By Florida Yimby – December 19, 2023
Pinnacle has secured over $40 million in financing for their 110-unit community, Pinnacle at La Cabaña, in Miramar. It secured a $33.3 million construction loan to make the project possible. $22 million came from Bank of America, $4.3 million from the Live Local Act, $5.6 million from Neighborhood Lending Partners, and $750,000 from the United Way of Broward County.
The project features one and two-bedroom apartments with senior-focused amenities, offering affordable rents, including units for those with incomes as low as 28% of the area median income. Groundbreaking for Pinnacle at La Cabaña is imminent, aiming for completion by mid-2025.
