Pinnacle Communities advanced its development of a mid-rise rental complex in Sunrise where a quarter of the apartments would be workforce housing units with below-market rents.
The Sunrise City Commission unanimously voted Wednesday to approve a site plan for the development, called Enspire at Sunrise.
Miami-based Pinnacle expects construction to start in April 2027 and conclude in November 2028. Pinnacle must obtain a development permit before the site-plan approval expires in 18 months.
Led by co-founder and chairman Louis Wolfson III and co-founder and president David O. Deutch, Pinnacle plans to designate 57 of the 229 apartments as workforce housing. They would be reserved for tenants with income ranging from 80 percent and 120 percent of area median income. Median household income in Broward County is $77,633, according to Census Bureau data.
Income restrictions would stay in place for 30 years. Pinnacle expects market-rate rents to start at $2,500 a month for a one-bedroom.
The developer is taking advantage of a Broward County incentive program that allows qualified multifamily developers to build six market-rate residential units for every workforce-housing unit included in their projects.
The commission also allocated 33 “flexibility units” to Pinnacle’s development site, which is a transfer of allowable residential density from elsewhere in Sunrise.
The approved site plan shows two residential buildings rising five and six stories, plus a two-story parking garage, clubhouse and pool deck.
The vacant development site is just west of Florida’s Turnpike on the south side of West Oakland Park Boulevard between Northwest 64th Avenue and Northwest 68th Avenue.
The 9.7-acre site is composed of two parcels, 7.3 acres owned by Jucatore SA and 2.4 acres owned by RaceTrac Petroleum Inc., according to county and state records. The site plan application listed Pinnacle, a specialist in affordable and workforce housing, as the developer.
The owners paid $3.6 million for the two parcels, or about $370,000 per acre, according to county property records. Jucatore bought the larger parcel for $2.5 million in 2015, and RaceTrac paid $1.1 million for the smaller one in 2004.
