Two Miami properties, purchased for a total of $27 million by developer Fu Jing Wu (AKA Leo Wu), are set to be auctioned off. One parcel of land was supposed to be a mixed-use project with 139 hotel rooms, 324 apartments, and 25,000 square feet of commercial space; construction on the site stalled and the city has since declared it unsafe. The other property remains undeveloped. Wu collected $52 million from 132 Chinese EB-5 investors.
South Florida Business Journal article (subscription required)
