Pinnacle starts construction on affordable senior housing project in Hollywood, FL
Pinnacle Housing Group has begun work on a 120-unit Pinnacle at Peacefield affordable senior housing project in Hollywood, Florida, USA.
The property, located at 2130 Adams Street, will be within a 50-minute drive of downtown Miami. The project will comprise 72 one- and 48 two-bedroom units in three low-rise buildings. Projected rents will range from $380 to $835 for a one-bedroom apartment and between $456 and $1,022 for a two-bedroom unit. Amenities will include: lounge/meeting space, computer center, outdoor patio, fitness facility, and medical evaluation room.
Pinnacle Housing Group took out a US$22 million loan for the construction of the project. Citibank funded the financing at the end of 2018. The construction of Pinnacle at Peacefield is expected to be completed in 2020.
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