Pinnacle Lines Up $31.4M for Fort Lauderdale Seniors Housing Phase

Pinnacle Housing Group has lined up $31.4 million to build the first phase of Pinnacle at Cypress, a 100-unit seniors-housing building in Fort Lauderdale’s Cypress Creek submarket, with construction set to start in the first quarter of 2026.

Why it matters

Pinnacle is using Florida’s Live Local Act to build an 8-story senior building on a commercial-zoned site along North Andrews Avenue, a track that skips the rezoning fight a market-rate project of the same height would face. For builders tracking the Cypress Creek corridor, the deal confirms affordable senior housing financing is still closing even as construction lending has tightened elsewhere: the package pairs a state SAIL loan with a bond inducement from the Broward County Housing Finance Authority, a structure other Broward affordable developers can point to when underwriting comparable seniors deals. Pinnacle Housing Group, led by Louis Wolfson III and David Deutch, has built dozens of LIHTC projects across South Florida, and this is a fresh site rather than an expansion of an existing property.

The numbers

The $31.4 million finances phase one only: the 100-unit senior building, on a roughly 1.8-acre portion of a larger North Andrews Avenue parcel, designed by Kaller Architecture. Pinnacle is also seeking a 9 percent low-income housing tax credit allocation from the Florida Housing Finance Corporation and applying for Broward County gap financing to round out the capital stack. The full two-phase project, adding a second 96-unit workforce building, carries a total development cost of nearly $90 million. The City of Fort Lauderdale has already approved a $640,000 loan commitment toward the second phase.

What’s next

Pinnacle expects to break ground on the senior building in the first quarter of 2026, with the full Miami area project targeting completion in June 2028. The second, 96-unit workforce phase still needs its own construction financing to close before it can start, separate from the package just secured for the senior building.