Construction Tops Out On 8-Story Caribbean Isles Affordable Senior Housing Development In South Miami Heights

Construction has topped out on Caribbean Isles, an eight-story, 142-unit affordable senior housing development at 19755 SW 110th Court in South Miami Heights, Miami-Dade County. Co-developed by Pinnacle and South Miami Heights Community Development Corporation, the project is designed by Behar Font & Partners and is rising on county-owned land near Caribbean Boulevard and U.S. 1. PC Building, Pinnacle’s in-house construction division, is serving as general contractor.

Caribbean Isles is designed for residents ages 62 and older and will contain 90 one-bedroom and 52 two-bedroom apartments reserved for households earning up to 60 percent of the Area Median Income.

Credit: Pinnacle

“Affordable senior housing is one of the most pressing challenges facing South Florida today,” said David O. Deutch, Co-Founder and President of Pinnacle. “Caribbean Isles is about creating a place where seniors can live safely, comfortably, and affordably without having to leave the communities they’ve called home for years. Reaching this milestone brings us one step closer to making that vision a reality.”

The $68 million development is positioned adjacent to Miami-Dade County’s South Dade Bus Rapid Transit Corridor, providing residents with access to public transportation along the U.S. 1 corridor. The development represents the second phase of a larger transit-oriented affordable senior housing community in South Miami Heights.

The first phase, Caribbean Village, delivered 123 affordable senior apartments and was completed in 2019. Caribbean Isles expands the development with another 142 residences on the neighboring site.

Financing for Caribbean Isles includes a $34 million construction loan and $27.6 million in tax credit equity from Bank of America, a $27 million conventional first mortgage from Chase Bank, and $10 million from Miami-Dade County through Community Development Block Grant and Surtax funding. The financing represents different components of the development’s capital stack rather than an additive calculation of the project’s stated $68 million development cost.

“Projects like Caribbean Isles demonstrate what is possible when government agencies, financial institutions, nonprofit organizations, and private developers work together toward a common goal,” added Deutch. “The need for affordable housing continues to grow, and we are proud to be creating a community that will have a lasting impact on South Miami-Dade for generations to come.”

Amenities are planned to include a community room, fitness center, computer lab, and covered outdoor gathering spaces. The broader development also includes a 256-space parking garage completed earlier this year, with 150 spaces designated for transit riders and 106 reserved for residents.

Completion is anticipated in January 2027.

Subscribe to YIMBY’s daily e-mail



Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews