Collins Park Artist

Miami Beach is one of the most expensive cities in Florida, so it has been a challenge for it to hold onto its community of artists and dancers who are central to Miami Beach’s identity. Through a Public Private Partnership with the City of Miami Beach, this project was built on a parking lot owned by the city to deliver nearly 100 units of income restricted housing, with a tenant waterfall prioritizing artists and teachers, followed by first responders and city employees. The project does not pay property taxes instead, the city receives all residual income from the project after debt service. Upon bond payoff ownership will revert from the nonprofit owner, back to the City of Miami Beach. Sustainability played a huge roll in this project, including saving money, with utilization of the roof and sunshine for an outdoor fitness center. This project has been a huge success in part because continuous community involvement.

*Properties developed by Pinnacle or by Pinnacle’s principals while at other firms*