Developer Christopher P. White hopes to returns with an $11 billion project

Real estate developer Christopher P. White is planning to make a comeback with a $11 billion project. White’s proposal  depends heavily on the federal EB-5 program.  White hired Arlington, Virginia-based lobbying firm J.M. Burkman & Associates to help secure federal funding. “One important observation: it is vital that we sell this as a regional and not just … Read moreDeveloper Christopher P. White hopes to returns with an $11 billion project

Seattle’s booming hospitality industry

With an unprecedented growth expected in the hospitality industry by the end of 2015, Seattle’s  hotel space is buzzing with new additions. The city is on the verge of adding an astonishing 4,000 new hotel rooms. Seattle is set to open over 1,000 rooms in the next 12 months followed closely by an additional 20-plus projects either in the permitting … Read moreSeattle’s booming hospitality industry

How does EB-5 program help cities build affordable housing?

EB-5 funds have been helpful in building low cost  houses in various cities like San Francisco and Miami. Real estate developers have been tapping the funds through this program to provide affordable houses. EB-5 funds helped build 115 affordable units at Stadium Place, for example which is an office-hotel-retail-residential project located in front of the Seattle … Read moreHow does EB-5 program help cities build affordable housing?

SEC charges Boca Raton company with unregistered broker-dealer activity in EB-5 investments

    Correction:Boca Raton-based Ireeco LLC and its successor, Hong Kong-based Ireeco Ltd., made history Thursday by being the first to be charged with unregistered broker activity in the EB-5 Immigrant Investor Program. The Securities and Exchange Commission brought the charges against the two companies, which allegedly brokered more than $79 million in EB-5 investments by acting … Read moreSEC charges Boca Raton company with unregistered broker-dealer activity in EB-5 investments

USCIS Transformation Program: One Billion Over Budget, Four Years Behind Schedule

Remember the transformation program USCIS launched years ago to convert their paper filing system to electronic filing? Well, after 10 years and billions of dollars, it is far from done. The U.S. Government Accountability Office recently released a report detailing their progress, and it isn’t pretty: The U.S. Citizenship and Immigration Services’ (USCIS) currently expects … Read moreUSCIS Transformation Program: One Billion Over Budget, Four Years Behind Schedule

Electronic processing of EB-5 petitions discontinued by USCIS

USCIS had announced on 16th June, 2015 that it had suspended the USCIS Electronic Immigration System (ELIS) for form I-526, Immigration Petition by Alien Entrepreneur. Additionally ELIS will also not support the Regional Center document library. This change will not affect the pending cases as of June 15, 2015. This was done due to challeges … Read moreElectronic processing of EB-5 petitions discontinued by USCIS

New York Wheel Project fully funded; begins foundation for vertical construction

The New York Wheel Project designed to be the tallest observation tower in the Western hemisphers is fully funded by an EB-5 loan of $150 million. Talking about CanAm Enterprises, Richard A.Marin, New York Wheel’s CEO said, “Using EB-5 financing for a project with as much public attention as this one would have been a daunting … Read moreNew York Wheel Project fully funded; begins foundation for vertical construction

Twin Peaks revokes Waco Franchise

Twin peaks restaurant chain based in Texas, revoked the franchise in Waco location after a biker gang shootout leaving nince people dead. “We are in the people business and the safety of the employees and guests in our restaurants is priority one,” Twin Peaks said in a statement. Twin Peaks corporate spokesman Rick Van Warner said that … Read moreTwin Peaks revokes Waco Franchise

Federal Judge rules in favor of All Aboard Florida

All Aboard Florida (AAF) got a ruling in its favor in the sale of bonds case. US District court judge Christopher Cooper in Washington, D.C., denied the efforts of Indian River and Martin counties to temporarily block issuance of the private-activity bonds by the Florida Development Finance Corp. This decision ensures that AAF project will have bonds to … Read moreFederal Judge rules in favor of All Aboard Florida

Former New York Governor criticizes the EB-5 Program

  Former governor of New york, Eliot Spitzner was critical of the EB-5 program. He said, the idea of foregin investors “buying” a path to citizenship “rubs me the wrong way.” He was speaking at ‘Only Brooklyn real estate summit’ at the Brooklyn Academy of Music. Spitzer added that he was a big supporter of immigration reform … Read moreFormer New York Governor criticizes the EB-5 Program

