DORAL, FL-The developer of the planned Riviera Point Business Center here is hoping to finance the office building project by trading shares to foreigners seeking investor visas awarded through a federal program.
Rodrigo Azpurua has plans to finance the entire $9.5-million budget for the office building via the federal EB-5 program. The 40,000-square-foot Riviera Point Business Center is to be built at 9000 NW 89th Court and NW 15th St, according to the Miami Herald. The building will accommodate approximately 36 office suites of approximately 1,000 square feet each that will be geared for start-up companies.
Investor visas are secured under the EB-5 program that awards green cards in exchange for capital. Investors must put at least $500,000 into a project approved by the federal government. For each $500,000 share, the developer must prove at least 10 new jobs were created by the project. See story in the Miami Herald.
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