With 92 percent of its units already sold in advance, Riviera Point Business Center Doral recently opened its doors for small businesses to occupy upscale interior quarters at 1500 NW 89 Court in Doral, Florida.
The $9.5 million condominium project — the second of three planned for South Florida and completed successfully on time and within budget — was financed via a federal initiative called the EB-5 Immigrant Investor program. Together, the developer’s trio of projects is expected to generate 1,368 jobs for Florida’s economy.
“Doral’s phenomenal growth and cosmopolitan scene make it a strong draw,” Rodrigo Azpúrua, CEO of Riviera Point Development Group, said. “We’re pleased to have met the needs of small businesses, while enabling 19 foreign investors to achieve dreams of living in the U.S.”
Azpúrua, designated 2016 Creative Dealmaker of the Year by the South Florida branch of the NAIOP Commercial Real Estate Development Association, envisioned the EB-5 sponsored multi-tenant office buildings as a way of engaging foreign nationals who seek permanent U.S. residency. In addition to the Doral project, he spearheaded a similar structure in Miramar in 2015, with a second Miramar project slated for 2017.
“With creativity and determination, Rodrigo Azpúrua’s team has created a much-needed opportunity for growing companies to establish roots in our community,” Doral’s Mayor Luigi Boria said. “Riviera Point Business Center adds jobs and synergies with the Fortune 500 companies and other leading employers here.”