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On the Board


LIHTC Apartment Community
Charlottesville, Virginia

Pinnacle Construction and Development Corporation is pleased to announce that construction has begun on Brookdale, a 96-unit VHDA Low Income Housing Tax Credit rental community in Charlottesville, Virginia. The 6 acres site is located in the Southern Urban Neighborhood Development Area of Albemarle County off of Mountainwood Road.

When completed in late 2019, 100% of these 96 units will be reserved for households with incomes no more than 60% Area Median Income (AMI), and in 2016 the AMI was $77,800. This development helps to meet Albemarle County’s Comprehensive Plan’s goal to provide affordable housing options for low-to-moderate income residents of Albemarle County, and those persons who work within Albemarle County who wish to reside in Albemarle County.

Amenities at Brookdale include a community building and will be developed in accordance with EarthCraft sustainable standards for site design and building. The community will be professionally managed by Park Properties Management Company, an affiliate of the developer and a Virginia Housing Development Authority certified property manager.

Funding sources include equity through purchase of Low Income Housing Tax Credits by the Richman Group and permanent financing through the Virginia Housing Development Authority. In addition to the staff of Pinnacle Construction and its affiliates, the development team includes Hamrick Engineering, P.C., dBF Associates, Architects, and Hirschler Fleischer (Legal).

Preston Lake

Luxury Apartment Community
Harrisonburg, Virginia
Start date: Spring 2018

Harrisonburg, VA – Park Properties Management Company, a Charlottesville, VA-based property management firm, today announced details of a new 144-unit apartment development located just off of US-33 East and Massanetta Springs Road, about 10 minutes from downtown Harrisonburg.

Primarily one and two-bedroom apartment homes, the luxury community will feature smart and efficient design elements and a uniquely crafted style perfectly suited to the already established Preston Lakes neighborhood. Amenities will include community building with state of the art fitness center, resort-style swimming pool, and dog park.

Construction will be handled by Pinnacle Construction and Development, an affiliate of the management company, and is slated to start Spring 2018, with an anticipated completion date of Spring 2019.

Lofts at Meadowcreek Apartments

Charlottesville, Virginia
Projected Completion: 2018

Virginia Senior Living Construction