Bisnow reports on the opening of Pinnacle at Tropical Pointe, Pinnacle’s newest affordable housing community located at 25155 SW 136th Avenue in South Miami-Dade County. The development adds 215 garden-style apartments across six buildings, offering one- to four-bedroom units for residents earning up to 60% of the area median income (AMI).
The community features a pool, fitness center, business hub, and playground. As part of Pinnacle’s Art in Public Places initiative, a mural by Venezuelan artist Gabriela Benatar was also installed to enhance the public space with local culture.
The project was financed through a $37 million construction loan and $30.6 million in tax credit equity from Bank of America, a $20 million loan from Citibank, and $1 million from Miami-Dade County’s Development Inflation Adjustment Fund to help offset rising construction costs.
