Boynton Beach Multifamily is a 210-unit apartment complex for active adults age 55+ featuring a 14,000 sq. ft. clubhouse. The project is located in Florida, the #1 state for retirement in the United States.
Boynton Beach Multifamily is a unique urban EB-5 project with key features that benefit EB-5 investors while limiting their financial and immigration risks. The project is being developed by Kolter, a highly experienced, well-capitalized developer with a perfect EB-5 project track record. With growing demand and limited competition, an independent regional center, significant job creation, and more, Boynton Beach Multifamily is one of the most compelling urban EB-5 projects on the market.
Construction Progress
Growing Demand for Active Adult Apartments
Experienced Developer
Experienced Property Manager
Independent Regional Center
Learn More about Boynton Beach Multifamily
Construction Progress
We are thrilled to share the latest developments on the Boynton Beach project, where significant progress has been made in both administrative and construction activities.
The development plat has been approved and is now pending final signatures from local officials. Kolter expects to receive the Palm Beach County Water Utilities Department utility permit, and the Environmental Resources Management excavation permit in mid-December. The team has addressed comments on the vertical building permit and plans to resubmit for review as soon as possible, aiming for approval by the end of December.
On the construction front, the clearing and grubbing of the site has been completed. The team is conducting ongoing test pits under the foundations to check for buried organic materials as per the Geotech Report, and no organics have been found so far. Earthwork continues with the creation of temporary construction roads, particularly on the north side of the property, to facilitate access.
The Lake Worth Drainage District canal culvert has been removed, and the canal banks are in the process of being graded. The team is about to commence excavation on the pond and begin work on underground utilities. The remaining trees will be removed and replaced in accordance with the tree disposition plan.
With all building permits expected to be approved by the end of December, the project remains on track to begin vertical construction in January. The project is making significant strides, and we are excited about the progress. We look forward to sharing more updates in the coming months as this exciting project brought to life.
Growing Demand for Active Adult Apartments
Florida is the number one U.S. state for retirees. According to U.S. census data, in 2022, more than one out of every 10 retirees who retired to a different state chose Florida. Florida received more retirees than any other state. By 2024, over 25% of Florida’s population is expected to be seniors.
While the key target demographic for the Boynton Beach Multifamily project is growing, the competition around the project site is limited. No other active adult apartment community exists or is planned within a five-mile radius of the project.
With high demand and limited competition, the project is expected to perform well. The financial success of the project, in turn, means less financial and immigration risk for EB-5 investors.
Experienced Developer
Kolter is one of the largest private developers in the United States. Since its founding in 1997, Kolter has invested in real estate projects totaling over $29 billion in value. Kolter has developed thousands of apartment units, single-family homes, condominium units, hotel rooms, and finished land lots in Florida.
Over its 25+ year history, Kolter has borrowed billions of dollars and has never failed to repay a loan. All EB-5 investments in Kolter projects are in good standing or have been repaid.
Kolter Multifamily is the rental residential acquisition and development affiliate of The Kolter Group. Kolter Multifamily’s rental communities are strategically located, providing residents with access to the best amenities, services, and local attractions. On-site amenities create enduring value and a sense of community.
Experienced Property Manager
Once operations commence, Boynton Beach Multifamily is expected to be managed by Greystar, a global leader in multifamily rental housing property management. Greystar has over 20,000 team members in nearly 224 markets with over 800,000 units under management.
An experienced, successful property manager helps ensure that the project will generate the operational revenue needed to create qualifying jobs for EB-5 investors.
Independent Regional Center
EB5AN serves as the regional center sponsor for Boynton Beach Multifamily. Since EB5AN is entirely independent from the developer, it can prioritize the interests of its EB-5 investors without any conflicts of interest. EB5AN is an experienced EB-5 regional center operator and has facilitated over $1 billion in investments through the EB-5 program. To date, EB5AN’s total project development costs exceed $4.1 billion.
EB5AN focuses on offering foreign nationals low-risk, high-quality investment opportunities and has helped over 2,300 immigrant investors from over 60 countries.
Learn More about Boynton Beach Multifamily
For more information on the Boynton Beach Multifamily project or other available EB-5 projects, please schedule a one-on-one call with EB5AN.
