Caribbean Isles Senior Housing Tops Out in South Miami Heights
County permit records put the topping-out pace at roughly 10 months from permit to structural completion on an 8-story affordable build.
Construction has topped out on Caribbean Isles, an 8-story, 142-unit affordable senior housing tower Pinnacle is building with South Miami Heights Community Development Corporation on county-owned land in South Miami Heights. County permit records show the tower’s master building permit issued roughly 10 months before the topping-out milestone, a rare hard data point on how long an affordable mid-rise actually takes to go vertical in Miami-Dade right now.
Why it matters
For general contractors and affordable sponsors bidding similar-scale work in Miami, the gap between a permit and a topping-out ceremony is normally invisible until a project is already done. Here it is not. Miami-Dade County issued the tower’s master construction permit, number 2026003448, to contractor PC Building LLC, Pinnacle’s in-house construction division, on October 16, 2025. The building topped out on August 12, 2026, about 300 days later. That is a usable benchmark for GCs scoping affordable senior housing in the county: roughly ten months from permit issuance to structural completion on an 8-story, 142-unit concrete structure built on a constrained infill site.
The numbers
The tower carries 90 one-bedroom and 52 two-bedroom units reserved for residents 62 and older earning up to 60% of area median income, designed by Behar Font & Partners. Miami-Dade’s permit record lists a declared construction value of $17.59 million for the structure itself, against a $68 million total development cost. That total is financed with a $34 million construction loan and $27.6 million in tax credit equity from Bank of America, a $27 million first mortgage from Chase, and $10 million from Miami-Dade County’s Community Development Block Grant and Surtax programs. The site sits adjacent to the county’s South Dade Transitway bus rapid transit corridor.
What’s next
Interior buildout and systems work follow the topping out, with Pinnacle targeting completion in 2027. Caribbean Isles is the second phase of the site, following the earlier Caribbean Village phase that delivered 123 senior units on the same county-owned parcel. The pace GCs should watch next is lease-up: whether a 60% AMI senior project this size fills as fast as its permit-to-structure timeline moved.