Construction starts on massive $6 billion Treasure Island redevelopment

Infrastructure work has begun on the $6 billion Treasure Island and Yerba Buena Island redevelopment, one of the largest mixed-use projects in the Bay Area with 8,000 residential units planned. A development partnership of Lennar Urban (NYSE: LEN), Kenwood Investments, Stockbridge Capital Group and Wilson Meany started work last week, which will include demolition of … Read moreConstruction starts on massive $6 billion Treasure Island redevelopment

Healthcare occupations represent 9% of employment in May 2015

Healthcare occupations had employment of 12 million in May 2015, representing nearly 9 percent of total national employment. Registered nurses (2.7 million), nursing assistants (1.4 million), and home health aides (820,630) were the largest healthcare occupations. Please follow and like us:

CanAm’s 29th Project Repayment Marks New Milestone: 1,333 EB-5 Investors Repaid

CanAm Enterprises, LLC (“CanAm”) has reached another milestone! On March 23rd, 2016, the Valley Forge Convention Center repaid its loan in full and early to its 80 investors. It is CanAm’s 29th EB-5 project to be fully repaid. To date, $666.5 million representing 1,333 immigrant investor families, have been repaid by CanAm’s EB-5 projects. The … Read moreCanAm’s 29th Project Repayment Marks New Milestone: 1,333 EB-5 Investors Repaid

Tishman Speyer looking to raise EB-5 capital for Macy’s redevelopment plan

Tishman Speyer is soliciting funds for the redevelopment of Macy’s former Brooklyn headquarters on Fulton Street, according to marketing materials provided to prospective Chinese investors. The developer is looking to raise $60 million in mezzanine financing using the EB-5 program, an immigration scheme that allows foreigners to obtain green cards by investing at least $500,000 … Read moreTishman Speyer looking to raise EB-5 capital for Macy’s redevelopment plan

The demand for EB-5 visas is greater than ever

A lot foreign investors tried to clamber aboard the EB-5 train in 2015, fearing it would leave the station. The number of applications for the controversial investments-for-visas program climbed to just under 17,791 in 2015, up from just over 11,744 in 2014 and 6,554 in 2013, according to U.S. Citizenship and Immigration Services. The EB-5 … Read moreThe demand for EB-5 visas is greater than ever

Private Equity Fund Formation in China: Is this the Future?

Private equity funds have become a staple of investment in every industry sector from real estate to technology to energy to healthcare and more. The investment success of private equity funds has enabled growth in the overall economy and has been a saving grace to many private and public firms who have had difficulty in … Read morePrivate Equity Fund Formation in China: Is this the Future?

Hudson looks to raise $110M from EB-5 investors for Brooklyn library project

Hudson Companies plans to seek an infusion of Chinese capital in the form of EB-5 for its Brooklyn Heights library redevelopment project, which includes a 36-story condominium tower. The David Kramer-led development firm is planning to raise up to $110 million for the project through the popular immigration program, which awards foreign investors a U.S. … Read moreHudson looks to raise $110M from EB-5 investors for Brooklyn library project

DOS Releases April 2016 Visa Bulletin; Charlie Oppenheim ‘Checks-in’

The Department of State (DOS) has released the April 2016 Visa Bulletin, with the Application Final Action Date chart for employment-based applications reflecting some substantial movement. Notably, the 2nd preference category for China-mainland born applicants has moved ahead one month to Sept. 1, 2012, and for India born applicants it has moved ahead a few … Read moreDOS Releases April 2016 Visa Bulletin; Charlie Oppenheim ‘Checks-in’

2016 Invest in America Summit Series Part 2 – Issues and Results

On March 17, I attended the 6th Annual Invest in America Summit held in Beijing. As a follow-up to my post last week, I will address the following issues that resulted from the conference. Too many deals available. The market, especially in China, has been bombarded with an enormous number of credible projects. Therefore, good … Read more2016 Invest in America Summit Series Part 2 – Issues and Results

Do Bonds and EB-5 Investment Go Together?

  EB-5  is a growing and acceptable financing methodology as part of the capital stack in many U.S. projects, with real estate assets remaining the primary focus for investment of such capital. As other projects seek to take advantage of this opportunity to attract capital, the question arises as to whether government bond financed projects are … Read moreDo Bonds and EB-5 Investment Go Together?

Alan Grayson Says Patrick Murphy Has Best Endorsment “Money Can Buy"

At this point, Alan Grayson isn’t surprised that yet another Democrat has endorsed Patrick Murphy in their battle for the Democratic nomination for U.S. Senate in Florida, even if it’s the much-lauded Bob Graham. “If you take a look at the polling for those who pitted his daughter against me and Patrick, his daughter came … Read moreAlan Grayson Says Patrick Murphy Has Best Endorsment “Money Can Buy"

Stenger Refutes Rumors of Demise, Says Q Burke Making Progress With Debts

Bill Stenger, general partner for Q Burke Mountain Resort, said Friday the hotel’s partners are working hard to pay the money still owed to the general contractor for the new $50 million hotel at the resort – which is completed, but not open because of the outstanding obligations. Stenger said the hotel’s owners expect to … Read moreStenger Refutes Rumors of Demise, Says Q Burke Making Progress With Debts

