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The Florida property market is currently awash with repossessed properties, distressed properties and distressed developers. It is also awash with foreign property buyers on the look-out for bargains.
While most foreign buyers are hands-off investors, aiming to buy a property and have it managed by a management firm, some are planning to be a little more hands on. Developers eLan group are banking on it.
The Florida-based real estate developer is taking advantage of the US government's EB-5 program in order to offer those who invest $540,000 in a share of their company a green card. The EB-5 program stipulates that anyone who invests over 500,000 in something that subsequently creates up to 10 jobs in designated areas, is entitled to be considered for a free Green Card.
This is something you would never normally see. The US government has spent several generations trying to make getting a green card harder. This is an example of how desperate everyone is getting to bring in new investment and jobs into the beleaguered economy. They have gone from being selective about who gets a green card to practically selling them.
If you are wondering how Holywood Circle fits into all this; it is a mixed use development with 68,000 square feet of retail space and a four star hotel.
"This investment is perfect for young families who are looking for a fresh start in the US, or astute businessmen looking for a solid foreign investment," said eLan Group CEO Mark Taylor.
