In this paper, we study the relative homological dimension based on the class of projectively coresolved Gorenstein flat modules (PGF-modules), that were introduced by Saroch and Stovicek in [26]. The resulting PGF-dimension of modules has several properties in common with the Gorenstein projective dimension, the relative homological theory based on the class of Gorenstein projective modules. In particular, there is a hereditary Hovey triple in the category of modules of finite PGF-dimension, whose associated homotopy category is triangulated equivalent to the stable category of PGF-modules. Studying the finiteness of the PGF global dimension reveals a connection between classical homological invariants of left and right modules over the ring, that leads to generalizations of certain results by Jensen [24], Gedrich and Gruenberg [17] that were originally proved in the realm of commutative Noetherian rings. Funding. Research supported by the Hellenic Foundation for Research and Innovation (H.F.R.I.) under the "1st Call for H.F.R.I. Research Projects to support Faculty members and Researchers and the procurement of high-cost research equipment grant", project number 4226.