News and Publications
Hollywood developer clearing Palm Bay site for a complex with 2 hotels
The Real Deal 7/28/2018
A South Florida development firm has started clearing a 10-acre site for construction of a $30 million commercial complex with two hotels in Palm Bay.
Hollywood-based AD1 Global Hospitality plans to build a 106-room Hyatt Place hotel and an 87-room Home2 Suites by Hilton. Site work started in June.
By March 2020, AD1 hopes to open the hotels together with two restaurants and three retail buildings as a complex called Palm Bay Executive Park....
Aloft and Element hotel planned near SeaWorld
Orlando Sentinel 8/10/2017
South Florida developer AD1 Global has filed plans for a dual-branded hotel near SeaWorld, with Starwood’s Aloft and Element flags. The hotel plan was filed Thursday with Orange County, for a 5.1-acre area at Central Florida Parkway and International Drive.
SeaWorld discussed in 2016 the need for more hotels in Orlando, with SeaWorld Entertainment CEO Joel Manby citing the success of Disney and Universal when he told analysts in November the company wants to develop its own lodging. So far that hasn’t happened...
New York's newest supertall skyscraper preps for its 1,001-foot ascent in Nomad
Curbed New York 3/31/2017
Another slender supertall is heading to New York City, this time in Nomad. A 1,001-foot skyscraper is set to rise just a few blocks north of Madison Square Park, at 262 Fifth Avenue, Dezeen has learned.
Developed by Israeli developer Boris Kuzinez’s Five Points Development, the project will be spread out over a few parcels of land between 260-264 Fifth Avenue, at the intersection of East 29th Street.
Russian architecture firm, Meganom has been brought on to design the supertall, and this will be the firm’s first U.S. project to date. The developer and Megamom have collaborated on several projects in the past, including the Tsvetnoy Central Market in Moscow...
Flagler Village expected to get new Hilton dual-branded hotel by 2019
A new hotel project under development in the Flagler Village area of downtown Fort Lauderdale now has a name and brand affiliation.
The $30 million-plus hotel, set to be built at 315 NW First Ave., will be a 202-room Tru/Home2 Suites by Hilton hotel, according to an announcement by the Coral Gables-based Driftwood Acquisitions and Development and Fort Lauderdale real estate developer Dev Motwani...
Developer of luxury condos plans to build hotel in Fort Lauderdale
"The location is very prominent," said Leonardo Coll, president of Grupo Alco. "We think it's perfect for a hotel." The 10-story hotel will have 150 to 160 rooms, Coll said. Groundbreaking is expected next year, with an opening planned in 2019, he said.
Grupo Alco is working on the project in a joint venture with Driftwood Hospitality Management and Eurobuilding Hotels Group...
The Highlands in North Miami Beach selling to EB-5 buyers
The Real Deal 8/1/2016
The Highlands in North Miami Beach is now pursuing Latin America and Chinese EB-5 buyers, as developers shift their strategy amid the condo market slowdown, The Real Deal has learned.
The 60-unit, seven-story condominium project, at 13810 Highlands Drive, so far has 23 units in reservation, after launching sales six months ago, the developers, Blue Road principals Jorge Savloff and Marcelo Tenenbaum, told TRD. The project recently received EB-5 approval, and five of the units were sold to EB-5 investors from Brazil and two to EB-5 buyers from Mexico, with others in the works, they said...
EB-5 Investors Magazine: Top 25 for 2016
Scott Barnhart is president of Barnhart Economic Services LLC, a consulting firm founded in 2005. The firm employs three Ph.D. economists and specializes in EB-5 and non-EB-5 economic job creation studies, Targeted Employment Area designations, and EB-5 business plan writing. Barnhart received his Ph.D. in economics/econometrics from Texas A&M University and is an Associate Professor of Finance and the Program Director of the Certified Financial Planner Program at Florida Atlantic University in Boca Raton, Florida...
EB-5 Investors Magazine: A Case Study by Scott W. Barnhart
The Immigrant Investor (EB-5) Program was created in 1990 to encourage immigrants wishing to reside in the United States to invest capital in a new commercial enterprise in order to create new and permanent fulltime jobs. Immigrant investors in the EB-5 program are normally required to invest $1 million in regional center projects, unless the project is located in a Targeted Employment Area (TEA), which allows a reduced investment level of $500,000. So the question arises, just how much does an immigrant investor’s $500,000 expenditure, along with household and other expenditures impact the local economy? Moreover, what are the broader economic effects one can glean from this analysis if the individual investor impacts are extrapolated to reflect national trends in EB-5 immigration?...
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