The Real Deal Miami

Pembroke Pines senior housing short on tenants

March 31, 2008 06:51PM

Nearly three months after the opening of the third phase of Pembroke Pines’ affordable rental complex for senior citizens, about 170 out of its 210 one-bedroom apartments remain vacant. The first two phases of the 55-and-older project, are both 95 percent occupied, possibly because they came to market in a better economy than the newest five-story, $26 million tower. The city, which needs to lease the units in order to pay off bonds borrowed to build the project, is considering reducing the age restriction on the apartments. They rent for around $710 per month.