By The Real Deal – May 17, 2024
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 committed to addressing this crisis by creating more housing opportunities for residents across all income levels in South Florida.
“We are looking to see how we can make market-rate deals work with Live Local and serve that ‘missing middle,” Pinnacle partner Coraly Rodriguez said, especially as “it is becoming more competitive and more difficult to procure local subsidies.”
