South Florida’s affordable housing crisis is set to receive a much-needed boost as Miami-based Pinnacle breaks ground on the innovative Pinnacle at Tropical Pointe. This ambitious project, located in the Princeton neighborhood of unincorporated Miami-Dade County at 25155 Southwest 136th Avenue, aims to deliver 215 affordable housing units through a unique blend of public and private sector collaboration. The full-service real estate development and construction company has successfully secured $72.3 million in financing from local bonds, tax credit equity, and local subsidies.
Cipriani Residences Miami will be the first ground-up residential tower under the Cipriani brand. Miami Condo Investments reports that the 80-story structure will comprise 397 luxury residences.
In December 2022, developers received approval for Brightshore Village, a mixed-use venture on a 700-acre build site. Per Gulfshore Business, the “primarily residential development” will feature 2,000 housing units––170 of which will be designated as affordable housing
Housing Trust Group (HTG), a leading affordable housing developer, has partnered with AM Affordable Housing, a non-profit organization founded by NBA Hall of Famer and Miami Heat icon Alonzo Mourning, to develop Princeton Grove, a $23.5 million affordable housing community. Situated at 475 Aplin Road in Crestview, Florida, Princeton Grove will be a four-story residential development featuring a variety of one- and two-bedroom apartments. Catering to seniors aged 62 and older and senior veterans of the armed services, the partnership has recently secured financing and initiated construction on the project with Bayern Construction as the general contractor.
555 River House could soon call the 305 home. Our sources report that the general contractor could start on the $200 million venture in August 2023, comprising about 140,000 square feet of new construction.