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University of Miami EB-5 project moving along

June 23, 2010 @ 3:14 pm
Posted by Exclusive Visas

University of Miami EB-5 project moving alongThe development of the University of Miami Life Science and Technology Park is progressing as the developer of the project, which is getting financial help from an EB-5 regional center, recently signed a lease with the school.

The developer, Wexford Science and Technology, can occupy 80,000 square feet of office and lab space in the first building of the park as a result of the lease, according to the Miami Herald.
Helping Wexford to finance the construction project is the BirchLEAF Miami 31 Regional Center, an EB-5 regional center.

The EB-5 visa program was created to allow foreign nationals the chance to earn U.S. green cards if they invest $1 million in an American business and, as a result of that investment, 10 jobs are created. EB-5 regional centers were created to help direct and manage EB-5 investments. Some regional centers, like BirchLEAF, are in Targeted Employment Areas, which are distinguished by their high unemployment rate, and only a $500,000 investment is needed.

Construction is moving ahead on the 252,000-square-foot first building of the university’s Life Science and Technology Park, which is expected to be completed in the summer of 2011.

4 Responses to “University of Miami EB-5 project moving along”

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