The EB-5 Immigration Program allows people to obtain a Green Card in the USA through an investment. But the investment must go to a project specifically structured for the program. Introducing Archer Place, an EB-5 compliant project in the state of Florida.
Living in the United States is undoubtedly a real objective for many foreign investors. In 1990, under section 203(b)(5) of the Immigration and Nationality Act (INA), the US Congress created a fifth employment-based preference immigrant visa category (EB-5). Which establishes the bases so that an investment can be transformed into a Green Card.
This program is designed to favor the economy of the United States and at the same time to investors who want to obtain a permanent residence.
How does the EB-5 Program work?
The Immigrant Investor Program aims to stimulate the economy in emerging areas of the country through foreign capital. And for the investment to be considered within the EB-5 program, it must go to a specific type of project.
This project must meet a series of requirements, such as being affiliated with an organization called a regional center, that the development of the project generates at least 10 full-time jobs and the participation of relatively new companies. In addition, the investor must have a minimum capital of 800,000USD. Around 10,000 Green Cards are available each fiscal year, which in the US falls every September 30.
Archer Place: Structured project to the EB-5 Program
The first step to apply to the EB-5 Program is to locate a project with the established requirements. A new student housing project has already been approved in Florida and it appears to be one of the most important in recent years in the city of Gainesville, located in the north of the state. We are referring to Archer Place, a mixed-use building located just steps from the University of Florida and that will offer student residences, condominiums for rent, and commercial spaces.
Archer Place is developed by BAI Capital, a real estate company with more than 12 years of experience in raising capital, investing and generating investment value. And it has all the necessary characteristics to be considered as an EB-5 project. In other words, investing in Archer Place together with BAI Capital will allow you to enter the program and apply for a Green Card or permanent residence.
Archer Place It will have 92 apartments for sale, 164 luxury apartments for student rental and commercial areas to include services for residents.
Jason Fort, Executive Vice President of Asset Living, a company with more than 36 years of experience in the student housing market in the United States, commented that Archer Place is a unique project due to its excellent location, very close to the University of Florida, restaurants and malls.
“It is definitely what the students are looking for, it is a project that will work very well. I wish it was already built, I wish it was already there. We could move students tomorrow because it’s certainly something they’re going to like.”
Gainesville: the city chosen to build Archer Place
According to Movoto Real Estate, Gainesville is one of the best places to live in the state of Florida. We are talking about a growing city with many opportunities for young professionals and investors. In fact, many people move there because of the good weather and the affordable cost of living.
Gainesville is a great place to live and work, with several attractions to offer its residents. The city has a wide range of restaurants, bars and other entertainment venues. And also a prosperous economy due to its important universities. Which means that there are always jobs and opportunities available for people who want them. If you are looking for a place different from the noise of New York or Los Angeles, Gainesville may be exactly what you need.