North Palm Beach based Driftwood Hospitality Management has announced the creation of a new EB-5 division. Driftwood hopes to attract foreign investors who can fund or help fund U.S. hospitality projects. The EB-5 visa program allows foreigners who invest up to $1 million in projects that create at least 10 jobs to secure a U.S. visa. Driftwood broke ground on its first EB-5 project earlier this month with the Residence Inn by Marriott located at 11500 NW. 105th Street in Miami. The $22.2 million project is slated to open in January 2016. The company said its next EB-5 endeavor will be a Canopy by Hilton in West Palm Beach.
