Pinnacle secured $40.2 million in financing to develop a new mixed-use, affordable senior housing community in Fort Lauderdale. The financing will support Pinnacle at Cypress Phase I, the first of a two-phase development that will combine senior housing with ground-floor commercial space.
Located at 6520 North Andrews Avenue in Fort Lauderdale, Pinnacle at Cypress Phase I is the first phase of a two-phase mixed-use, affordable housing development. The development will feature 100 one-bedroom apartments along with 6,525 square feet of ground-floor commercial space. Phase II will also include 100 senior housing units, with a mix of studio and one-bedroom apartments to complement the housing offered in Phase I. Phase II will break ground in the spring of 2027.
Financing was provided by Bank of American, JP Morgan Chase and a half dozen public agenices.
The community will serve seniors earning 22%, 33% and 60% of the Area Median Income (AMI).
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