Immigration program provides $47M toward Bradenton apartments

EB-5 has been targeted by the Trump administration. But for now, the sometimes-complicated program is helping to fund an apartment community being built on the site of DeSoto Square Mall.

By Louis Llovio
| 5:00 a.m. August 28, 2025
| 0 Free Articles Remaining!

A North Carolina developer will build 240 apartments on property that was once part of DeSoto Square Mall.

Manatee-Sarasota

The lender behind a new apartment community to be built on the site of the former DeSoto Square Mall in Bradenton will finance the project, in part, with help from a federal program that allows it to solicit investments from individuals in foreign countries in exchange for a promised green card.

Atlanta-based Peachtree Group, which is originating the financing for the 204-unit Madison Bradenton for the developer Madison Capital Group, just won approval from the U.S. Citizenship and Immigration Services to include the community in the EB-5 Immigrant Investor Program.