BAI Capital has formally launched key development phases of ALMA Miami, a $170.6 million student-housing project positioned as a major investment opportunity for Latin American capital in South Florida.
The project will be located just 0.6 miles from Florida International University (FIU). It’s one of the largest public universities in the state of Florida with more than 54,000 students from over 130 countries. The proximity to the campus is central to the project’s investment thesis, as FIU currently has the capacity to house only about 8% of its student population.
BAI Capital launches $170M ALMA Miami real estate project with Green Card investment option
The project aims to address that demand through a 26-story residential tower designed specifically for student housing. The development will feature 565 units, 644 beds, and 644 parking spaces, built under what developers describe as a “functional luxury” concept that blends high-end amenities with academic-focused living environments.
ALMA Miami, secured Site Plan approval in January 2026, and the development timeline anticipates completion of architectural plans by May this year. Groundbreaking is scheduled for January 2027, with delivery expected by summer 2029.
The building will include a range of amenities tailored to the modern student lifestyle and digital economy, including study and coworking spaces equipped with collaborative technology, a fitness center and yoga studio, and a rooftop pool deck with panoramic views of Miami. Additional features include social lounges, gaming areas, and specialized TikTok studios and podcast suites, reflecting the growing demand among younger residents for content-creation infrastructure.
For international investors — particularly from Mexico and Latin America — ALMA Miami is also structured to participate in the EB-5 Immigrant Investor Program, allowing qualified investors to pursue U.S. permanent residency through investment.
“In today’s environment of financial volatility, Mexican investors are increasingly seeking dollar-denominated assets that provide both returns and legal certainty,” said Juan Carlos Eguiarte, Country Manager of BAI Capital in Mexico. “ALMA Miami represents a direct bridge to the world’s strongest economy through a tangible asset with clear market demand.”
According to Eguiarte, the investment structure complies with the EB-5 Reform and Integrity Act of 2022, enabling investors and their families to relocate to the United States while their permanent residency applications are processed.
Beyond its investment appeal, the project is expected to have a meaningful economic impact in the region. Developers estimate that ALMA Miami will generate approximately 1,875 jobs, significantly exceeding the employment thresholds required by the EB-5 program.
BAI Capital has partnered with several established U.S. firms to execute the project, including BKV Group as the lead architect, HITT Contracting Inc. for construction, and Asset Living, a property management company with more than four decades of experience in residential and student housing operations.
With strong demand for student housing near FIU and continued interest from international investors seeking stable U.S. real estate assets, ALMA Miami is positioned as a notable addition to the South Florida investment landscape.
