Pinnacle is commencing the construction of its affordable housing project, Pinnacle at La Cabaña, in Miramar. The $41.2 million development aims to provide essential quality affordable housing to seniors amid rising housing costs. Comprising 110 units, Pinnacle at La Cabaña will offer one- and two-bedroom apartments, with amenities designed for aging residents. The project is on track for completion in 2025.
The groundbreaking ceremony is scheduled for April 10th, 2024, at 10:30 a.m. ET at the development site, located at 8911 Miramar Parkway. The community and elected officials are invited to join the celebration.
Pinnacle at La Cabaña. Credit: Pinnacle.
“This event signifies a significant achievement for our team, and we look forward to commemorating this key phase in realizing Pinnacle at La Cabaña,” said Coraly Rodriguez, Partner at Pinnacle. “The ceremony demonstrates the impact of public-private partnerships in tackling the housing crisis.”
The creation of Pinnacle at La Cabaña is a strategic Public-Private Partnership (P3) initiative between Pinnacle and the City of Miramar. The city’s collaboration with Pinnacle is part of its commitment to providing accessible quality affordable housing for seniors, with the location ideally situated across from the city’s adult daycare center.
Pinnacle at La Cabaña will allocate 11 units for seniors earning 28 percent of the area median income, with the rest available to those earning 60 percent.
“Affordable housing is vital for seniors facing increased living costs,” said Timothy P. Wheat, Partner at Pinnacle. “Pinnacle at La Cabaña is a testament to our dedication to enhancing the lives of Miramar’s senior community by providing a safe and supportive living space. We are grateful for the foresight and guidance of our partners, as constructing affordable housing is truly a collaborative effort.”
The funding for Pinnacle at La Cabaña includes contributions from Bank of America, Neighborhood Lending Partners, Florida Housing Finance Corp., the City of Miramar, and the United Way of Broward County through its Housing United initiative (funded by Mackenzie Scott).
A 2021 study by United Way highlighted that 43 percent of households aged 65 and over in Broward County, totaling 203,457 households—with 105,781 in the greater Miramar/Pembroke Pines area—are burdened by housing costs.
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How do I get on a waiting list for , this new place. I’m very refreshed, I live in this area now,but gonna need a new place….please let me know. Thank you.
i am interested in affordable housing how to apply
How to go on the list for Seniors, I am struggling with rent increase on a fixed income,my entire SS check goes to rent