SkyRise Miami
Momentous amusement towers do not pay for themselves it seems, and in an effort to incentivize foreign investment in the project SkyRise Miami, developers have utilized a program that allows people a shortcut approach to getting a green card, for a hefty price. Foreign investors who contribute at lease half a million dollars to the tower have access to the EB-5 federal immigration investor program, which makes them eligible for a much easier route to achieving American citizenship, as long as their source of funds gets deemed legitimate by Homeland Security. Congress established the EB-5 initiative in 1990 as a way to promote foreign investment in the US economy, and the way it works is if an individual commits at least $500,000 to an American project that is set to create at least ten full time jobs than they are eligible for a streamlined green card application that is much more lenient then what the general public has to pass. Miami-Dade County has already contributed $9 million to SkyRise, and although the developers are seeking more from the state of Florida the majority of the cost of the tower will come from overseas.
When it comes to ambitious Real Estate Development, Miami continues to place itself front and center. On the International Stage, Miami tends to attract spectacular projects, and while all may not get developed, it certainly makes for entertaining business stories. We here at RE/MAX Paradise in Miami Beach pride ourselves on staying up to date on projects like SkyRise Miami, and so many others.
SkyRise Miami is sure to put South Florida on the map as one of the most attractive international tourist destinations, and create even more demand for real estate in the area. If you are interested in properties throughout Miami and all of South Florida then feel free to contact a RE/MAX agent today!