Boynton Beach Multifamily EB-5 Project September 2024 Job Creation Update

Boynton Beach Multifamily EB-5 Project September 2024 Job Creation Update

Boynton Beach Multifamily is a 210-unit apartment complex for active adults aged 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.

Kolter has spent approximately $14.5M on the development of Boynton Beach Multifamily. This spending has resulted in the creation of 11.5 EB-5 eligible jobs.

Financial success and job creation are the two key factors that make Boynton Beach Multifamily one of the safest EB-5 projects available. EB-5 investors can have confidence that enough jobs will be created for them to qualify for Green Cards and that they will be repaid.

Download the Boynton Beach Multifamily EB-5 Job Creation Report

September 2024 Job Creation Progress

$14.5M of development expenditures created approximately 11.5 EB-5 jobs.

The Importance of Job Creation for EB-5 Investors

The EB-5 program requires each foreign investor’s investment funds to create at least 10 new jobs for U.S. workers. When an EB-5 investor has completed his or her two-year period of conditional residence in the United States, he or she must prove to USCIS that these jobs were created. As a result, an EB-5 project’s level of risk is tied to its job creation.

Certain EB-5 projects on the market may not have started construction at all. If such projects encounter financial difficulties, they may fail to spend enough money on development to create sufficient EB-5 jobs. EB-5 investors in such projects could have their EB-5 applications denied by USCIS.

Boynton Beach Multifamily has a guaranty that all EB-5 funds will be spent on qualify EB-5 expenses. This guaranty helps ensure that enough jobs will be created for all EB-5 investors to meet the EB-5 program’s job creation requirement and obtain a permanent Green Card.

Growing Demand for Active Adult Apartments

Florida is the #1 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—more than any other state. By 2024, over 25% of Florida’s population is expected to be seniors.

The target demographic for Boynton Beach Multifamily is growing, while competition around the project site remains limited. No other active adult apartment communities exist or are planned within a five-mile radius of the project.

With high demand and limited competition, the project is expected to perform well, reducing both financial and immigration risks 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.

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.