MIAMI, FL - City, County and community leaders will join together on Thursday, July 19, 2007, to celebrate the grand opening of the new $33 million Los Sueños affordable rental apartment development, built by the Pinnacle Housing Group in the Wynwood area.

Los Sueños features 13 stories and 179 units, including one, two and three bedroom units for families that are 60% average median income (AMI) or below. Units will rent from $273 to $857 per month. The building’s amenities include cable and hi-speed internet ports, high quality appliances, and ceramic tile floors throughout the apartments. The development offers an exercise facility, library, playground and common laundry room.  Los Sueños includes art by famed artist Romero Britto and architectural design by prominent Miami architect Kobi Karp. The property is developed by Pinnacle Housing, a full-service real estate development company committed to solving the critical need for housing in Florida’s urban centers by building and leasing affordably priced apartments.

Funding for Los Sueños includes financing from the State of Florida’s allocation of Housing Tax Credit Financing, City of Miami HOME Funds in the amount of $1,990,000, and Miami-Dade County SURTAX Funds in the amount of $4,500,000.