Real Estate firms turning to EB-5 in NYC

  Real Estate firms are more and more indulging in the business of EB-5. The latest example being Greystone, which has applied to become EB-5 regional center in New York. Greystone is a real estate lending and investment firm and hopes to utilize the funds it would raise through the regional center to possibly develop its future … Read moreReal Estate firms turning to EB-5 in NYC

Visa Program for Wealthy Foreigners Has ‘Serious Security Challenges,’ Homeland Whistleblower Says

  A senior federal agent became the first insider Wednesday to publicly expose what she said were serious national security concerns surrounding a controversial immigration program that has been providing Green Cards to wealthy foreigners. Senior Special Agent Taylor Johnson said her Homeland Security investigation uncovered visa applicants from China, Russia, Pakistan and Malaysia who … Read moreVisa Program for Wealthy Foreigners Has ‘Serious Security Challenges,’ Homeland Whistleblower Says

A first of its kind Immigration Heritage Month launch by World Way in China

Worldway Group is launching the first-ever heritage month across 7 cities in China including Beijing, Shenzhen, Shanghai, Guangzhou, Qingdao, Hong Kong and Macau.This is in response to Chicago City Council’s decision in 2014, to assign June as the Immigration Heritage month, which threafter is observed in over 100 cities and towns of the United States. Worldway … Read moreA first of its kind Immigration Heritage Month launch by World Way in China

Gorman & Co. completes the purchase of Amerock building

Gorman & Co. that plans to turn the Amerock factory building into a 160-suite hotel and conference room, completed the purchase from the City of Rockford. According to the contract approved by Rockford City council, Gorman bought the building at $25,000.  Gary Gorman, the CEO of the company specializes in historic buildingsand revitalizing urban neighborhoods. The … Read moreGorman & Co. completes the purchase of Amerock building

July 2015 Visa Bulletin: Cutoff Date for EB-5 Retrogression Moves Forward to September 1, 2013

The Department of State’s (DOS) July Visa Bulletin brings some good news for China indicating that that the EB-5 immigrant visa category will advance by four months for China, from May 1, 2013 to September 1, 2013. EMPLOYMENT-BASED PREFERENCES Fifth:  Employment Creation:  7.1% of the worldwide level, not less than 3,000 of which reserved for investors in a … Read moreJuly 2015 Visa Bulletin: Cutoff Date for EB-5 Retrogression Moves Forward to September 1, 2013

Long-delayed Capitol district project back on track

Shamrock Development President, Mike Moyaln stated that the long-delayed $205 million Capitol district project is back on track and is expected to open in 2017. He said that the scope of the project has not changed. Between 10th and 12th Streets, Capitol Avenue and the Interstate will rise a 333-room Marriott hotel, 226 rental apartments, … Read moreLong-delayed Capitol district project back on track

CanAm’s EB-5 loan fully repaid

CanAm Enterprises, LLC announced that its project, an EB-5 loan of $100 million to a major film studio in Los Angeles, was fully repaid and more than 1,100 investor families have received 100% capital repayment amounting to $555.5 million. The loan was used to fund film and television productions in targeted employment areas in Los Angeles county. “As … Read moreCanAm’s EB-5 loan fully repaid

New York attracts Chinese investment

The real estate market in the city of New York attracts strong financial support from both international and domestic investors. The Chinese investments in particular have been growing rapidly with an investment of over $5 billion into New York  since 2013 from the individual investors. Some of the projects that are attracting this huge amounts of money include Waldorf … Read moreNew York attracts Chinese investment

Congress to reform EB-5 visa program

The Senate Bill 101 introduced by Senators Patrick Leahy, D-Vt., and Chuck Grassley, R-Iowa aims to reform the EB-5 program. It includes to correct weaknesses like the misdirection of money to prosperous areas.  The senators said the bill would “help to restore the program to its original intent, by ensuring that much of the capital generated … Read moreCongress to reform EB-5 visa program

USCIS I-485 Statistics – January to March, 2015

United States Citizenship and Immigration Services (USCIS) published the latest performance data of I-485 Applications to Register Permanent Residence or Adjust Status. Below is a summary of the total number of I-485 cases by category. For more detailed statistics including service center and field office data, please click here.  I-485 Applications Performance Data (1/1/2015 – … Read moreUSCIS I-485 Statistics – January to March, 2015