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
| Mar 25, 2011
Qatar World Cup may feature carbon-fiber ‘clouds’
Engineers at Qatar University’s Department of Mechanical and Industrial Engineering are busy developing what they believe could act as artificial “clouds,” man-made saucer-type structures suspended over a given soccer stadium, working to shield tens of thousands of spectators from suffocating summer temperatures that regularly top 115 degrees Fahrenheit.
| Mar 23, 2011
AIA adds 13 new contract documents to Documents-on-Demand service
Web-based solution adds 13 popular Architect’s Scope of Services Documents to AIA Documents-on-Demand, providing easy access to documents anytime, anywhere.
| Mar 23, 2011
After 60 years of student lobbying, new activity center opens at University of Texas
The new Student Activity Center at the University of Texas campus, Austin, is the result of almost 60 years of students lobbying for another dedicated social and cultural center on campus. The 149,000-sf facility is designed to serve as the "campus living room," and should earn a LEED Gold certification, a first for the campus.
| Mar 23, 2011
Architecture Billings Index shows nominal increase
The American Institute of Architects (AIA) reported the February Architecture Billings Index score was 50.6, up slightly from a reading of 50.0 the previous month. This score reflects a modest increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 56.4, compared to a mark of 56.5 in December.
| Mar 22, 2011
The American National Standards Institute accredits Stantec for greenhouse gas verification
Stantec Consulting Ltd.’s Atmospheric Environment Group has been awarded accreditation by the American National Standards Institute (ANSI) for verification of assertions related to greenhouse gas (GHG) emissions. The Scope of Accreditation is for verification of emissions and removals at the organizational level for Group 1 – General.
| Mar 22, 2011
Mayor Bloomberg unveils plans for New York City’s largest new affordable housing complex since the ’70s
Plans for Hunter’s Point South, the largest new affordable housing complex to be built in New York City since the 1970s, include new residences for 5,000 families, with more than 900 in this first phase. A development team consisting of Phipps Houses, Related Companies, and Monadnock Construction has been selected to build the residential portion of the first phase of the Queens waterfront complex, which includes two mixed-use buildings comprising more than 900 housing units and roughly 20,000 square feet of new retail space.
| Mar 21, 2011
RATIO Architects announces merger with Cherry Huffman Architects
RATIO Architects, Inc. with studios in Indianapolis and Champaign, Ill., recently announced it has merged with prominent Raleigh, N.C., firm Cherry Huffman Architects.
| Mar 18, 2011
Universities will compete to build a campus on New York City land
New York City announced that it had received 18 expressions of interest in establishing a research center from universities and corporations around the world. Struggling to compete with Silicon Valley, Boston, and other high-tech hubs, officials charged with developing the city’s economy have identified several city-owned sites that might serve as a home for the research center for applied science and engineering that they hope to establish.
| Mar 17, 2011
Perkins Eastman launches The Green House prototype design package
Design and architecture firm Perkins Eastman is pleased to join The Green House project and NCB Capital Impact in announcing the launch of The Green House Prototype Design Package. The Prototype will help providers develop small home senior living communities with greater efficiency and cost savings—all to the standards of care developed by The Green House project.
