ONE Tampa October 2024 Construction Update

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.

ONE Tampa is a compelling urban EB-5 project with best-in-class features that limit EB-5 investors’ financial and immigration risks. 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 three-year 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 Progress

In October, significant progress was made on-site. Bauer Construction has made remarkable headway completing 41 out of the 84 production shafts. The secant wall construction continues, with only six shafts remaining on the west side and three on the east side. This substantial progress not only demonstrates the efficiency of the construction team but also brings us closer to the next phase of the project.

In addition to the shaft work, Power Design Inc. has begun installing temporary power panels and underground conduits. These installations are crucial for providing the necessary power infrastructure to support ongoing and future construction activities on-site.

Another significant development is the receipt of the shoring plan for the 100 Madison Building. This plan is currently under review and represents a critical step in ensuring the structural integrity and safety of the surrounding areas during construction.

As we move into November, the focus will shift toward installing the building foundation, including piles and pile caps. This foundational work is essential for the structural support of the building and marks the beginning of vertical construction elements. Additionally, the crane foundation installation is scheduled for this month, which will be pivotal for lifting heavy materials and facilitating the construction process.

Overall, construction is progressing well, with key tasks on track as planned. We are excited about the advancements made in October and look forward to the significant developments scheduled for November. Stay tuned for more updates in the coming months!

Job Creation

In September 2024, Kolter spent approximately $11.0 million furthering the development of ONE Tampa. This spending resulted in the creation of 139 additional jobs, bringing the total job creation to 254 EB-5 eligible jobs.

Condominium Sales

The project has already presold 101 of its 225 condominiums, representing 45% of its total inventory. Buyers are required to pay non-refundable deposits totaling 25% of the purchase price, which means the ONE Tampa project is already generating substantial revenue from sales.

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 $30.0 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 60 countries.

Learn More about ONE Tampa

EB-5 projects rarely offer both a high level of financial security and strong immigration safety. With many EB-5 jobs created, a loan repayment guaranty, and other top features, ONE Tampa stands out in the market.

EB5AN structures financially strong, USCIS-compliant projects to help EB-5 investors protect their hard-earned funds and get U.S. Green Cards as quickly as possible.

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