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MIAMI-Locally based Cornerstone Group has completed construction on Valencia Pointe, a 148-unit affordable housing complex at 7755 NW 27th Ave. The owner has declared the one- to three-bedroom units 100% leased despite the fact that the project was built at the perceived height of the recession.

“The area needed high quality, affordable rental units, as witnessed by a four-month leaseup, something unheard of right now,” says Jorge Lopez, Cornerstone chairman. He adds that Valencia Pointe’s appearance and features rival those found at “market rate” or more upscale apartment communities.

Valencia Pointe apartments feature private balconies and lanais, European-style kitchens with cherry wood cabinets and faux-granite countertops, and washer/dryer connections. The complex also has a resort-style swimming pool and a clubhouse with a social room, business center and fitness room.

The apartments also include several environmentally friendly features, such as toilets with dual flush options, low VOC paint, green-label certified carpeting and padding, and energy-efficient air conditioning and water heaters.

Cornerstone Group, established in 1993, claims development of more than 16,000 multifamily rental and condominium units throughout Florida.

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