Developers Forced To Wean Themselves Off EB-5 Funding As Visa Waitlist Balloons
The EB-5 program, for years a reliable source of capital for builders in Miami, New York City and other major U.S. cities, has been beset with fraud, long waits and uncertainty.
Chinese investors, who made up 85% of all EB-5 investors, are now facing up to a 15-year wait between the time they file their initial petition and the time they receive a green card. With such a backlog, developers are turning to…
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In Miami, Armani-Branded Condo Tower Tops Off
The 56-story, 649-foot Residences by Armani Casa, which was announced in 2014, has topped off in Sunny Isles Beach. The project is being developed by Dezer Development and Related Group. It is expected to open in 2019.
The Armani project is…
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With Power Fully Restored, Tourism Director Says Now Is The Time To Invest in Puerto Rico
Full power was restored to Puerto Rico on Tuesday, and Puerto Rico Tourism Co. Executive Director Carla Campos has declared the U.S. territory "open for business."
As head of the government agency responsible for promoting tourism in the commonwealth, Campos is offering a counterpoint to a slate of bad news. Puerto Rico has been in a financial tailspin for more than a decade, Hurricane Maria slammed…
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Time Is Money: Why The 1 Percent Is Flocking To Hotel-Branded Residential Projects
Luxury hotel-branded residential developments have always catered to the highest echelon of the 1 percent, but developers are now willing to do away with the hotel portion to provide an even greater level of exclusivity — and it doesn't come cheap.
Instead of adding a handful of residential units to a hotel development, or vice versa, major hospitality brands are now partnering with developers to oversee services within purely residential projects.
“Buyers today want that hotel level of service, but they don't want the actual hotel,” London-based design and development firm Finchatton co-founder Alex Michelin said. Finchatton specializes in luxury developments around the world. “They don't want to have a $15M condo and be on the treadmill in the gym next to the guy who got the discount room rate.”
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4 Tech Companies Driving The Do-It-Yourself Renting Craze
Today's consumers can purchase new clothes, groceries, electronics and even cars online at the click of a button — so why not lease apartments?
“The experience of finding, renting and living in an apartment has been fundamentally altered by recent technology,” said Brent Steiner, founder and CEO of Engrain, an interactive real estate data and mapping solutions provider. “Keeping in step with online shopping, banking and hospitality technologies, the real estate industry has adopted apps for touring apartments, online leasing applications, paperless workflows, online rent payments and service requests, and a host of online chat widgets, most of which are bot-driven.”
With so much readily available through virtual means, today's renters seldom have to leave the couch to find new digs.
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Networking At Bisnow's Annual Multifamily Conference Southeast Will Be Easier Than Ever With BisnowMatch
After a warm reception at Bisnow's Baltimore State of the Market, networking platform BisnowMatch will roll out across 22 different Bisnow events this spring and summer, from morning to full-day programs. The service, which allows attendees to set up meetings…
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