delivered in two phases over 31 months.
The development is made possible through 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, including Deutsche Bank, PNC, Freddie Mac, Pasco County Housing Finance Authority, Florida Housing Finance Corporate, Pasco County, Winthrop & Weinstine, Barbara L. Wilhite P.A., Seltzer Management Group, US Bank, Commercial Partners title, Bryant Miller Olive P.A., RBC Capital Markets, Nelson Mullins, Kutak Rock, and Braun Intertec Corporation.
