Columbia, South Carolina – Dominium has just launched its inaugural affordable housing project in South Carolina, named Haven at Congaree Pointe. This new 198-unit community for seniors is located in Columbia, S.C. The opening event took place with a ribbon-cutting on Tuesday, May 28. The development is a collaboration that will last at least 15 years, involving Bible Way Church of Atlas Road, which owns the 60-acre site where the project is based. Several partners were involved, including the SC Housing Development team, Midlands Community Development Corp., and Winthrop & Weinstine, among others.
The total cost to develop Haven at Congaree Pointe was $63.9 million. Funding for the project included two construction loans from U.S. Bank, based on Yardi Matrix data, totaling $25.3 million and $29.2 million. These loans are scheduled to be repaid by 2025, with the first one carrying a 3 percent fixed interest rate.
Additionally, the Columbia Housing Authority issued bonds worth $28.9 million with a 2.25 percent interest rate, due for repayment in 2043. The project also benefited from significant funding through federal and state low-income housing tax credits, which provided $20.8 million and $20.1 million, respectively. Professional services were supplied by Kimley-Horn and Associates for civil engineering, Martin Riley Associates-Architects for design, and WD Construction managed the general construction duties.
Haven at Congaree Pointe is designed for seniors who are 55 years old or older and earn no more than 60 percent of the area’s median income. This community consists of a four-story building. In 2021, Dominium successfully applied for a zoning change to allow the building to be 55.5 feet tall, making it easier for residents to get to elevators and facilities without walking too far.
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The complex offers one and two-bedroom apartments, which vary in size from 760 to 1,099 square feet. These apartments come equipped with walk-in closets, energy-saving appliances, and electronic access systems. Residents can enjoy several amenities, including a gym, a club room with a library, and a courtyard that features a beautifully landscaped walking path and areas for grilling.
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Located at 2401 Atlas Road, the community is conveniently placed just 2 miles from Interstate 77 and over 6 miles southeast of downtown Columbia. It is easily accessible with two bus stops nearby and several shopping options within a short walk.
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