Miami-based Fortune International Group and Bay Harbor Islands-based Blue Road announced that Nexo Residences, a 15-story condominium project planned for construction in North Miami Beach with unrestricted home-sharing rental capabilities, is now designated for EB-5 Program investment. Located at 13899 Biscayne Boulevard, Nexo Residences is one of the first condo projects in the rapidly growing area that offers short-term rental capability without restrictions amidst its 254 residences. Designed by Frankel Benayoun Architects Inc. with consultation from internationally-renowned architect Carlos Ott, and common areas, residential interiors, and landscaping curated by Urban Robot, the project’s well-thought, resort-style amenities are coupled with connectivity throughout to make one’s stay on the property seamless – giving meaning to the brand’s name, Nexo, which is “nexus” in Spanish, a central point for its location, lifestyle and technology.
Due to a limited number of approved condominiums in Florida under the Program, this news presents a rare opportunity for foreign nationals to capitalize on establishing a pathway to U.S. citizenship. To comply, foreign nationals must invest a minimum of $800,000 in Nexo Residences and follow the required process under the United States Citizenship and Immigration Services (USCIS) for eligibility to receive a green card, officially known as a permanent resident card. Nexo Residences’ EB-5 designation is on the heels of President Biden’s re-authorization in March of the EB-5 Immigrant Investor Regional Center Program, following a multi-year hiatus from Covid.
Nexo Residences. Designed by Frankel Benayoun Architects Inc. and Carlos Ott.
“There is tremendous demand for investors to pursue this opportunity through Nexo Residences, and we are already seeing foreigners from many countries inquiring due to pent up interest in the EB-5 Program,” saidEdgardo Defortuna, president and CEO of Fortune International Group, one of South Florida’s preeminent residential real estate development, sales and marketing leaders for nearly 40 years. “Timing could not be riper to introduce the project as an investment vehicle and provide a new avenue to reach a diverse pool of investors. We are pleased to be partnering with Blue Road, which has more than a handful of EB-5 real estate developments in their portfolio.”
“We have identified a market need in many facets via Nexo Residences, one of which strongly supports EB-5 opportunities and job creation,” added Jorge Savloff, CEO of Blue Road, the Florida-based integrated developer of hospitality, residential, commercial, and mixed-use projects with a track record in EB-5 real estate product. “The recent news of the currency exchange rates and ongoing increase in international travel are igniting further interest in this as an ideal model for foreign national investment.”
Nexo Residences’ Porte Cochere. Designed by Frankel Benayoun Architects Inc. and Carlos Ott.
Consistency in all property experiences, high-quality design and connection to essentials are key factors to making short-term rental product attractive. With exclusive sales and marketing by Fortune Development Sales, Nexo Residences’ units will be delivered turnkey for owners to utilize and/or rent for short-, seasonal or long-term durations without listing limitations. These offerings make it coveted by investors, with the option to utilize it at their own discretion.
Nexo Residences’ move-in-ready residences will be fully finished with floor-to-ceiling windows, porcelain flooring, European-style kitchens, built-in bedroom closets, dedicated lockable owners’ closets, and expansive glass balconies. Priced from the $500,000s, studio to four-bedroom townhome floor plans will range from 525 to 2,190 interior square feet.
Credit: Nexo Residences.
Credit: Nexo Residences.
Credit: Nexo Residences.
Enhanced digital features, such as smart key access, a self-service package system, and Wi-Fi in all common areas provide a tech-driven environment that is both convenient and efficient.Blending the necessities of remote work life with South Florida’s vacation setting, Nexo Residences’ amenities include a two-story arrival lobby and lounge, a two-story tech hub with a café, coworking spaces, and a business center. Entertainment offerings are complete with an outdoor children’s playground, multi-purpose clubroom and private event area.
An indoor/outdoor fitness center will feature a yoga studio and virtual trainer, while the luxury pool deck will be outfitted with a resort-inspired pool and two spa pools with loungers. A summer kitchen will make for socializing and a rooftop observatory deck will entice stargazing. The property will also be pet friendly.
Nexo Residences’ Pool Deck. Designed by Frankel Benayoun Architects Inc. and Carlos Ott.
Credit: Nexo Residences.
Credit: Nexo Residences.
Credit: Nexo Residences.
Nexo Residences is in proximity to a plethora of business and leisure offerings in Miami, Bal Harbour, Aventura, North Bay Village, Sunny Isles, Hollywood Beach, and beyond. Set along the main thoroughfare of Biscayne Boulevard, it is minutes from the Intracoastal and is equidistant to Miami International Airport and Fort Lauderdale-Hollywood International Airport. Owners and guests have nearby name-brand supermarkets, fine dining, shops, and entertainment at surrounding retail centers, and outdoor recreational areas and green spaces.
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I DONT LIKE ALL THESE TALL BUILDINGS GOING UP IN NY AND FLORIDA. I THINK IT LOOKS TERRIBLE AND DESTROYS NEIGHBORHOODS. PLUS I DONT CARE FOR YOU PUSHING THIS ATMOSPHERE