Learn More About the Twin Lakes Rural EB-5 Visa Project
Kolter is pleased to share the extensive progress of its Cresswind at Twin Lakes development project.
Cresswind at Twin Lakes is a 1,300 single-family home community development being constructed outside of Atlanta, Georgia. The project is located in a rural TEA, offering EB-5 investors a reduced investment amount, access to reserved EB-5 visas, and priority processing of their immigrant petitions. The project has already created enough jobs to satisfy the job creation requirement for all of its EB-5 investors.
The project developer team continues to make significant construction progress. Sales for this compelling rural EB-5 project remain strong.
Progress on Amenities
As of June 30, 2023, the 30,000+ square foot club house is open to residents and guests. The first floor offers a game room, lounge with double-sided fireplace, hosting bar, ballroom for concerts and shows, and a presentation kitchen. On the second floor, residents have access to an arts and crafts studio featuring a kiln; a training center with free weights, cardio and strength machines, and exclusive EGYM equipment; a group fitness room; and a natatorium that includes an indoor pool with hot tub. The club house also offers residents access to the outdoor resort-style pool, event lawn with band shell/stage, and the boating and fishing dock.
Additionally, residents now have access to the dog park, community garden, and hiking trails. The project is situated on 30+ acres of lakes for fishing, canoeing, and kayaking. The community’s pickleball court complex with eagle’s nest viewing pavilion and 20+ courts is also open and hosting events.
Community Activities Highlights
Cresswind at Twin Lakes hosted four Pickleball Wars Tournaments in 2022. These events were a huge success with more than 250 attendees at each tournament. Additionally, the community’s HOA management team hosted a clinic with more than 200 attendees along with another charitable event with more than 250 attendees.
In 2023, Cresswind at Twin Lakes plans to continue to host tournaments as the community grows and engagement increases. The Pickleball Club is currently the most popular club within Cresswind at Twin Lakes.
On June 3, 2023, Cresswind at Twin Lakes hosted its first outdoor summer concert. Sons of Sailors, a Jimmy Buffett cover band, performed in the amphitheater for more than 400 residents.
Addition to the Local Community
A Publix is projected to open at the entrance of Twin Lakes in 2024, which will provide residents with walking, golf cart, and convenient car access to groceries and other retail outlets within the shopping center.
Construction Update
While all primary amenities are complete, construction of the community infrastructure is ongoing. As of June 30, 2023, over 380 houses have been constructed and closed with keys turned over to home buyers.
Sales Update
Home sales pace continues to exceed expectations. As of June 30, 2023, 520+ homes have been sold.
The VIP waitlist has remained strong, and the sales team will continue to focus on selling to this list initially with each lot release. For any remaining available homes in each phase, the new prospect marketing focus is highlighting the community’s prestigious amenities. The 2023 marketing plan is geared toward highlighting the newly opened club, pools, and outdoor amenity complex.
Following are links to the most recent sales updates:
EB-5 Job Creation Update
EB-5 eligible job creation is calculated using project expenditures since construction began on the Twin Lakes rural EB-5 project. As of March 31, 2023, a total of approximately $137.1 million has been spent on EB-5 eligible project costs. This spend to date consists of approximately $132.5 million in hard construction costs and approximately $4.6 million in soft construction costs. Most project costs, excluding land and other ineligible costs, count toward EB-5 eligible jobs. When combined, these eligible expenditures have created approximately 1,846 EB-5 eligible jobs. These jobs are more than enough for all EB-5 investors in the Twin Lakes rural EB-5 project to obtain their permanent Green Cards. When completed, the Twin Lakes rural EB-5 project is expected to create a total of 6,934 EB-5 eligible jobs.
