The 19,000-Pound Gorilla in the Room

As two extension deadlines came and went for the EB-5 Regional Center Program at the end of 2015, it became clear that meaningful reform for the program would have to wait. Ultimately, the program’s fate was wrapped up in larger federal spending legislation passed at the eleventh hour, extending it–as is–through the end of the … Read moreThe 19,000-Pound Gorilla in the Room

Flow of ‘medical tourists’ from China to start early

Patients are expected to arrive in the midst of a project to convert a former factory in Auburn into post-surgical housing. A banner announces the $50 million medical tourism project that’s planned for the former shoe factory at 81 Minot Ave. in Auburn. This site and an adjacent former police station have been sold to … Read moreFlow of ‘medical tourists’ from China to start early

Congress Amends the Visa Waiver Program Indicates Immigration Attorney Stewart Rabinowitz

On December 18, 2015, President Obama signed the Consolidated Appropriations Act for Fiscal Year (FY) 2016. The bill contained several immigration provisions which amended the Visa Waiver Program (VWP) and extended several programs until September 30, 2016, including E-Verify, Special Immigrant Religious Workers, The Conrad 30, and EB-5 Regional Centers provisions. The appropriations law changed … Read moreCongress Amends the Visa Waiver Program Indicates Immigration Attorney Stewart Rabinowitz

Revealed: Madison Equities’ 45 Broad condo tower

Madison Equities and the Pizzarotti Group’s 1,000-foot condo tower at 45 Broad Street will be a soaring golden colossus with a slim midsection and a hulking top, according to new renderings obtained by The Real Deal. That’s according to marketing materials, including early renderings, circulated among prospective Chinese investors, who may contribute money for the … Read moreRevealed: Madison Equities’ 45 Broad condo tower

Senate advances anti-corruption board

The Daugaard administration’s proposal to deter corruption in state government and throughout South Dakota’s public education system won unanimous approval Wednesday from the state Senate. The 35-0 vote to create a new state Board of Internal Control sends SB 162 to the House of Representatives. The House has already approved 67-0 a separate measure to … Read moreSenate advances anti-corruption board

People in the News—Feb. 25, 2016—Las Vegas EB-5 Conference

Klasko Immigration Law Partners attorneys Ronald Klasko and Daniel B. Lundy received awards for their expertise and leadership in the EB-5 industry during the third annual Las Vegas EB-5 Conference sponsored by EB5 Investors Magazine. Klasko was recognized as the “thought leader” in EB-5, and Lundy was recognized as the “go to” attorney for complex … Read morePeople in the News—Feb. 25, 2016—Las Vegas EB-5 Conference

India plans investment-linked residency permits for foreigners

India is planning to offer an investment­-linked residency permit for foreign companies that invest Dh7.34 billion ($2 billion) in the country, according to a media report. “If a foreign company invests $2 billion, it will get residency permits allowing long stay in India for its key executives as well as cheap rates for utilities and … Read moreIndia plans investment-linked residency permits for foreigners

Developers say family key to Bright Oaks in Aurora

The key word at the Bright Oaks of Aurora ribbon-cutting Tuesday was family. And nowhere was that more evident than with Bright Oaks’ developers, Nader Kameli, the chief executive officer, and his brother, Taher, a lawyer and Nadel’s business partner. After the ribbon was cut on the 53,432-square-foot senior living center at 1340 River St. … Read moreDevelopers say family key to Bright Oaks in Aurora

As deadline nears, fate of Kingsbridge development unclear

A longstanding plan to build an ice rink at the site of the former Kingsbridge Armory in the Bronx will hit a critical deadline next month, when it must present a substantial chunk of funding in order to get a lease from the de Blasio administration to go forward. But as the date approaches, the … Read moreAs deadline nears, fate of Kingsbridge development unclear

D.M. doubles down on convention hotel loan

The Des Moines City Council approved a $10 million guarantee on Monday to help build a convention hotel connected to the Iowa Events Center downtown. The city’s bolstered commitment accommodates a restructured financing package that will replace a foreign investment program initially proposed for the project. Polk County approved nearly $30 million earlier this month … Read moreD.M. doubles down on convention hotel loan

Patrick Murphy goes on offense against Senate opponent Alan Grayson’s hedge funds

U.S. Rep. Patrick Murphy has been going on the offensive against his U.S. Senate primary opponent, taking advantage of recent bad headlines about U.S. Rep. Alan Grayson’s controversial hedge funds. Grayson also has shown his teeth, attacking Murphy for money a super PAC that supports him took from a businessman who would have benefitted from … Read morePatrick Murphy goes on offense against Senate opponent Alan Grayson’s hedge funds

Valley Cities investigates sale of Woodmont Recovery Center site in Des Moines

Valley Cities – Behavioral Health Care provides counseling and drug use recover services to more than 7,500 people at seven locations in King County. Ken Taylor, CEO of Valley Cities – Behavioral Health Care, signed an agreement on Thursday, Feb. 18, with a potential buyer of the Woodmont property to enter into a 45-day period … Read moreValley Cities investigates sale of Woodmont Recovery Center site in Des Moines

