Berkeley Landing, a new 112-unit affordable housing complex, opens
CBS 12 reports that Berkeley Landing, a newly developed affordable housing community in Riviera Beach, has officially opened. Developed in partnership with Wendover Housing Partners, the community offers 112 units, including 110 affordable apartments for residents earning 30-80% of the Area Median Income, as well as two market-rate live/work spaces. Berkeley Landing is a key […]
Workforce housing options on horizon
News Press reports on Pinnacle’s partnership with The Housing Authority of the City of Fort Myers on Summerlin Landings, a proposed 149-unit apartment complex in Fort Myers. Summerlin Landings will offer 80% affordable units in a convenient location for tourism industry workers and include amenities such as a fitness center, dog park, and clubhouse, supporting […]
Pinnacle Secures $49.9 Million Construction Financing for Affordable Housing Development in Miami-Dade County, Florida
Multifamily and Affordable Housing Business reports that Pinnacle has secured $49.9 million in construction financing for the second phase of Old Cutler Village, an affordable housing development in southern Miami-Dade County. The project will create a five-story building with 120 units, offering a mix of one-, two-, and three-bedroom apartments for families earning 30%, 60%, […]
Pinnacle lands $50M construction loan for 120-unit apartment building near Cutler Bay, as affordable housing financing keeps flowing
Pinnacle secured $50 million in financing for Old Cutler Village Phase 2, a workforce housing expansion project near Cutler Bay, Florida. The new five-story building will add 120 units to the existing Old Cutler Village Apartments complex. Located at 10455 Old Cutler Road in unincorporated Miami-Dade County, the site spans 22 acres and is just […]
Pinnacle Raises $50M to Build Workforce Housing Development
Pinnacle secured $50 million in financing for Old Cutler Village Phase 2, a workforce housing expansion project near Cutler Bay, Florida. The new five-story building will add 120 units to the existing Old Cutler Village Apartments complex. Located at 10455 Old Cutler Road in unincorporated Miami-Dade County, the site spans 22 acres and is just […]
Miami-Dade affordable housing project nabs $50 million construction loan
The South Florida Business Journal reports that Pinnacle has secured a $50 million construction loan for our five-story, 120-unit Old Cutler Village Phase 2, an affordable housing development in Miami-Dade County. Old Cutler Village Phase 2 will offer one- to three-bedroom apartments for households earning 30 percent, 60 percent, and 70 percent of the area […]
Live Local changes could propel workforce housing boom in South Florida
The Real Deal reports on the Live Local Act and housing in South Florida, highlighting the substantial response Pinnacle received to the lottery for its Pinnacle 441 development, which received over 20,000 applications for just 113 units. This staggering number of applicants underscores the critical shortage of affordable housing options in the region. Pinnacle is […]
They held a housing lottery. Then 21,000 raced to enter, showing ‘very scary’ demand for homes.
The Sun Sentinel reports how Pinnacle was overwhelmed with demand when offering for 113 affordable rental apartments in Hollywood, with rents from $1,100 to $1,500 per month based on income limits. A staggering 21,000 people applied for the units during a 10-day registration period, highlighting the severe affordable housing crisis in the region. To fairly […]
Groundbreaking Event Marks Milestone For ‘Pinnacle At La Cabaña’, An Affordable Senior Housing Development At 8911 Miramar Parkway In Miramar
Florida YIMBY reports that Pinnacle is commencing construction on Pinnacle at La Cabaña, a $41.2 million affordable rental development in Miramar providing 110 units for seniors. Funded through public-private partnerships, it will offer one- and two-bedroom apartments, with 11 units for very low-income seniors and the rest for those earning 60% of area median income. […]
Nearly 20,000 people register to live at 113-unit Hollywood affordable housing complex
Miami Herald reports that Pinnacle 441, a $93 million affordable housing development in Hollywood, received nearly 20,000 applications in just one week for its lottery to fill 113 units in the first phase. This astounding response underscores the critical shortage of affordable housing in South Florida. “We’re at a crisis level, perhaps the likes of […]
