One of the key benefits of this exciting new EB5 project is that it is classed as a rural TEA project and therefore qualifies for priority processing.
This brand-new real estate community comprises of 1,000 family-sized residential units for sale, 300 rental residential units, 780,000 square feet of leasable commercial space, and various amenities and neighbourhood features built over three phases. The entire project has been planned for the Jewish community, to support their lifestyle and requirements, and to also combat the current housing shortage that the community face.
The total build is estimated at $250MM which is to be funded by 40% Equity, 20% in Government Infrastructure Investment and 40% from EB-5 investment. The project is being developed by a renowned developer with a strong track record.
- The project is located in a Rural Targeted Employment Area (TEA) under the most recent EB5 legislation;
- The project qualifies for the lower EB5 investment requirement of $800,000 instead of $1,050,000;
- The project has priority processing and visa ”set-asides” for backlogged countries (e.g., China, potentially Vietnam & India)
- Construction commenced in Q1 2023 and the estimated project completion is Q2 2027
For more details, please contact our team.