The New York City Regional Center (NYCRC) offers investment opportunities pursuant to the EB-5 Investor Visa Program. NYCRC was approved by the United States Citizenship and Immigration Services (USCIS), a division of the Department of Homeland Security to secure foreign investment for real estate projects within Brooklyn, Queens Manhattan, and the Bronx. NYCRC works with government agencies, economic development not-for-profits, and private developers to fund a diversified portfolio of real estate projects â€" such as light industrial, manufacturing, civic, retail, hotels, office buildings, and mixed-use.
The EB-5 Program
The EB-5 Regional Center Program was established by the United States Congress to stimulate economic growth through foreign investment and is overseen by USCIS. The EB-5 Program’s mandate is to use foreign investment to spur American job creation while simultaneously affording eligible foreign investors the opportunity to become lawful permanent residents of the United States. Through the EB-5 Program, a person and their immediate family can obtain permanent residency in the United States by investing $500,000 into a Regional Center project located in a Targeted Employment Area which creates a minimum of 10 jobs for American workers. NYCRC project locations are reviewed and designated as Targeted Employment Areas by the New York State Department of Economic Development.
NYCRC EB-5 Funding
The EB-5 Program has become a contributor to New York City’s economic revitalization by helping to fund a series of public/private real estate projects that create jobs and investment. NYCRC projects include EB-5 funding to assist with the redevelopment of the Brooklyn Navy Yard, New York City’s largest industrial park, and funding to assist with the expansion of Steiner Studios, the city’s largest film and television production facility. The NYCRC is also providing funding for key components of the Atlantic Yards project as well as the redevelopment of Downtown Brooklyn’s central business district. EB-5 funding will also be used to assist with the redevelopment of the George Washington Bridge Bus Station and the continuing efforts to revitalize New York City’s East River waterfront and the growing business corridor in the Bronx.
References
External links
- Directory of EB-5 Funds
- Senate Testimony on the EB-5 Visa Program
- New York City Regional Center
