A developer of affordable housing from Minnesota, Dominium, is planning to build 388 apartment units in New Port Richey in Pasco County.
This community of apartments will be called Anchor at Gulf Harbors and will be on Jackstay Road. Only families with low incomes will be able to rent the units. WD Construction will be building the apartment complex and will preserve more than eight acres of natural wetland habitat in Florida.
Support for the project will come from the Section 42 Low-Income Housing Tax Credit (LIHTC) program. This program is the largest source of support for the maintenance and construction of communities of affordable housing. Through this program, those operators and developers of affordable housing units agree to maintain rents at levels tied to the median income in an area in exchange for tax credit. The building of properties through the LIHTC program has had positive effects on local housing markets by increasing the supply of affordable housing in an area.
Brochure printing can be used to provide more details on such apartments and their features and amenities once they are available.
Dominium was founded in 1972 and manages over 38,000 apartment complexes in 19 states, with 25 such communities in Florida. Dominium purchased the property for $2.1 million in May 2021. There is currently no timeline for construction of the apartment units.
