BAI Capital, a private equity and real estate development firm, has launched its project for a luxury student housing complex named ALMA Miami. The complex, with a projected investment of $170.6 million, is strategically located less than a kilometer from Florida International University (FIU), which is the fourth largest public university in Florida. This location is significant as FIU can only accommodate 8% of its 54,000 students on campus, highlighting a housing gap that ALMA Miami aims to address.

The vertical complex will feature 26 levels, 565 units, and 644 beds designed with a concept of ‘functional luxury’. Following the approval of the Site Plan in January of 2026, the development schedule led by Juan Carlos Eguiarte anticipates that plans will be completed by May of this year, construction will start in January of 2027, and the final delivery is expected in the summer of 2029. This timeline reflects a well-organized strategy designed to meet the anticipated demand from students.

Moreover, beyond providing a return on investment in real estate, ALMA Miami is also positioned as a potential vehicle for individuals seeking permanent residency in the United States. This aspect adds an additional layer of appeal for many international students and investors, potentially increasing the demand for such luxury student accommodations and contributing to the area's economic growth.