The ONE Tampa Initial Loan Disbursement Has Set a Fixed Maturity Date for All EB-5 Investment Funds

ONE Tampa is a 42-story luxury condominium tower featuring 225 units, retail space, and amenities, currently being developed in the heart downtown Tampa, Florida. Upon completion, it will be the tallest building in Tampa and one of the tallest on Florida’s west coast.

The project is being developed by Kolter, a highly experienced and well-capitalized developer with a perfect EB-5 project track record. EB-5 investors benefit from a short loan term and a repayment guaranty from a Kolter parent company. With strong sales, an independent regional center, significant job creation, and more, ONE Tampa is one of the highest-quality, lowest-risk urban EB-5 projects on the market.

Construction of ONE Tampa is well underway, with the subterranean foundation work nearing completion.

Initial Loan Disbursement

We are happy to announce that on October 23, 2024, the partnership made the first disbursement under the EB-5 loan to the ONE Tampa project. This significant milestone has set the loan’s maturity date for April 23, 2028, for all EB-5 investment funds, in accordance with the EB-5 loan agreement.

All EB-5 investors who make an investment today will benefit from a pre-established maturity date, providing investors with additional clarity on when the EB-5 investment will be repaid.

Form I-956F Exemplar Approved by USCIS

ONE Tampa has received Form I-956F exemplar approval from USCIS. This approval means that USCIS has reviewed the project’s documents and found them to be compliant with the EB-5 program. By approving Form I-956F, USCIS has agreed that ONE Tampa is in an urban TEA. USCIS also accepted the project’s job creation methodology and EB-5 investment structure. As a result, investors can have greater confidence that an investment in ONE Tampa should result in a permanent Green Card.

Overview of the ONE Tampa EB-5 Project

The ONE Tampa EB-5 offering is structured as a secured loan investment, backed by a repayment guaranty from a well-capitalized, diversified parent company of the developer. With a short loan term, investors can anticipate a timely return on their investment.

As of November 2024, ONE Tampa has already presold 101 of its 225 condominium units, representing 45% of its total inventory. This strong sales performance underscores the project’s viability and appeal in the market.

Situated in a high-unemployment urban targeted employment area (TEA), the project qualifies for Urban TEA Designation. Investing in such a project allows EB-5 investors to benefit from a reduced minimum investment of $800,000 and access to special set-aside visas. These high-unemployment EB-5 visas make up 10% of the total EB-5 visa supply.

The development of ONE Tampa is expected to generate a total of 2,966 jobs for EB-5 investors, far exceeding the requirement of creating 10 jobs per investor. To mitigate risks associated with construction costs, Kolter has executed a Gross Maximum Price (GMP) contract with the national construction management firm Moss & Associates. This GMP contract prevents construction cost overruns that could otherwise delay or halt the project’s development.

The project offers an I-526E Approval Refund Guaranty, ensuring faster repayment of an EB-5 investor’s $800,000 investment if their Form I-526E petition is denied by USCIS. Moreover, there is a Job Creation Guaranty from Kolter, assuring that all EB-5 funds will be spent on expenses that qualify for job creation under the EB-5 program.

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 $30 billion in value and 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 has extensive experience developing condominium towers similar to ONE Tampa through its business unit, Kolter Urban. Kolter Urban develops luxury condominiums in waterfront, water view, or urban in-fill locations. Kolter Urban’s condominium towers are strategically located and provide residents with access to the best amenities, services, and local attractions. These on-site amenities create enduring value and a sense of community, helping ensure strong sales and successful investments.

ONE Tampa follows six nearly identical urban EB-5 loan projects in Florida. EB5AN and Kolter have collaborated on the following luxury condominium tower developments:

• Water Club North Palm Beach (North Palm Beach, Florida)
• 100 Las Olas (Fort Lauderdale, Florida)
• Mark Sarasota (Sarasota, Florida)
• VUE Sarasota Bay (Sarasota, Florida)
• ONE St. Petersburg (St. Petersburg, Florida)
• Saltaire (St. Petersburg, Florida)

All of these prior EB-5 loan projects were completed on time and on budget, and 100% of the condominium units were sold. In nearly all cases, all units were presold before construction was completed. Kolter has either repaid the EB-5 funds or they remain in good standing.

Independent Regional Center

EB5AN serves as the regional center sponsor for ONE Tampa. 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 70 countries.

Learn More about ONE Tampa

For more information on the ONE Tampa project or other available EB-5 projects, please schedule a one-on-one call with EB5AN.