Dakota Partners Celebrates Major Project Milestones for Woodland Cove
WAREHAM, MA – Dakota Partners recently celebrated two major milestones for its new affordable housing community, Woodland Cove, located in Wareham, MA. The project team secured all financing and approvals and closed on Phases 1 and 3. In addition, state and federal financing was awarded for Phase 2. Financing for this project has been secured through a combination of State and Federal low-income housing tax credits (LIHTC), soft debt financing from the Department of Housing and Community Development (DHCD), and workforce and first mortgage debt from MassHousing. Construction of Phase I began this fall.
Located on a busy commercial strip near the Bourne Bridge, Woodland Cove will be comprised of five buildings that will be built in three phases. The first and second phases will consist of 63 units each, and the third phase will add 24 more units. Woodland Cove’s 150 total units will be made up of 27 one-bedrooms, 106 two-bedrooms and 17 three-bedrooms. Phase 3 of this project will also include the construction of a community building, which will feature a fitness center, community room, patio, lobby, package room, storage room, four offices, two restrooms, and a maintenance room.
According to Development Director, Muammar Hermanstyne, all of the buildings will be constructed using Passive House design principles and each individual unit will contain Energy Star appliances to ensure high-energy efficiency year round. There are several benefits that residents will enjoy from living in a Passive House community, including savings in monthly utility bills from reduced energy use, high indoor air quality due to excellent ventilation, and a sound-proof home from air tightness and super insulation. An early adopter, Dakota is one of the nation’s most active Passive House developers of affordable housing with close to a dozen projects currently under construction or in development.
As a real estate developer and builder, Dakota Partners develops affordable, workforce and market-rate housing communities across New England, New York and the mid-Atlantic states. According to Affordable Housing Finance, Dakota is a the 40th largest affordable housing developer in the United States. At the heart of every project is Dakota’s mission to create housing that matters to residents, the community and the environment.