HOLLYWOOD, Fla. — Pinnacle Housing Group, in partnership with the City of Hollywood, has broken ground on Pinnacle at Peacefield, an affordable housing development for seniors. Hollywood is located just north of Miami.
Named after the ancestral home of John Adams, Pinnacle at Peacefield will offer 120 units on land assembled by the City of Hollywood and the Hollywood Community Redevelopment Agency. The community will contain 72 one-bedroom units and 48 two-bedroom units in three low-rise.
Each building will have its own dedicated common-area facilities including a lounge/meeting space, computer center, outdoor patio, fitness facility and medical evaluation room. Projected rents will range from $380 to $835 for a one-bedroom home and $456 to $1,022 for a two-bedroom residence.
"We are reaching a crisis-level shortage of housing for seniors in Florida,” says Timothy Wheat, regional vice president of Pinnacle Housing Group. “We are elated to provide 120 units along with much needed services and support that will make elderly lives easier."
Construction is scheduled to be complete in early 2020.
Established in 1997, Miami-based Pinnacle Housing Group is a full-service real estate development company that develops, builds, leases and owns affordably priced and luxury-styled apartment homes, with over 9,000 units concentrated in Florida, Mississippi and Texas.