Seniors will soon have access to more affordable housing in Palmetto.
A project referred to in city documents as Dominimum Senior Living was approved Monday for the west side of Haben Boulevard just south of U.S. 301, across from Manatee School for the Arts.
Dominium, a Minneapolis-based company, owns River Trace, 2710 River Trace Circle, in Bradenton. However, the Palmetto project is slated to be similar to a facility that recently opened on 14th Street West in Bradenton.
The five-story “u-shaped” senior apartment building will have 225 units, a pool, courtyard and recreational area, along with age and income restrictions, according to the proposal to the city of Palmetto. The age restriction will be limited to a head of household aged 62 or older. Every apartment will be affordable housing for those who make at or below 60 percent of the area median income. Monthly rent will be between $800 and $1,100 depending on the number of bedrooms.
There will be one-, two- and three-bedroom units in the five-story building coming to the 6.28-acre property.
The age restriction was selected because developers will be seeking a property tax exemption that requires it.
In the larger apartments, the third bedroom will have some style differences from the others including French doors and different light fixtures, Dominium’s Devon Quist noted.
The independent living apartment complex will be built in part of the city that already has a nursing home and an assisted living facility.
The site was initially slated for a project known as the Riviera Walk West. Plans were approved for the same site in 2016, but they never came to fruition. The approvals expired, making way for Dominimum Senior Living.
During the presentation to city commissioners Monday, developers acknowledged concerns commissioners and the city’s Planning and Zoning board expressed about the number of parking spaces. Developers agreed to a total 257 spaces while presenting evidence that those living in similar types of apartment complexes often had more parking than they needed.
“We’re going to be a little more stubborn than we’d like to be because of how marginal the economics of the projects are overall. It’s a very small site so we really had to push density to get the project to work,” Quist said.
The affordable senior living apartments project was approved by commissioners in a 4-1 vote.
Commissioner Brian Williams cast the lone dissenting vote, due to concerns over whether there would be enough parking.
The project, according to Quist, will use non-competitive funding through available federal resources.