CharterMac, an affiliate of New York-based Related Capital Co.,is confident it has made a sound investment.
"Laguna Pointe Apartments comes at a time when Pompano Beach ison the verge of a major revitalization, and we're pleased to bepart of that urban renewal by providing affordable housing to anunderserved market," CharterMac executive vice president JamesSpound says in a prepared statement.
Family-oriented affordable properties in the development areaare 99% occupied, Spound says. Locally based Cornerstone GroupDevelopment Corop is building the four-story and five-story LagunaPointe buildings at 901 McNab Road.
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