Boynton Beach Multifamily January 2025 Construction Update

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

The trees from the landscape drawings were relocated to the perimeter berm, ensuring the trees remain healthy and in line with the overall design. In addition, the pond excavation has officially begun on the south side of the property, marking a major milestone for site stormwater management. Storm structures and the associated piping were also delivered to the site, positioning the team to start installing the new storm sewer system in the near future.

Meanwhile, building pad preparations are well underway. The team is in the process of bringing the pad up to its proper elevation, with one more lift expected before final grade is achieved. The Hendrick Brothers construction trailer is now on-site, which helps streamline daily coordination and keeps operations running smoothly.

Several important permits are in various stages of approval. The project plat is approved pending final signatures. Kolter anticipates receiving the PBCWUD utility permit in January once the Florida Department of Environmental Protection signs off. The ERM excavation permit has already been released, allowing the project to proceed with excavation activities. For the vertical building permit, a third round of comments has been received and Kolter is making the necessary revisions before resubmitting.

Thank you for keeping up with the progress at the Boynton Beach Multifamily site. We look forward to sharing more milestones and updates as construction continues to move forward.

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, more than 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 $30 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.