Riviera Beach adds 110 units of affordable housing with opening of Berkeley Landing
By Palm Beach Post – August 21, 2024 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 […]
Borrower View: Pinnacle Housing sees Financing Gaps Widen for Affordable Deals
By PERE Credit – August 19, 2024 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 […]
Berkeley Landing, a new 112-unit affordable housing complex, opens
By CBS 12 News WPEC – August 10, 2024 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 […]
Workforce housing options on horizon
By The News Press – August 5, 2024 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 […]
Pinnacle Secures $49.9 Million Construction Financing for Affordable Housing Development in Miami-Dade County, Florida
By Multi Family and Affordable Housing Business – June 17, 2024 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 […]
Pinnacle lands $50M construction loan for 120-unit apartment building near Cutler Bay, as affordable housing financing keeps flowing
By Commercial Observer – June 13, 2024 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 […]
Pinnacle Raises $50M to Build Workforce Housing Development
By Commercial Observer – June 13, 2024 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 […]
Miami-Dade affordable housing project nabs $50 million construction loan
By South Florida Business Journal – June 13, 2024 The South Florida Business Journal reports that Pinnacle has secured a $50 million construction loan for our five-story, 120-unit Old Cutler Village Phase 2, an affordable housing development in Miami-Dade County. Old Cutler Village Phase 2 will offer one- to three-bedroom apartments for households earning 30 […]
Live Local changes could propel workforce housing boom in South Florida
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 […]
They held a housing lottery. Then 21,000 raced to enter, showing ‘very scary’ demand for homes.
By Sun Sentinel – April 12, 2024 The Sun Sentinel reports how Pinnacle was overwhelmed with demand when offering for 113 affordable rental apartments in Hollywood, with rents from $1,100 to $1,500 per month based on income limits. A staggering 21,000 people applied for the units during a 10-day registration period, highlighting the severe affordable […]
