Minnesota firm buys Victory Crossing apartments, plans renovation

A Minnesota company called Dominium said Tuesday it has purchased Victory Crossing, a Columbus apartment complex at 3390 North Lumpkin Road, with plans to upgrade the “affordable housing community” in the coming weeks.

Dominium, based in the Minneapolis suburb of Plymouth, did not release the purchase price or other financial details. The property was built in 2004.

Renovation of Victory Crossing and its 172 units should be completed by April of this year, the company said. There will be “light” upgrades of the apartments, it said, including new washers and dryers. Some units will get new paint, flooring, appliances and fixtures if they are needed.

Work on the common areas will be more “substantial,” Dominium said, with plans for a new fitness center and improvements to the clubhouse to include new fixtures, equipment and furnishings. The swimming pool also will be restored so that residents can use it, the company said, while security equipment and cameras will be replaced.

“The improvements planned for this property will provide a much-needed affordable housing option in the Columbus area for years to come,” Dominium development associates Devon Quist said in a statement.

The company, founded 45 years ago, develops, owns and manages in 23 states across the nation. It oversees more than 200 locations and 25,000 units. Dominium’s website says it owns more than $2.2 billion in properties, with it aiming to be “the country’s preeminent private developer, owner, and property manager of affordable housing” by the year 2025.

This story was originally published February 7, 2017 at 4:50 PM with the headline "Minnesota firm buys Victory Crossing apartments, plans renovation."