Construction to start on Riviera Point Development’s EB-5 funded office space

Riviera Point Business Center
Rendering of Riviera Point Business Center in Doral

Riviera Point Development is launching construction of a Doral office condo building targeting small-space users that is fully funded by EB-5 investments.

Construction on the developer’s $9.5 million, 41,000-square-foot Riviera Point Business Center will begin this month and is expected to be complete in 2016, CEO Rodrigo Azpurua announced.

More than half of the complex’s 825- to 1,520-square-foot offices have been sold. As Doral’s population and developments grow, the demand for small office space has also increased, according to a news release. Azpurua, who emigrated from Venezuela to the U.S. in 2001, said it’s normal for entrepreneurs and professionals in Latin America to own their small office space.

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Through the EB-5 program, foreign investors can obtain permanent U.S. residency by investing in a commercial enterprise that generates at least 10 jobs for U.S. workers for two years, at which point the visa becomes permanent. For a project like the Riviera Point Business Center located within a targeted employment area, the minimum investment is $500,000.

The building is located at 9000 NW 89th Court and NW 15th Street in Doral.  Katherine Kallergis