Pinnacle Housing Group and Ascend Properties break ground on the Oasis at Blue Lagoon apartments in Miami – South Florida Business Journal

Pinnacle Housing Group and Ascend Properties are planning to build 272 apartments at the Waterford at Blue Lagoon in the Airport West submarket.

Kings Terrace is bringing new life to a Miami neighborhood that has long suffered from blight and neglect. The $53 million project, which utilized $17 million in federal Neighborhood Stabilization Program (NSP) funds, began with Pinnacle Housing Group taking title to a troubled 421-unit property in unincorporated Miami-Dade County.

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Oasis at Blue Lagoon is located in Miami, Florida in the 33126 zip code. This apartment community was built in 2019 and has 8 stories with 272 units.

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Pinnacle Housing Group and Ascend Properties got a $46.4 million construction loan to build a 272-unit apartment complex near Miami International Airport. Pinnacle and Ascend expect to finish construction of the Oasis at Blue Lagoon apartments at 6650 Northwest 7 Street in Miami in mid-2019.

Pinnacle continues its expansion into "Class A" luxury rental development with Oasis at Blue Lagoon, the first multifamily community to rise within the master-planned Blue Lagoon commercial park adjacent to Miami International Airport.This 272 unit community is being developed in conjunction with Pinnacle’s venture partner Ascend Properties, and will consist of one, two, and three.

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