Project Update: Harbourside Place

11 Mar Project Update: Harbourside Place

Harbourside Place, the Florida Regional Center (FRC) public-private real estate development in Jupiter, Florida, continues to move forward, as the first concrete pour was executed on the week of February 25, 2013. As of March 1, 2013:

  • 85% of the overall drainage system was installed
  • 20% of the domestic water main lines were installed
  • 95% of the storm tech water control system was installed
  • Two elevator pits were poured into Building 1
  • One elevator pit was poured into Building 2
  • Approximately 450 Cubic Yards of Concrete have been poured
  • The Riverwalk connection to the Oxbow Bridge on US Hwy 1 is 70% complete

The laying of the foundations marks the near-end of the under-ground, grading and site preparation work, such as water, sewage and electric. It also signifies the beginning of aboveground work, meaning the next steps will include framing, installation of windows and doors, roofing and more.

Dozens of local and national retailers have acknowledged the progress and projected success of the project, having either signed Letters of Intent or Leases to open establishments on the premise. Numerous others are in negotiation with Harbourside Place, and will be signing leases shortly.

As you know, USCIS has approved a number of the I-526 Petitions that you and your fellow investors have filed. To date, 100% of the I-526 Petitions have been approved. The opinion from our Expert Immigration Counsel concludes a USCIS determination that the Harbourside Place project meets USCIS requirements, entitling each investor in the Project to seek conditional permanent residence in the United States. Counsel further advises us that it is USCIS policy not to revisit this determination in connection with subsequent I-526 Petitions relating to the same project. Therefore, the Partnership anticipates that USCIS will ultimately approve all properly prepared I-526 Petitions submitted by investors in the Offering.

A handful of applicants have already completed the entire process, having received their consular interviews and obtained their US green cards. Another 60 applicants are expected to receive full approval by the end of the first quarter of 2013.

We look forward to communicating with you in the near future about the progress of this project. If you have any questions concerning this letter, please feel free to call 561-799-0027.