Boynton Beach Multifamily February 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 Boynton Beach Multifamily project continues to progress on multiple fronts. On the permitting side, the plat was approved on January 17, 2025, marking a critical milestone. The PBCWUD utility permit is expected to be released this month, pending final approvals from the Department of Environmental Protection. Additionally, they have resolved zoning and fire department use classification issues for the vertical building permit by addressing comments on easement adjustments and parking spaces. Kolter anticipates receiving the vertical building permit by the end of the month, which will allow them to move forward with vertical construction.

In terms of construction activity, earthwork remains ongoing. The building pad has been fully prepared, and the pond excavation is now complete. Drainage work is well underway, supported by well points that help manage groundwater during installation of the drainage infrastructure. The team has also installed an outfall that connects to the Lake Worth Drainage District canal, further advancing the site’s drainage system.

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.