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Dominium Given Okay for 250-Unit Georgetown Affordable Housing Project
The Georgetown City Council narrowly okayed a measure allowing Dominium Housing and Development LLC to construct a 250-unit affordable housing development near Hwy. 195 in Georgetown.
The resolution allows Dominium to apply for a 4% tax credit to build an apartment complex in town.
Dominium’s Northside Village will include a mix of two-, three- and four-bedroom units meant to serve residents who make no more than 60% of the area median income. For one individual, the area median income in Georgetown is $46,380 a year. For a family of four, the AMI is $66,180.
Through a partnership with Capital Area Housing Corporation, the property will be tax exempt. As a way to contribute back to the community, the developer pledged to make annual payments directly to the city, Williamson County and Georgetown ISD, in lieu of taxes.
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