AUSTIN, Texas – December 5, 2024 – Associated Bank, as Lead Arranger and Administrative Agent, announced completion of a $60,472,000 construction loan for Dominium, a national developer, owner and manager of affordable housing. The high quality, 324-unit affordable housing project, Emblem at Tower, will be located at 12100 Tower Road in Manor, a suburb of Austin, Texas. Associated Bank was joined by Great Southern Bank in the construction loan syndication.
The 4-percent LIHTC project will be available to residents with incomes that do not exceed 60 percent of the area median income. The complex will consist of 11 three-story buildings with a mix of two-, three- and four-bedroom units. Features will include a separate clubhouse with fitness center, pool and outdoor amenity space. A unique feature will be the availability of a free 15-hour per week tutoring service tailored to resident needs. Completion is slated for early 2027.
Dominium brings together development, construction, finance and property management expertise to provide communities with successful, long-term housing outcomes and residents with stable homes. They currently own and manage more than 40,000 apartment homes at more than 220 properties across the U.S.
“We are thrilled to provide construction financing for another affordable Dominium project in Texas. The Emblem at Tower apartments will contribute high quality workforce housing for the growing Austin suburb of Manor,” said Randy Stille, a senior vice president with Associated Bank’s Commercial Real Estate Division, who originated and managed the loan.
“We appreciate Associated Bank’s partnership and collaboration in financing this beautiful new community,” said Neal M. Route, Dominium vice president and project partner. “Our organizations have a long-standing relationship based on our shared mission to address the affordable housing crisis in communities like Austin, and across both Texas and the U.S.”
Associated Bank’s Commercial Real Estate division is committed to providing commercial real estate developers/owners/operators with an array of financing solutions, in addition to products and services that meet their unique needs. The division has offices in Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio, Texas and Wisconsin.
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ABOUT ASSOCIATED BANC-CORP
Associated Banc-Corp (NYSE: ASB) has total assets of $42 billion and is the largest bank holding
company based in Wisconsin. Headquartered in Green Bay, Wisconsin, Associated is a leading
Midwest banking franchise, offering a full range of financial products and services from nearly 200 banking locations serving more than 100 communities throughout Wisconsin, Illinois and Minnesota. The company also operates loan production offices in Indiana, Michigan, Missouri, New York, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.