Groundbreaking Ceremony for Affordable Housing Development

TYLER — Pinnacle Housing Group LLC, a full service real estate company specializing in the development of affordable housing, broke ground Wednesday for Pinnacle at North Chase in Tyler. The latest Pinnacle development will be a gated community of 120 garden apartment homes as part of the 395-acre master-planned, mixed-use North Chase planned unit development. North Chase has strong support from the community, including the city government. It’s seen as a significant revitalization project for the community as well as the individuals who will live there.

In July 2010, the Texas Department of Housing and Community Affairs awarded PHG Lone Star, LLC (a subsidiary of Pinnacle Housing Group) $1.4 million in Housing Tax Credits to help finance the development. The luxury-style rental community at 3651 N. Broadway in Tyler will offer a clubhouse with a cyber café/computer lab, fitness facility, game room with a serving kitchen, and a patio with an outdoor fire pit. The swimming pool will be located adjacent to the playground and covered picnic area. A vita course complete with a walking/jogging trail and outdoor fitness stations centered around a sand volleyball court will provide a park-like area for resident use. The development is scheduled to be complete in the spring 2012.

The Housing Tax Credit program encourages private development of properties with restricted rents based upon income. The units will be set aside for residents making 30%, 50% and 60% of the Area Medium Income (AMI). There will be 32 one-bedroom, one-bath units with 880 square feet, 64 two-bedroom, two-bath units with 1,180 square feet, 20 three-bedroom, two-bath units with 1,310 square feet and 4 four-bedroom, three-bath units with 1,550 square feet. Each unit will include a patio/balcony, exterior storage, walk-in closets, pantry space, and energy efficient appliances including a dishwasher and garbage disposal.