Another new South Florida hotel is nearing reality, thanks in part to a federal program that allows foreigners to invest here in exchange for permanent U.S. residency, under select conditions.
On Friday, officials from Driftwood Acquisitions & Development of Coral Gables and American Opportunity Regional Center of Miami broke ground on the new EB-5 hotel project, a 150-room DoubleTree by Hilton in Doral.
The $26 million, six-floor hotel will rise up on the corner of Northwest 102nd Avenue and 19th Street, near Miami-Dade County's International Mall, and is slated to open in July 2017. It will feature 144 rooms and six suites, a restaurant, two bars, three meeting rooms, a business center, fitness facility and pool.
The Doral DoubleTree will be the second EB-5 hotel project for Driftwood, an affiliate of North Palm Beach-based Driftwood Hospitality Management, which operates about 40 hotels throughout the United States and Costa Rica.
In June, Driftwood Hospitality celebrated the grand opening of its first hotel developed under the EB-5 federal program, the $22.2 million, 123-room Residence Inn by Marriott Flagler Station in Miami.
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