The Cove Residences Opens EB-5 Investment Opportunity in Miami

• SB Development and Hazelton Capital Group announced that The Cove Residences is now accepting EB-5 investments.
• The 40-story waterfront condominium in Edgewater is currently the only waterfront Miami project participating in the EB-5 program.
• Developers say investors must file before the September 30 deadline to potentially secure grandfathered protection under current EB-5 rules.
  
  
  

What the EB-5 Opportunity Includes

Developers behind The Cove Residences have officially opened the Miami waterfront condominium project to EB-5 investors, creating a new pathway for qualified foreign nationals seeking U.S. permanent residency through real estate investment. SB Development and Hazelton Capital Group announced that the 40-story boutique condominium tower in Miami’s Edgewater neighborhood is now accepting EB-5 investments as construction continues along Biscayne Bay. According to the developers, The Cove Residences is currently the only waterfront residential project in Miami participating in the EB-5 Immigrant Investor Program. The offering arrives during a critical period for international investors as questions continue surrounding the future of the federal EB-5 Regional Center Program.

What Developers Say About the Timing

Joseph Stern said the project combines waterfront luxury living with a rare immigration-related investment opportunity.
“The Cove is a rare combination: a boutique waterfront condominium, a prime Edgewater location, and a development already moving forward in one of the strongest residential markets in the country,” Stern said.
Under the current structure, qualified investors contributing $1.05 million may become eligible to apply for U.S. permanent residency through the EB-5 program. Developers noted that only 40 investor slots are currently available for the offering.

What Hazelton Capital Group Says About the Project

Adam Westreich said the project reflects Miami’s continued growth as a global destination for international investment and luxury residential development.
“We are proud to open The Cove Residences to qualified international investors who recognize the quality of the project and its contribution to Miami’s rapid evolution,” Westreich said.
Developers also noted that the project sponsor has already filed the required I-956F petition, allowing eligible investors to move forward with individual immigration filings before the anticipated September 30 deadline.

What the Project Will Include

The Cove Residences is currently under construction at 496 NE 29th Street in Edgewater and is expected to include 134 luxury residences ranging from one- to four-bedroom layouts. The tower was designed by Kobi Karp with interiors by Dieguez Fridman Design. Amenities will include a resort-style infinity pool, spa facilities, fitness center, meditation garden, coworking spaces, rooftop summer kitchens, waterfront dining, wellness programming, and direct Baywalk access. Pricing reportedly starts at approximately $795,000 with project completion expected in 2028.

What This Means for Miami Luxury Real Estate

The announcement highlights how Miami’s luxury condominium market continues attracting international capital through both lifestyle-driven and immigration-related investment opportunities. Edgewater has become one of Miami’s fastest-growing residential districts as developers continue targeting waterfront sites near Downtown Miami, Wynwood, and the Design District. As global demand for U.S. residency opportunities and Miami luxury real estate remains strong, projects participating in the EB-5 program could continue drawing increased international investor interest.