388 affordable housing units coming to Pasco

Dominium, a Minnesota affordable housing developer, is planning to build 388 units in Pasco County.

The apartment community will be at 5430 Jackstay Road in New Port Richey. It will be called Anchor at Gulf Harbors and be reserved for low income families.

A timeline for construction and details of the unit mix were not immediately available.

According to statement from Dominium, the community will be “supported” by the Section 42 Low-Income Housing Tax Credit program. The national program backs the construction and maintenance of affordable housing communities with tax credits. In exchange, developers and operators have to keep rental rates tied to the Area Median Income.

Pasco County records show that Dominium, through a limited liability partnership, bought the property in May 2021, paying $2.1 million.

A spokesperson for the developer says it only recently finished the financing and permitting.

Dominium, according to its website and the statement, was founded in 1972 and currently manages more than 38,000 apartments in 19 states. In all, it has 230 communities with 25 in Florida. Of those, there are one each in Bradenton, Palmetto, Port Charlotte, Port Richey, Fort Myers, Cape Coral, Punta Gorda and Naples.