Foreign investors seeking a direct route to the United States of America via theEB-5 immigrant investor program are offered the unique opportunity to invest as little as US$500,000* in a first-rate American Public Charter School project. The investment will take the form of a secured loan made to MG3 Developer Group, an experienced and successful developer of multiple charter schools in the state of Florida. Once built, the Project will be managed and operated by Avant Garde Academy.
In the form of a subsidy per student, Bridgeprep Academy Palm Beach will receive a source of steady income from the local government and the state of Florida to cover for the school operating costs. As they do for all schools across the state, the government will remain responsible of overseeing the school’s financial and academic performance of McKinley Charter School (Extension).
Description and Location of the School
The school is an expansion of McKinley Charter School, is located at 2025 McKinley Street, Hollywood, Florida. The first Phase of the school has opened August 24, 2015 with 896 students enrolled. The extension will begin in late 2015 with a delivery in July 2016. When both phases are completed, the facility will have a capacity of 2,275 students (Grades K through 12), with a focus on arts and sciences.
* Plus management and legal fees
Project Financials Overview:
Total estimated cost:
37.99 Million US$
Amount invested by the developer:
7.99 Million US$
Loan from investors:
30 Million US$
Number of investors:
EB-5 Visa’s Job Creation
Requirement: 600 jobs
(10 jobs per investor) reached
Amount: 500,000 US$
Management Fee: 60,000 US$ (including Legal Fee for I-526 & I-829 petition)