Driftwood Hospitality Management has launched an EB-5 program that will help finance a long pipeline of premiere investments through the development and acquisition of hotels. As a hotel developer, owner and operator with an extensive track record in the hospitality industry, Driftwood will be able to provide investment security for all EB-5 investors.
Driftwood has assembled a team of experienced professionals to assist in the expansion and operations of its EB-5 program and relies on partnerships with top industry professionals to ensure a seamless process for all EB-5 investors.
As part of the EB-5 program, foreign investors are currently required to invest $500,000 in a company that creates and maintains at least 10 jobs per investor to help stimulate the U.S. economy in certain rural or high-unemployment areas. EB-5 investors will then be granted a conditional visa once their application has been approved by United States Citizenship and Immigration Services (USCIS), typically a one year process. Investors are then eligible to apply for permanent U.S. resident status given they demonstrate that the legally required economic benefits of their investments have been achieved through their investment. Through this program, investors will have the opportunity to positively impact the regional and national economy by creating new jobs or saving positions that would otherwise be eliminated from the workforce.
Driftwood is a firm believer that this program is a “win-win” for all parties involved and is committed to maintaining best practices every step of the way. A happy investor leads to a lasting relationship, something Driftwood highly values and fosters in every area of its business.
Driftwood’s current project open for investor subscription until September 2015 is a Residence Inn by Marriott in Miami, FL:
This hotel is a $22.2 million, 123-room Residence Inn by Marriott Flagler Station which is slated to open in December 2015. The project is located in Flagler Station, which is the largest business park in South Florida, offering more than 10.5 million square feet of campus-style office, retail and industrial spaces at build out. The location is in a Targeted Employment Area (“TEA”) of Miami, Florida. The all-suites extended stay hotel is being built adjacent to the award winning Courtyard by Marriott owned and operated by Driftwood, thus benefiting from synergy of operations.
Driftwood’s next EB-5 project that will be open for subscription September 2016 will be a Hilton Canopy in West Palm Beach, FL:
The Canopy is a new lifestyle brand by Hilton that will compete in the upper-upscale/luxury segments. Hilton Worldwide launched the Canopy by Hilton lifestyle brand in October 2014 as an energizing new neighborhood hotel concept. Each boutique hotel will embrace local elements in its design and menus. This project will be located in the heart of Downtown West Palm Beach, two blocks from City Place, the downtown retail, dining and entertainment complex. The hotel will have 150 rooms spanning 14 floors with a rooftop pool and lounge and 2 full service restaurants. The project is in the final design phase and is expected to break ground in the second quarter of 2017; estimated cost is $50 million and is tentatively slated to open at the end of 2018.
Learn more about our expanding EB-5 Development program by contacting Alejandro Navia at anavia@dadlp.com.
To view our EB-5 Development photo gallery, click here.