eLan's Launch of 'Hollywood Circle' a Success

Located in vibrant South Florida between Fort Lauderdale and Miami, the mixed-use development consists of a 25-storey building which includes retail space of 68 000 square feet housing a Publix Supermarket (a Fortune 500 Company), a 397-unit apartment building and a four-star boutique hotel. Facilities and amenities include 24-hour security, concierge services, private parking, a resident's club room, a fitness centre and a pool. At the launches, investors were offered the opportunity to buy one of forty units exclusively allocated to the eLan Group by Hollywood Circle developers.

The project falls under the United States government approved EB-5 visa program where investors qualify for a green card by investing $500 000 ($540 000 including legal fees) in an approved commercial enterprise that benefits the US economy and creates jobs, both directly and indirectly. Effectively, investors are purchasing a share in a development company on an equal basis with all other shareholders. Rental returns and any dividends made are split on an even basis and investors can expect a return in excess of 50% on their investment, which includes three years income.

Interestingly, there are just three EB-5 property developments in Florida, Hollywood Circle being the only full mixed-use (residential, retail and commercial) construction. Once the investment has been made into the exciting project, the investor is entitled to draw a green card at any time, and after five years may convert to a US passport. The benefits of citizenship is a large draw-card offering access to free primary and secondary schooling, as well as standard citizen university fees and the opportunity to live and work in the States permanently.

Although actual construction into the ground only begins in May 2011, the success of the Hollywood Circle eLan launches in Dubai and South Africa have just further increased the momentum and growing excitement regarding this unique investment opportunity.

http://www.elan.co.za/news_details.php?articleID=187

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