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
| Feb 15, 2012
Englewood Construction announces new projects with Destination Maternity, American Girl
Englewood’s newest project for Wisconsin-based doll retailer American Girl, the company will combine four vacant storefronts into one large 15,000 square-foot retail space for American Girl.
| Feb 14, 2012
Angelo State University opens doors to new recreation center expansion
Designed by SmithGroup, the JJR_Center for Human Performance offers enhanced fitness options, dynamic gathering space.
| Feb 14, 2012
SAIC selected for architectural and engineering design services at Lajes Field, Azores
SAIC’s services will include a broad variety of new construction projects and maintenance and repair projects
| Feb 14, 2012
Skanska promotes Aparicio and hires Leintz in Southern California
Aparicio and Leintz are both based in Skanska’s Los Angeles office.
| Feb 14, 2012
The Jackson Laboratory announces Gilbane Building Co. as program manager for Connecticut facility
Gilbane to manage program for new genomic medicine facility that will create 300 jobs in Connecticut.
| Feb 14, 2012
Thornton Tomasetti names Al Hashimi vice president for its Middle East Operations
Al Hashimi is joining the company to help expand Thornton Tomasetti’s business in the region and support clients locally.
| Feb 13, 2012
WHR Architects renovation of Morristown Memorial Hospital Simon Level 5 awarded LEED Gold
Located in the Simon Building, which serves as the main entrance leading into the Morristown Memorial Hospital campus, the project comprises three patient room wings connected by a centralized nursing station and elevator lobby.
| Feb 13, 2012
Center for Sustainable Building Research launches CommercialWindows.org
Resource aims at reducing commercial operating costs and energy consumption.
| Feb 13, 2012
New medical city unveiled in Abu Dhabi
SOM’s design for the 838-bed, three-million-square foot complex creates a new standard for medical care in the region.
| Feb 10, 2012
Task force addresses questions regarding visually graded Southern Pine lumber
Answers address transition issues, how to obtain similar load-carrying capabilities, and why only some grades and sizes are affected at this time.
