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, MG3 Developer Group. Well-established in the region, MG3 Developer Group has a proven track record of success in developing charter schools offering high quality education.
The construction will be completed in 2 phases: Phase 1 will be completed in 2015 and Phase 2, in 2016. Upon completion of Phase 1, Charter School USA (“CSUSA”) intends to rent the facility and to operate the school.
In the form of a subsidy per student, CSUSA 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 will be located at 2025 McKinley Street in Hollywood, Broward County, Florida. With a population of about 1.8 million inhabitants, Broward County is the second most populous county in Florida. The school building will occupy a surface of 11,394 Square Meters and will have the capacity of 2,275 students.
* Plus management and legal fees
Total Project Cost:
$27.3 million (estimate)
Investment by Promoter:
$6.8 million (estimate)
Loan from Investors:
41 Immigrant Investors
EB-5 Visa’s Job Creation Requirement:
410 jobs (10 jobs per investor)
Assessor’s Prediction for Job Creation:
$500,000 – investment in the project
$55,000 - management and legal fees (I-526 petition)
Note: The investment will remain in escrow until the approval of the I-526 petition and will only be released in the project in case of an approval.
Construction Date: 2015-01-23
Construction Date: 2015-02-11
Construction Date: 2015-03-11
Construction Date: 2015-04-18
Construction Date: 2015-06-08
Construction Date: 2015-08-24