Developers Raise EB-5 Funds for $1B Miami Project
China City Construction Holding Group and American Da Tang Group are in talks to use EB-5 to help fund $350M of the $1B mixed-use project CCCC Miami Towers in the Brickell area.
"This EB-5 project will serve as a catalyst to attract wealthy Chinese investors to Miami for many years to come," co-owner of American Life Investments Roger Bernstein told GlobeSt. His regional center is the one promoting the project overseas in China and Latin America. "It’s a win-win for Chinese investors and the South Florida economy," he said.
Miami is well on its way to becoming a hotspot for Chinese investors, as real estate brokers try to hire Mandarin-speaking sales agents and the Greater Miami Chamber of Commerce just created the Miami-China ad hoc committee. [GS]