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
BIM and Information Technology | Jul 6, 2015
BIM/VDC training is more than learning the features
Training can be a taxing experience for both the class and the instructor. CASE's Nathan Miller offers four ways to make training more relevant to practitioners.
Healthcare Facilities | Jul 6, 2015
The main noisemakers in healthcare facilities: behavior and technology
Over the past few decades, numerous research studies have concluded that noise in hospitals can have a deleterious effect on patient care and recovery.
BIM and Information Technology | Jul 6, 2015
New documentary shows Legos as touchstones of creativity
The film's narrator, actor Jason Bateman, says it’s a story “about a simple toy and how its unique properties ushered in a new era of creativity for a whole generation.”
Contractors | Jul 1, 2015
ABC: Nonresidential construction spending continues growth with stellar May
Through the first five months of 2015, nonresidential construction spending is having its second best year since the Census Bureau began tracking the metric in 2002, according to ABC.
Architects | Jun 29, 2015
Getty Foundation announces second series of ‘Keeping It Modern’ grants to conserve 20th century architecture
Frank Lloyd Wright’s Unity Temple and Erich Mendelsohn’s Einstein Tower are among the 14 projects added to the Keeping It Modern grant program.
Architects | Jun 29, 2015
9 top picks for continuing education from BD+C University
A roundup of top AIA/CES Discovery courses from BD+C University.
Industrial Facilities | Jun 24, 2015
5 trends that will shape the future of scientific labs
Scientific research is increasingly focusing on data collection and analytical analysis of that data, meaning the "lab of the future" will more closely resemble contemporary tech spaces, writes Gensler’s Erik Lustgarten.
Architects | Jun 23, 2015
Architecture Billings Index back to positive territory for May 2015
The American Institute of Architects reported the May ABI score was 51.9, up from a mark of 48.8 in April.
Architects | Jun 23, 2015
If film directors designed homes, what would they look like?
From Burton to Bergman, Gondry to Greenway, artist Federico Babina illustrates what buildings would look like if designed by the world’s greatest directors.
High-rise Construction | Jun 23, 2015
The world's best new skyscrapers for 2015
One World Trade Center and Abu Dhabi's Burj Mohammed Bin Rashid Tower are among the four towers named Best Tall Buildings by the Council on Tall Buildings and Urban Habitat.