Pinnacle has started work on its affordable housing development, Pinnacle at La Cabaña, in Miramar. The $41.2 million development will provide affordable housing for seniors in the Miami metro area. Pinnacle at La Cabaña consists of 110 units with one- and two-bedroom apartments with amenities tailored to aging residents. Construction is scheduled for completion in 2025. The construction site is located at 8911 Miramar Parkway 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.
Pinnacle at La Cabaña will offer 11 units to seniors earning 28 percent of the area median income, and the remaining units will be available to seniors earning 60 percent of the area median income. The development site is situated across from the city’s adult daycare facility.
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