2314 Adams Street, Hollywood, FL 33020
Waiting List Forecast: Likely Short or None
Verified for 2019 by Lorena Bentley, Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $933 - 1,104 per Month† | 1 - 2 Beds | 1 - 2 Baths | 686 - 929 Sq Ft |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Pinnacle at Peacefield is a development nearly 20 years in the making, on land assembled by the City of Hollywood and its Community Redevelopment Agency as part of a planned redevelopment of the South Dixie Highway and Adams Street corridor. Named after the ancestral home of Founding Father John Adams, Pinnacle at Peacefield will consist of three buildings along Adams Street, each operating as its own urban village for seniors with amenities such as a community meeting room, cyber café, fitness/wellness facility, and outdoor patio. Residents will have access to senior services and can live worry-free in a storm secure rental home with impact resistant windows and back-up generator power that will provide emergency service for the elevators and common areas when needed.
This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Pinnacle at Peacefield does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 686ft2 | $933† |
| Two Bedroom (2/2) | 929ft2 | $1,104† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $33,600 / year | $38,400 / year | $43,200 / year | $48,000 / year |
| 50% AMI for PBRA Units | $33,600 / year | $38,400 / year | $43,200 / year | $48,000 / year |
| 60% AMI for LIHTC Units | $40,320 / year | $46,080 / year | $51,840 / year | $57,600 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Pinnacle at Peacefield have a waiting list?
Pinnacle at Peacefield probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Pinnacle at Peacefield?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
What property management company manges Pinnacle at Peacefield?
Pinnacle at Peacefield is managed by Pinnacle headquartered in Addison, TX.
In addition to Pinnacle at Peacefield, how many other affordable housing properties (and units) are there in Hollywood?
In addition to Pinnacle at Peacefield, we list 28 other affordable properties in Hollywood. Learn about these properties here. Our data research shows that there are a total of 1651 affordable units in Hollywood.
Housing options for families with immigrants.
If the head of household is a citizen or eligible immigrant, you can still qualify for HUD programs with a citizenship requirement.Rufus W. Bailey says:
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