Funding

Funding Needed
$130 (Mio)
EB5 Funding
$48 (Mio)
EB-5 Investors
96
Investment Amount
$500,000

Jobs

Category
Accommodation and Food Services
Sub-Category
Hotels (except Casino Hotels) and Motels

Location

State
Florida
Location
700 – 998 S. Federal Highway Boca Raton, Florida

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VIA MIZNER I (VM Fund Phase I)


Developer Name
Penn-Florida

Project Description

Phase I represents the beginning steps toward several successes:
• USCIS approval for EB-5 investment visas
• The growth of Florida Regional Center and U.S. Immigration Fund
• The projects own profitability

Phase I of the project consists of the development of 350 luxury rental apartment units within a large residential tower, in the heart of Boca Raton. There have been no new rental spaces built in Boca Raton since 2003. This new project will offer buyers classically elegant style that will definitely stand out in the growingly competitive rental market. Boca Raton’s occupancy ranked lowest in Palm Beach County with a current vacancy rate of only 6%, which is expected to drop to significantly lower levels in 2013. Boca Raton is the home of many Fortune500 business headquarters as well as the location of many growing small and medium-sized businesses.

Besides the state-of-the art amenities, elegant fixtures and chic style of these Boca Raton apartment suites, the project will contain 16,187-square-feet of office space and 16,000-square-feet of high-end retail space on the first floor, which makes a convenient shopping center for residents. Moreover, it will also include 624 on-site parking spaces for residents and visitors.


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