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Dominium Purchases $3M LIHTC Site in Charlotte for Affordable Development
MN-based affordable housing developer Dominium has completed the $3-million purchase of an 8.83-acre affordable housing development site on 7800 Creekridge Road in Charlotte, NC.
The site is adjacent to McAlpine Creek Park and sits within a Qualified Census Tract, which allows the project to qualify for tax exempt bonds through the State of North Carolina. The site is zoned and entitled for up to 150 garden-style apartments units.
Eric Liebich and Ron Corrao of Capstone Land Sales closed the deal and sourced the buyer.
“This project is a great example of how the development community continues to focus on helping meet the affordable housing needs of local Charlotte residents,” said Liebich.
The development site is surrounded by dining and retail options and has easy access to major roadways in Charlotte. Additionally, it is situated in the path of the future LYNX Silver Line light rail and US-74 expansion projects.
The development site also benefits from proximity to the burgeoning east Charlotte suburb of Matthews.
- ◦Sale/Acquisition
- ◦Development
- ◦Financing
