Panorama Tower nabs EB-5 designation

Miami /
Oct.October 07, 2014 10:30 AM

Tibor Hollo’s 83-story Panorama Tower received the first EB-5 designation under the City of Miami’s new Regional Center for Foreign Investment program.

Once completed, Panorama would be the tallest residential building on the eastern seaboard south of New York. The $800 million project at 1101 Brickell Avenue fit EB-5 criteria because it is projected to bring 1,300 construction jobs, 192 management employees, 800 tenant employees and 220 visiting students to the city, according to the developer’s written announcement. Panorama is under construction and slated for an early 2018 completion.

The project includes a 19-story pedestal with more than 100,000 square feet of medically-oriented office space, a 2,000-car parking garage, 208-room hotel and more than 50,000 square feet of retail and restaurant space. Above the pedestal and recreation deck will be the 64-story, 821-unit apartment tower.

“The City of Miami is staying true to the intent and mission of the United States Citizen Immigration Services by offering top-tier EB-5 Regional Center projects to foreign investors which in turn will provide for the creation of thousands of jobs for our local residents,” said Mikki Canton, managing director of the city’s Office of International Business Development. “We are only as good as the quality of the projects we select to participate in our City of Miami EB-5 Regional Center.” — Eric Kalis


Related Articles

arrow_forward_ios
Location Ventures founder and CEO Rishi Kapoor along with a rendering of the planned 16-story condominium at 1505 Ponce De Leon Boulevard in Coral Gables (Location Ventures, Hamed Rodriguez Architect)
Location Ventures proposes 16-story Coral Gables condo building, puts Tibor Hollo-owned site under contract
Location Ventures proposes 16-story Coral Gables condo building, puts Tibor Hollo-owned site under contract
Clockwise from left: Wayne Hollo, Jerome Hollo, Austin Hollo and Tibor Hollo with 1201 Brickell Bay Drive
Waterfront Brickell development site of planned supertalls sells for record $363M
Waterfront Brickell development site of planned supertalls sells for record $363M
Michelle Bernstein’s Sra. Martinez re-opening in Coral Gables with EB-5 backing
Michelle Bernstein’s Sra. Martinez re-opening in Coral Gables with EB-5 backing
Michelle Bernstein’s Sra. Martinez re-opening in Coral Gables with EB-5 backing
(Facebook via Hotel Astor Miami Beach)
Shuttered Hotel Astor in Miami Beach gets a new owner
Shuttered Hotel Astor in Miami Beach gets a new owner
(Getty)
Weston man pleads guilty in Vermont Jay Peak EB-5 biomedical research case
Weston man pleads guilty in Vermont Jay Peak EB-5 biomedical research case
Mayor Francis Suarez (Getty, iStock)
Tibor Hollo, Pam Liebman and Housing Trust Group latest to donate to Miami mayor’s campaign
Tibor Hollo, Pam Liebman and Housing Trust Group latest to donate to Miami mayor’s campaign
Royal Palm Business Plaza at 9200 Belvedere Road in Royal Palm Beach (Google Maps, US District Court Southern District of Florida/Illustration by Alexis Manrodt for The Real Deal)
Joseph Walsh hit with $26M judgment over alleged Royal Palm Beach EB-5 fraud
Joseph Walsh hit with $26M judgment over alleged Royal Palm Beach EB-5 fraud
Triton Center (iStock)
Questions surround $50M in EB-5 investments tied to former INS building: lawsuit
Questions surround $50M in EB-5 investments tied to former INS building: lawsuit
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...