By Growthspotter – December 4, 2023
Pinnacle and Birdsong Housing Partners have closed on $33.9 million in financing, Growthspotter reports. After acquiring the land for a forthcoming 96-unit affordable housing community two years ago, Pinnacle has initiated construction on the community adjacent to Kissimmee’s Shingle Creek Regional Trail. In December 2021, the developer purchased the 6-acre site for $1.86 million after successfully securing competitive 9% Low Income Housing Tax Credits from the Florida Housing Finance Corp. Pinnacle partner Tim Wheat highlighted some details of the complex, which will consist of 12 one-bedroom units, 60 two-bedroom units and 24 three-bedroom units.
“These are 3-story, garden apartments with hard surface flooring, European style cabinets, energy efficient — they will be Green Building certified,” Tim said.
