Hollywood Circle(TM) Mixed-Use Project Organization's Initial Development
CORAL GABLES, Fla., July 19 /PRNewswire-Asia/ -- South Florida real estate is primed for a resurgence and Gold Coast Florida Regional Center(TM) (GCFRC) seeks foreign nationals to invest in the American Dream. Executives of the federally licensed and approved equity investment fund will visit Hong Kong (July 19-22) and Shanghai (July 23-28) to meet potential investors.
GCFRC is an approved investment entity under the U.S. Citizenship and Immigration Services (USCIS) EB-5 program. Authorized by Congress in the Immigration Act of 1990, the EB-5 program facilitates permanent residency status and Green Cards for immigrants who invest in the U.S.
Veteran developer Charles "Chip" Abele, one of GCFRC's founding partners, says the program has many benefits.
"As an official regional center, we seek international investments for South Florida projects that will be funded without bank loans or debt, enhancing potential for profitability," said Abele, whose career spans 35 years.
"Regional centers create jobs and bring capital into the U.S. while providing avenues toward permanent residency to those who invest."
Employment-based regional centers focus on designated geographic areas and projects -- in this case, select South Florida real estate. Qualified individuals who invest in the project receive an opportunity to obtain Green Cards and permanent residency in the U.S. for them and their immediate family.
GCFRC's first project is Hollywood Circle(TM), a fully entitled and approved mixed-use development on Young Circle in Hollywood, Fla. The first approved Broward County, Florida EB-5 development, Hollywood Circle includes The Circ(TM), an upscale boutique hotel by Desires Hotels(TM), 397 residential apartments, supermarket, restaurant and additional retail space. Construction is scheduled to begin in summer 2011.
The project is located in a Targeted Employment Area (TEA) where unemployment remains high. Participants will invest $500,000 (US) each with GCFRC, which will create a minimum of 10 jobs on their behalf. In exchange, investors are provided the ability to obtain permanent resident visas for themselves, their spouse and children under 21. The required investment for projects outside TEAs typically is $1 million (US).
GCFRC leaders have more than 100 years of combined U.S. and international real estate development experience. Abele is the regional center's Chairman and Muayad Abbas its Chief Operating Officer. Based in Coral Gables, Fla., the company plans to open offices in Hong Kong, Durban, South Africa, London, Moscow and Latin America.
To learn more about Gold Coast Florida(TM) Regional Center, call +1-877-GCFL-EB5 (+1-877-423-5325) or visit www.gcfrc.com. (To contact GCFRC between July 19 and August 5, call Muayad Abbas at +1-305-396-4884 or send an email to info@gcfrc.com.)
