Grand Central Flats is the development of a vacant land site in Columbia Heights, MN. Dominium worked closely with the City of Columbia Heights and closed on the site acquisition in December of 2017 to complete the envisioned development. Consisting of 1,2, and 3-bedroom layouts, Grand Central Flats provides 148 units of workforce housing apartments to residents who income-qualify, earning no more than 60% of the Area Median Income. Due to the use of tax exempt bonds as a portion of financing, rents are restricted at 60% AMI for 100% of the 148 apartments. The building was constructed to compliment the adjacent condominium, Grand Central Lofts, to complete the Grand Central Neighborhood vision. It was designed to be transit oriented, and includes a fitness center, indoor and outdoor playgrounds, clubroom with kitchen, dog park, and grilling stations.
The total development cost was $36,748, 447, and the completion date is set for spring 2019.
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