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Flagstone Sues City of Miami Over $1B Watson Island Project

Flagstone Property Group has filed $122 million lawsuit against the city of Miami. The suit was filed one day after commissioners unanimously declared the developer in default of a 99-year ground lease that would allow Flagstone to build its luxury hotel and marina complex, and claims the city breached agreements with the developer causing them to lose millions in investments, according to the Miami Herald.

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EB-5 Visas: Everything You Need to Know

U.S. Congress created the EB-5 Program in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. In 1992, Congress created the Immigrant Investor Program, also known as the Regional Center Program. This sets aside EB-5 visas for participants who invest in commercial enterprises associated with regional centers approved by USCIS based on proposals for promoting economic growth. We talked about EB-5 Visa with an expert, Marko Issever, Managing Director of Riverside Management Group, a merchant banking boutique.

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