Foreign investors seeking a direct route to the United States of America via the EB-5 immigrant investor program are offered a unique opportunity to invest as little as US$500,000* in a first-rate American Public Charter School project. The investment will take the form of a loan made to an experienced developer, Academica. Well-established in the region and headquartered in Miami, Florida, Academica has extensive experience in developing and operating charter schools and currently serves over 100 schools in Florida, Georgia, Texas, California, Utah and Nevada.
In the form of a subsidy per student, Somerset Academy Inc. will receive a source of steady income from local and state governments to cover for the school operating costs. As they do for all public schools across the state, the government will remain responsible of overseeing the financial and academic performance of the school, to be known as “Somerset College Prep Academy”
Description and Location of the School
Somerset College Prep Academy is located at 725 NW California Boulevard, Port St. Lucie, St. Lucie County, Florida, it is being built to accommodate a new charter school with entire facility that will include grades 6-12 and have a maximum capacity of 1,126 students on its 10-acre campus. The Project of Phase 1 will commence construction in late 2016 and be completed in July 2017. Phase 2 will commence construction in mid to late 2017 for a projected delivery in July 2018.
* Plus management and legal fees
Total estimated cost:
18.55 Million US$ (43%)
Amount invested by the developer:
8.05 Million US$ (57%)
Loan from Investors:
10.5 Million US$
Number of investors:
EB-5 Visa’s Job Creation Requirement:
326 jobs (15.5 jobs per investor) reached (55% exceeding)
Amount: $500,000 US$
Management Fees: 45,000 US$ (excluding Legal fees & Application fees)