Construction of Pinnacle at Tarpon River Kicks Off
- Aug 29, 2014
Fort Lauderdale residents will soon have another affordable option downtown as a $32 million, 112-unit mixed-income and mixed-use development will be constructed at 805 Southeast 3rd Avenue.
The new Pinnacle Housing Group project is the first mixed-income housing development in downtown Fort Lauderdale south of Broward Boulevard. The developer is simultaneously going vertical with the first mixed-income apartment in the City of Miami, Brickell View Terrace. Both communities will provide affordable and market-rate housing.
Pinnacle at Tarpon River will comprise 100 units designated for qualified affordable housing residents and 12 market rate rental units. Its location grants easy access to transportation and amenities, targeting mainly entry-level professionals, health care workers, teachers, service sector personnel and other public sector employees seeking an urban live/work environment
Common area amenities at the community will include a 1,800 square-foot fitness facility with both workout equipment and a yoga studio, internet café, a three-story parking garage with a controlled access and fully-equipped car care area, an outdoor patio deck on the garage roof with wet bar, barbecue and playground. Ample indoor common area space for programming and resident events as well as up to 2,000 square feet of leasable flex space for commercial or office uses will also be available.
According to this year’s “State of the Nation’s Housing” report by Harvard University’s Joint Center for Housing Studies, South Florida is becoming one of the nation’s least affordable regions to live in.
The project is set to come to market in 2015.
Photo credits: Pinnacle Housing Group