OAKLAND PARK, FL – Building Better Communities and Pinnacle Housing Group hosted a ribbon cutting celebration to mark the grand opening of Oakland Preserve, the new multi-family, 80-unit affordable housing community located at 3600 Oakland Preserve Way in Oakland Park.

“With affordable housing at a premium in South Florida, we are proud to offer rental rates at Oakland Preserve that are substantially lower than market rate,” said Michael Long, president of the board of directors of BBC. “Oakland Preserve exemplifies our commitment to delivering vibrant communities that give residents peace of mind.”

Oakland Preserve is green-certified and features a fully-equipped kitchen, energy-saving appliances, durable finishes and hurricane-impact windows and doors.  Energy efficiency in the design, materials and appliances provide a high quality, affordable housing option for the local workforce.

“This is the third successful collaboration between Pinnacle Housing Group and Building Better Communities,” said Timothy P. Wheat, regional vice president of Pinnacle. “In all three developments, we worked together to provide housing indistinguishable from market-rate housing.” 

Oakland Preserve’s amenities include a fitness center, playground, indoor children’s play area, cyber lounge, on-site maintenance, 24-hour property management and other resident-friendly features, such as spacious shared common areas offering shaded patio seating, a grill and ample recreational space that overlook a community lake with a decorative spray fountain. 

“The business community within Broward County appreciates our work in the field of workforce housing. It is vital that we continue to collaborate with community partners, like Pinnacle, to meet the need for high quality workforce housing and a neighborhood feel that communities desire,” said Ann Deibert, assistant secretary of BBC.

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JONESBORO, GA – Napali Capital, a leading Texas-based real estate investment company, announced the acquisition of Canterbury Townhomes in Jonesboro, Georgia. The property is a 160-door multifamily property comprised of three-bedroom units. This acquisition is the third property in the Atlanta area. 

Canterbury Townhomes is located just 30 minutes south of Downtown Atlanta. It is easily accessible via interstate or rail and is near several of the area’s largest employers including Prime Healthcare, Southlake Mall, Clayton State University, Atlas Logistics Group and FedEx Ground. It also is proximal to distribution centers for Kroger, Fresh Express and the state’s largest employer, Hartsfield-Jackson Airport.

Napali Capital will rebrand the property as the Residences at Forest Pointe and plans to invest more than $500,000 to address structural improvements and amenity upgrades including landscaping, roofing and unit renovation. The company has engaged Strategic Management Partners to manage the day-to-day operations.

“The employment is growing at an exponential rate in this area, which is one of the reasons we have focused on Atlantaand the surrounding areas for opportunities,” said Napali Capital co-founder and Managing Partner, Thomas Black, M.D. “Through this investment, we believe Napali Capital can continue to provide value not only to our partners but also to the tenants and surrounding community.”

This acquisition supports Napali Capital’s strategy to invest in areas with a strong economy, high job growth and low unemployment. During the last 12 months, Atlanta area employers made 86,400 positions, an annual increase of 3.2 percent. Aerotropolis Atlanta is expected to add 450,000 local jobs and generate $64.2 billion in economic impact, and one of the largest film studios in the U.S., Pinewood Atlanta Studios, employs approximately 3,750 people and currently is undergoing a 700-acre expansion.

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