Pinnacle obtains funding for $31M Miami-Dade affordable housing project

Pinnacle Housing Group has obtained financing and will soon break ground on the $31 million Verbena affordable housing project in the Leisure City area of Miami-Dade County.

The 110-unit apartment complex is planned for 28140 S. Dixie Highway, near the South Dade TransitWay, where the county plans to build an express bus service. The Miami-based developer obtaining a $23 million construction loan from Citibank, which will eventually be mostly replaced by investment equity through the bank’s purchase‚Ķ