Blue Road and Ilia Development Group Launch Sales of The William, a 26-Story Condo Project in North Miami Beach

Blue Road, led by CEO Jorge Savloff, and Ilia, led by investment banker Germán Osorio, have launched sales for their latest project: The William. The planned 26-story condo tower will be located on Northeast 163rd Street in North Miami Beach, on a 1.1-acre property currently occupied by a medical office building. The developers are targeting EB-5 investors, with a minimum investment of $1.05 million, to fund the project.

This isn't the first time Blue Road and Ilia have turned to EB-5 funding for their projects. The William joins a growing list of developments that have taken advantage of this controversial financing method, which has faced criticism for its lack of oversight and potential for fraud.

Despite the controversy surrounding EB-5, developers continue to tap into this source of funding due to its low interest rates and lack of repayment requirement. But while developers may benefit, it's unclear how much the community will benefit from these projects.

According to Miami attorney and land use expert, Brian Adler, "EB-5 is a game of soft corruption. Developers get access to cheap capital, and politicians get access to campaign contributions. But who ultimately pays the price? The community."

Originally reported by The Real Deal.

https://therealdeal.com/miami/2025/09/25/blue-road-ilia-plan-north-miami-beach-condo-project/