Foreign investors seeking a direct route to a U.S. Green Card via the EB-5 immigrant investor program are offered the unique opportunity to invest as little as US$500,000* in a first-rate American Charter School project. The investment will take the form of a loan made to an experienced developer, Academica. Well-established in the region and headquartered in Miami, Florida, Academica has extensive experience in developing and operating charter schools and currently serves over 100 schools in Florida, Georgia, Texas, California, Utah and Nevada.
In the form of a subsidy per student, Somerset Academy, Inc. will receive a source of steady income from the local government and the state of Florida to cover for the school operating costs. As they do for all schools across the state, the government will remain responsible of overseeing the school’s financial and academic performance.
Description of the school and location
The school located at 325-377 NE 3rd Drive, Homestead, Florida, will have a size of approximately 4,884 square meters, and will have a maximum capacity of 975 students. The school is an expansion of an exciting campus (K-5 SOHO Somerset Academy) due to its high demand.
* Plus management and legal fees
Project Financials Overview:
Total Project Cost:
14 million US$
Amount Invested by developer:
3.5 million US$
Loan from Investors:
10.5 million US$
Number of Investors:
EB-5 Visa’s Job Creation Requirement:
210 jobs (10 jobs per investor)
Assessor’s Prediction for Job Creation:
Amount: 500,000 US$
Management Fee & Legal Fee (I-526 petition & I-829 petition):60,000 US$
Construction Date: 2014-02-20
Construction Date: 2015-02-11
Construction Date: 2015-03-10
Construction Date: 2015-04-11
Construction Date: 2015-05-11
Construction Date: 2015-08-09