Pinnacle Completes Miami Mixed-Income Community

The company delivered Pinnacle Heights, a 109-unit community largely designated for residents earning 60 percent or less of the area’s median income. The $35 million property also includes a few market-rate apartments.

The Pinnacle Heights in Miami, Fla.
The Pinnacle Heights in Miami, Fla.

Affordable housing developer Pinnacle Housing Group has completed the construction of Pinnacle Heights, a 109-unit, mixed-income rental community in northwest Miami, Fla. The $35 million property is already fully leased and residents have begun moving in.   

Located at 3530 N.W. 36th St., the community provides access to public transit and several major employment centers, including Miami International Airport, Miami Health District, downtown Miami and Doral. According to Yardi Matrix data, the 13-story building consists of 25 one-, 66 two- and 18 three-bedroom units. In addition to an attached four-story garage for 173 vehicles, on-site amenities include:

  • business center
  • community room
  • fitness center
  • covered playground
  • storage units

The bulk of the apartments are restricted to residents earning 60 percent or less of the area’s median income and four apartments will be leased at market-rate rents. Monthly rents for affordable units range from $797 for a one-bedroom unit to $1,112 for a three-bedroom apartment. Market-rate rents start at $1,450 per month.

At the end of last year, Pinnacle Housing Group, in partnership with Building Better Communities Inc., also opened Oakland Preserve, an affordable housing community in Broward County, between Fort Lauderdale and Pompano Beach.

Image courtesy of Pinnacle Housing Group