Osceola County loans developer $4.5 million for affordable housing project
The Orlando Sentinel reports that, in an effort to increase the availability of affordable housing within the county, Osceola County commissioners have sanctioned a $4.5 million loan to developer Pinnacle for their community, Pinnacle at the Wesleyan. Its 96 units will be priced at or below 80% of the area’s median income for a duration […]
Pinnacle scores $33.9 million in financing for long awaited affordable housing in Kissimmee
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 […]
Borrower View: Pinnacle Housing sees Financing Gaps Widen for Affordable Deals
Pinnacle Partner Coraly Rodriguez recently spoke with PERE Credit’s Samantha Rowan about the affordable housing market. The demand for affordable housing is overwhelming, as seen in our recent South Florida community Pinnacle 441, where we received 21,000 applicants for just 113 units. At Pinnacle, we’re committed to collaborating with policymakers and leveraging our strong partnerships […]
2024 Structures Awards: Best Affordable Residential Project
Pinnacle community Pinnacle 441 has been awarded a South Florida Business Journal’s Structure Award for Best Affordable Residential Project. This recognition highlights Pinnacle 441’s role in not only addressing housing needs but also setting a new standard for affordable housing and urban revitalization. The community’s popularity is evident from the overwhelming response it received, with […]
Riviera Beach adds 110 units of affordable housing with opening of Berkeley Landing
Palm Beach Post 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 […]
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 […]
