Residence Inn by Marriott breaks ground in Miami’s Flagler Station

Driftwood Hospitality Management will break ground on its first EB-5 funded project Wednesday, the company announced.

The North Palm Beach-based hotel operator expects that its $22.2-million hotel project, Residence Inn by Marriott Flagler Station, will open January 2016 at 11500 N.W. 105th St. in Miami.

EB-5 projects are funded partially or fully by foreign investors, who pledge $500,000 or $1 million to secure a U.S. visa.

Driftwood secured the property for $1.27 million in 2006, according to Miami-Dade County Property Appraiser records, and built a 127-room hotel flagged as the Courtyard Marriott Miami in 2009.

The company operates 40 properties across the U.S. and Costa Rica, a total of 8,000 rooms.

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Story by: Emon Reiser – Mar 4, 2015, 10:21am EST
Photo Courtesy: Arkadi BojarA!inov

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