MIRAMAR, Fla. — Pinnacle has broken ground on Pinnacle at La Cabaña, an affordable seniors housing community in Miramar, a northern suburb of Miami.
The $41.2 million project will feature 110 units in one- and two-bedroom floorplans. Construction is scheduled for completion in 2025. The development is part of a public-private partnership between Pinnacle and the City of Miramar.
Pinnacle at La Cabaña will offer 11 units to seniors earning up to 28 percent of the area median income, and the remaining units will be available to seniors earning up to 60 percent of the area median income.
Financing for Pinnacle at La Cabaña includes funding from Bank of America, Neighborhood Lending Partners, Florida Housing Finance Corp., the City of Miramar and United Way of Broward County through its Housing United initiative (endowed by Mackenzie Scott).
According to a 2021 study from United Way, 43 percent of age 65-plus households, or 203,457 total households in Broward County (105,781 households alone in the greater Miramar/Pembroke Pines area) are cost-burdened due to housing expenses.