Old mill spins new apartment project

The American Spinning Mill, part of Greenville’s textile heritage, has sold to a Virginia developer who plans to turn the former mill into loft-style apartments. The American Investor Immigration Funds company, ASGA LP, plans to transform the historic textile mill into 230“market-rate” apartment units totaling 240,000 square feet. The planned development will cost an estimated $49.8 … Read moreOld mill spins new apartment project

Inside Randall Davis’ new Astoria luxury condo tower in Uptown

Randall Davis Co. is nearing completion on the Astoria, a new luxury condominium tower in the Galleria/Uptown area and the first of three such projects the Houston developer has underway. Developer Randall Davis along with his parnters DC Partners and Roberto Contreras have been under construction for about two years on the 29-story high-rise at 1409 … Read moreInside Randall Davis’ new Astoria luxury condo tower in Uptown

Developers update City of Rockford on Amerock hotel project

There are fears that plans for a major downtown Rockford hotel will fall through. In an email to the City of Rockford, developers say they’re committed to this project and are working to make it happen, but there are possible roadblocks. Last week, Rockford aldermen got the good and the potentially not-so-good news about the downtown Amerock … Read moreDevelopers update City of Rockford on Amerock hotel project

Dargey, allies seek to keep Potala Tower project going

Path America founder Lobsang Dargey and others are asking a federal judge to reject a court-appointed receiver’s proposal to sell the unfinished Potala Tower in downtown Seattle, which was financed by overseas investors seeking EB-5 visas. Dargey, who is accused by federal regulators of fraud, lost control of his Everett-based company Path America in October, when a federal judge handed … Read moreDargey, allies seek to keep Potala Tower project going

Why EB-5 got nixed from D.M. hotel plan

Disagreement over which funds should be secured first scuttled plans for foreign investors to help fund downtown’s convention hotel. It was a chicken-or-the-egg scenario. Plans to use a complex foreign investment program known as EB-5 to help pay for a convention hotel in downtown Des Moines were scuttled because of a disagreement over which funds should … Read moreWhy EB-5 got nixed from D.M. hotel plan

More Civitas EB-5 Investors Receive Permanent Residency and Return of Capital

2011 Investment Helped Catalyze Economic Development in Southern Dallas Submarket Civitas EB-5 Capital (“Civitas”) is pleased to announce that nine (9) investor families in Civitas Zang Triangle Fund, LP, have received unconditional permanent United States residency through the City of Dallas Regional Center (“CDRC”) and full repayment of their investment. The CDRC is a public-private partnership between the City … Read moreMore Civitas EB-5 Investors Receive Permanent Residency and Return of Capital

Developers of 125 Greenwich in talks with Singaporean bank for $500M-plus construction loan

United Overseas Bank preparing term sheet to finance FiDi supertall The developers of a supertall Financial District condominium tower at 125 Greenwich Street are in advanced talks to land just north of $500 million in construction financing, separate from a round of EB-5 funding, The Real Deal has learned. The lender, sources said, is Singapore’s United Overseas … Read moreDevelopers of 125 Greenwich in talks with Singaporean bank for $500M-plus construction loan

Beninati’s Bauhouse seeks $80M mezz loan for 3 Sutton Place

Developer scales back plans for East Side skyscraper, which is now projected to cost $750M-plus Joseph Beninati’s Bauhouse Group is seeking an $80 million mezzanine loan to fund his troubled residential skyscraper project at 3 Sutton Place, according to investor documents reviewed by The Real Deal. The upcoming tower at 426-432 East 58th Street, which is … Read moreBeninati’s Bauhouse seeks $80M mezz loan for 3 Sutton Place

$120M Washington Place brings hotel, apartments to Southcenter

Absher Construction recently finished the concrete grade slabs and started building post-tensioned decks that will make upWashington Place, a $120 million, 19-story hotel and apartment complex one block east of Westfield Southcenter. The site is at 223 Andover Park E. in Tukwila. To create the floors, Absher has scheduled two major concrete pour days per … Read more$120M Washington Place brings hotel, apartments to Southcenter

After EB-5, Gear Up scandals, Daugaard calls for internal controls

Gov. Dennis Daugaard filed a bill Thursday that would respond to a perceived lack of state control over outside groups that administer state grants and programs like those at the center of the state’s EB-5 and Gear Up scandals. The bill, which was put forth on Daugaard’s behalf by the Senate Government Operations and Audit … Read moreAfter EB-5, Gear Up scandals, Daugaard calls for internal controls

Foreign investors sue over stalled Short Vine development

Chinese investors who contributed to a stalled Short Vine development project in Corryville as part of a federal program to gain residency are suing the developers, claiming their money was mishandled. A group of 10 Chinese nationals is suing the Midwest EB5 Regional Center, its former principals and the landowner and developer of the project in … Read moreForeign investors sue over stalled Short Vine development

2016 Invest in America Summit and Exhibition to Be Held in China in March

The 6th Annual Invest in America Summit will be held March 12-13, 2016 in Shanghai at the Ritz-Carlton Hotel Pudong, followed by additional stagings at the Ritz Carlton Hotels in Beijing on March 17, 2016 and in Shenzhen on March 19, 2016. Event organizers are also pleased to announce that Plug & Play will serve … Read more2016 Invest in America Summit and Exhibition to Be Held in China in March