The Real Deal Miami

North Miami Beach project debuts sales center with EB-5 event: PHOTOS

So far, buyers hail from Argentina, Brazil, Colombia, Mexico, Spain and Italy

August 18, 2016 08:45AM

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The Highlands, a mid-rise condo project planned for North Miami Beach, opened its sales gallery with a presentation on the EB-5 visa program.

Blue Road, led by principals Jorge Savloff and Marcelo Tenenbaum, is developing the 60-unit, seven-story condominium, designed by Carlos Ott and Frankel Benayoun. About 40 sales agents attended the event.

The developers are pursing Latin American and Chinese buyers via the EB-5 program, which grants permanent U.S. residency to investors (as well as their immediate family members) who create at least 10 domestic jobs and invest at least $500,000 to $1 million in a U.S. business venture.

Units at the Highlands begin at $360,000 for a two-bedroom, two-bathroom unit with 924 square feet, or $389 per square foot. Other units, with 1,200 square feet, are priced at $460,000 or $383 per square foot. Penthouses with rooftop terraces and summer kitchens, with 924 square feet to 1,200 square feet, range from $400,000 to $500,000. Amenities will include a ground level pool with Jacuzzi and barbecue area, fitness center and recreational area.

Overall, buyers so far have hailed from Argentina, Brazil, Colombia and Mexico, as well as Spain and Italy. – Katherine Kallergis and Sean Stewart-Muniz