New Investment Opportunity at Iconic Miami Beach Hotel Astor

A South Florida hotel project is seeking funds from foreign investors who want to live in the United States.  A group renovating the 42-room Hotel Astor in Miami Beach aims to raise $5 million from 10 foreign investors — or $500,000 each — through the U.S. employment based visa program called EB-5.

Those investors will get equity in the Art Deco gem and can sign up Aug. 17 through Sept. 30.

A different group of developers had looked to EB-5 investors to raise $75 million for construction of the 17-story, 349- room Margaritaville Hollywood Beach Resort.  But their efforts failed, leaving the future of that project uncertain.

It is believed that a $5 million goal for the Astor’s renovation is achievable, because the amount needed is smaller, the Art Deco hotel well established and South Beach better known for investment than Hollywood beach.

EB-5 investors in the Astor project will most likely come largely from Colombia, Venezuela and other South American nations, whose affluent residents are familiar with Miami Beach.

Renovation of the Astor, located at 956 Washington Ave., is expected to create 110 direct jobs.  To qualify for U.S. residency visas, EB-5 investors must create 10 jobs each in the United States.

Contact David J. Hart for more information: 305 577 9977 or dhart@immigrateusa.com.

21 SE First Avenue
10th Floor
Miami FL 33131
www.immigrateusa.com
www.AstorEB5.com

Read More:

• Sports-Related EB-5 Project in Lakewood Ranch.

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Written by Chris Jaensch

Attorney P. Christopher Jaensch received a Bachelor of Arts degree in History in 1992 and a Juris Doctor degree in 1995 from the University of Florida. While at UF, he was a member of Sigma Chi Fraternity, Phi Beta Kappa Society and Florida Blue Key, the oldest and most prestigious leadership honorary in the state of Florida.

Mr. Jaensch is a member of the Florida Bar, the American Immigration Lawyers Association (AILA) and the Sarasota Bar Association. He has served as President of the Sarasota-Manatee International Trade Club and served as Regional Vice Chair, Tampa Bay, for the Central Florida Chapter of AILA. He was a member of City of Sarasota Charter Review Committee and has been active in several local organizations, including the influential Laurel Park Neighborhood Association in downtown Sarasota.

Mr. Jaensch has over 18 years of experience in the field of immigration and nationality law and focuses his practice on four primary categories (a) investors and entrepreneurs, (b) business executives, managers and professionals, (c) amateur and professional athletes and coaches and (d) performing artists and immigrants with extraordinary ability.