The nation’s largest for-profit developer of affordable housing plans to expand its Orlando portfolio with two more projects in Osceola County, including one next to the Crossprairie master-planned community.
The two projects from Dominium would add 624 rent-restricted apartments for families in Osceola earning no more than 60% of the Area Median Income. The company utilizes Florida’s 4% Low Income Housing Tax Credits, in combination with bonds and equity and bridge loans to finance its projects.
Osceola County Commissioners recently authorized tax-exempt bonds totaling $154 million for two new projects. The larger of the two is a 420-unit family community on Clay Whaley Road just west of the Cross Prairie Parkway. Dominium is under contract for 25 acres in the mixed-use district and has applied for annexation into St. Cloud. The site is about a block from the future K-8 school in Crossprairie.
The Osceola BOCC approved a $105 million bond package for the project, which would be the first affordable housing community in the East of Lake Toho mixed-use district.
Glen Daniels, a development associate with Dominium, told GrowthSpotter the company chose the location because it offered a strong combination of market fundamentals and community potential. It will also help alleviate the city’s shortage of quality affordable housing.
“The Orlando MSA continues to experience high growth, with land costs and income levels that support the feasibility of a 4% tax credit new construction project,” Daniels said. “Specifically, in the East Lake Toho mixed-use district, our site is located less than half a mile from the planned Urban Center—a future hub for office, retail, and community activity. That proximity presents an exciting opportunity for our future residents to live within walking distance of jobs, services, and amenities.”
Daniels said Dominium is targeting mid-2026 to close on the property. The project would likely be constructed over two or three phases, with the first deliveries in 20 months and completion in late 2028.
The BOCC also approved a $49 million bond package for a 204-unit family housing community on Yates Road, one block north of Dominium’s Heron Ridge senior housing. Both communities are across the street from Shingle Creek Regional Park. Sandwiched between the two is Rosewood Pointe, a 192-unit affordable workforce housing community developed by Banyan Development Group.
Development Associate Jake Trammell said the Yates Road project will serve as a natural and strategic complement to Heron Ridge. It’s also slated for completion in late 2028.
“Together, these communities will help create a balanced, inclusive residential ecosystem that supports residents across all stages of life,” he said. “By diversifying our housing portfolio within the same neighborhood, we strengthen community cohesion and meet a broader spectrum of housing needs—all while maintaining walkable connectivity and consistent design quality.”
Both of the family housing communities will be designed as 3-story walk-up garden apartments and will offer a mix of two-, three- and four-bedroom floorplans. A typical family community from Dominium includes amenities such as grill/picnic areas, clubhouse, pool, and fitness center.
Dominium is currently building Maison at Solivita Marketplace, its third affordable housing community in Osceola County. The family community will add 396 apartments just south of its existing Osprey Park senior housing community. The Maison was Dominium’s first construction project to utilize Multifamily Mortgage Revenue Bonds issued by the Florida Housing Finance Corp., which comprised $30 million of the capital stack.
The company plans side-by-side senior and family housing communities on Goodman Road in the ChampionsGate-Reunion submarket.
The Minneapolis-based company is now the nation’s second-largest apartment developer, according to the National Multifamily Housing Council. Dominium jumped 13 spots in the rankings this year, just behind Greystar, based on its 5,763 units started in 2024. The developer also has completed projects in Orange County and is currently building side-by-side senior and workforce communities with a combined 480 units in Apopka.
Dominium’s efforts to expand into Lake County hit a snag last month when county commissioners there rejected a bond measure for a 300-unit project on Lake Saunders. Tavares City Manager John Drury said the City Council annexed the property on Old U.S. Highway 441 and rezoned it for multifamily development after the previous developer agreed to a condition that it would contain only market-rate housing.
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