Pinnacle Secures $72M In Financing For Affordable Housing In Miami-Dade County
The residential community will cater to residents earning up to 60% of the area’s median income.
The residential community will cater to residents earning up to 60% of the area’s median income.
The Miami-based developer is building the five-story project on a 2.1-acre property at 13800 NW 22nd Ave.
With Togal.AI’s award-winning technology, Coastal Construction teams cut nearly 14,000 hours of work, saving close to $1 million in their first year using it.
The development property consists of office, multifamily and retail elements.
A study predicts 45% to 50% increases in Florida, including in inland areas — and a doubling of premiums won’t be out of the question.
The assembly – consisting of three parcels located at 1120, 1130 and 1136 SW 3rd Avenue in Miami – were purchased for a total acquisition price of $8,500,000.
The 17,500-square-foot site will be developed into a high-end boutique condominium.
The property is entitled for the development of 301 residential units, 244,000 square feet of office, and just over 7,000 square feet of retail.
The project will consist of approximately 509 luxury rental apartments, 275,000 square feet of Class A office space, 25,000 square feet of ground-floor retail space, a 20,000-square-foot open-air retail plaza, and a parking garage.
Designed to provide a single-family home experience, the residences range from 3,300 to nearly 13,000 square feet and offer in-unit elevator access and a private parking garage with each unit.
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