Riviera Point Holdings LLC will broke ground March 29 on a $17 million business complex in Miramar, Fla. that brings international investment and a location for hundreds of new jobs to the area. The first new office construction in that market since 2009, The Professional Center at Riviera Point, located on a four-acre site at University Drive and the Florida Turnpike, will have 70,000 sf of office space in two four-story buildings. The initial building is projected for completion in February 2013.
According to an economic impact study by Wright Johnson LLC of Palm Beach, The Riviera Point development will result in the creation of 441 jobs from the construction and operation of the center once fully tenanted. Corrales Architectural Group of Boca Raton designed the professional center and Cushman Wakefield is the leasing agent. According to Jon Blunk of Cushman Wakefield, the complex offers easy access to area expressways and is flexible enough to accommodate multiple professional firms or a single corporate user in each building. He noted that the development is well-timed to meet the demand for new generation space in a market where vacancy rates have been steadily declining.
The Professional Center at Riviera Point qualified as an EB-5 investment opportunity under the U.S. Citizenship and Immigration Services program, and is part of the Florida Regional Center EB-5 Investment, LLC. EB-5 allows a foreign national interested in obtaining permanent U.S residency to qualify by investing in a commercial enterprise that generates at least 10 jobs for U.S. workers for two years. At that point, the conditional EB-5 Visa becomes permanent. The qualifying investment for a project such as Riviera Point, which is located in a Targeted Employment Area, is $500,000. BD+C
Related Stories
Multifamily Housing | May 10, 2017
Triple Treat: Developer transforms mid-rise into unique live-work lofts
Novus Residences’ revolutionary e-lofts concept offers tenants a tempting trio of options—‘live,’ ‘live-work,’ or ‘work’—all on the same floor.
Architects | May 9, 2017
Spiezle Architectural Group looks to the future
Now in its seventh decade, the firm expands its portfolio and moves into a larger HQs.
Architects | May 9, 2017
Movers + Shapers: The social connector
Studio Gang gains fans with buildings that unite people and embrace the outside world.
Architects | May 5, 2017
An acquisition extends Eppstein Uhen Architects’ national footprint
Has architects in 35 states after acquiring Burkettdesign in Denver.
Great Solutions | May 5, 2017
No nails necessary: Framing system comes together with steel zip ties and screws
Clemson University’s School of Architecture develops a patent-pending construction method that is gaining attention for its potential use in rapid, low-tech sustainable housing.
Multifamily Housing | May 3, 2017
Silicon Valley’s high-tech oasis
An award-winning rental complex takes its design cues from its historic location in Silicon Valley.
Architects | May 3, 2017
Avoiding trouble in paradise: Tips on building successfully in the Caribbean
The island setting itself is at the root of several of these disruptive assumptions.
![Multifamily housing today: 7 exciting, inspiring innovations [AIA Course]](/sites/default/files/styles/list_big/public/Screen%20Shot%202017-05-02%20at%2011.55.02%20AM.png?itok=ZS_4opT9 "Multifamily housing today: 7 exciting, inspiring innovations [AIA Course]")
Multifamily Housing | May 2, 2017
Multifamily housing: 7 exciting, inspiring innovations [AIA Course]
This AIA CES course features seven novel approaches developers and Building Teams are taking to respond to competitive pressures and build more quickly and with more attractive offerings.
Healthcare Facilities | May 1, 2017
Designing patient rooms for the entire family can improve patient satisfaction and outcomes
Hospital rooms are often not designed to accommodate extended stays for anyone other than the patient, which can have negative effects on patient outcome.
Architects | Apr 27, 2017
Number of U.S. architects holds steady, while professional mobility increases
New data from NCARB reveals that while the number of architects remains consistent, practitioners are looking to get licensed in multiple states.