Receiver finds Potala Place ‘in chaos’ with no viable business plan

Local developer Lobsang Dargey’s latest Everett project — Potala Place and Farmer’s Market — promised to add a hipster touch to downtown’s gritty reputation with its street-level market featuring an artisan bakery and farm-to-fork dishes. But a court-appointed receiver says that the project has no viable business plan, and his development consultant told a federal … Read moreReceiver finds Potala Place ‘in chaos’ with no viable business plan

EB-5 Notes: A Court Case, OIG Reminders, and a N.Y. Times Review

There’s a lot going on in the usually shuttered world of the EB-5 (immigrant investor) program. There is an intriguing new court case, reminders by the DHS inspector general that the program has not taken basic steps for reform laid out years ago, and a sober New York Times review of the whole scene. The … Read moreEB-5 Notes: A Court Case, OIG Reminders, and a N.Y. Times Review

Lam Group lands $222M loan from Shanghai bank for Virgin Hotel

The Lam Group can move ahead with plans to build its 465-key Virgin Hotel in NoMad after scoring a $222 million construction loan from the Shanghai Commercial Bank. The development firm, headed by Hong Kong native John Lam, secured financing in late February for the 400,000-square-foot project at 1205-1227 Broadway, located between 29th and 30th … Read moreLam Group lands $222M loan from Shanghai bank for Virgin Hotel

Tibor Hollo wants to build taller Panorama Tower

Panorama Tower will already be the tallest residential high-rise on the eastern seaboard south of New York, but developer Tibor Hollo wants to take it a little higher. The 83-story, 822-foot tower is already under construction, but Hollo’s Florida East Coast Realty filed a request with the Federal Aviation Association to 868 feet above ground, … Read moreTibor Hollo wants to build taller Panorama Tower

The Future of the EB-5 Program

The Immigrant Investor Program, also known as “EB-5,” provides a means for foreign nationals to obtain Lawful Permanent Resident Status (a “Green Card”) in the United States through specific types of investments, thus affording them with the opportunity to live and work permanently in America. Congress created the EB-5 program in 1990 to stimulate the … Read moreThe Future of the EB-5 Program

Carlton Group sues Bizzi, Shvo over commission at 125 Greenwich

With the ink barely dry on financing for Bizzi & Partners and Michael Shvo’s planned tower at 125 Greenwich Street, the Carlton Group has filed a lawsuit against the developers and is seeking nearly $4 million worth of unpaid commission. The Howard Michaels-led firm is alleging that Bizzi and Shvo breached an exclusive agreement made … Read moreCarlton Group sues Bizzi, Shvo over commission at 125 Greenwich

Bizzi, Shvo hit their $175M EB-5 mark for 125 Greenwich Street

Davide Bizzi’s Bizzi & Partners, Michael Shvo and Howard Lorber’s New Valley raised $175 million through the EB-5 program from the Chinese for their 91-story tower at 125 Greenwich Street. The Real Deal reported in February that the developers were about halfway to reaching their fundraising goal through the EB-5 program, which grants foreign investors … Read moreBizzi, Shvo hit their $175M EB-5 mark for 125 Greenwich Street

If the EB-5 Developer Can’t Count the Zeroes, Look for Another Broker

An as example of how slipshod some EB-5 offers can be, here’s a developer who has run an uncorrected proposal on the Internet for weeks that manages to confuse $1.575 billion with $157.5 million. The EB-5 program offers a family-sized set of green cards to aliens ponying up $500,000 investments. The proposal sounds, at first, … Read moreIf the EB-5 Developer Can’t Count the Zeroes, Look for Another Broker

Revenue down 16% at Peak Resorts after poor skiing weather

Peak Resorts Inc., the Wildwood-based owner and operator of ski resorts, reported a fiscal third-quarter profit of $3.7 million on revenue of $38.7 million. Revenue in the recent quarter fell 16 percent from nearly $46 million in the prior year’s quarter. Peak Resorts’ net income rose 13 percent in the recent quarter compared with $3.3 … Read moreRevenue down 16% at Peak Resorts after poor skiing weather

Indians making a beeline for EB-5 visa to get Green Card

Interest is increasing in India for the EB-5 visa program, which gives a Green Card for the applicant and his immediate family members, for investing a minimum of $500,000 in a USCIS approved project in the United States. There’s been a 25% increase in 2016, over the previous year’s number of applicants for EB-5 visa, … Read moreIndians making a beeline for EB-5 visa to get Green Card

Openness in government: Let the sun shine in

This week is Sunshine Week, a national observance to spotlight the importance of openness and transparency in government at all levels. Open government is fundamental to good government. Openness builds citizen trust and confidence in government. Over the years South Dakota has made strides toward openness and transparency. Among those achievements: Source: http://www.capjournal.com/opinions/editorial/openness-in-government-let-the-sun-shine-in/article_1da84b50-e996-11e5-ab90-232a2c7691bb.html Read more by … Read moreOpenness in government: Let the sun shine in

Chinese developers muscling in to Bay Area housing market

The flood of Chinese money into Bay Area housing is coming not just from home buyers. Developers and investors are also building and backing large residential projects here. They mainly want to diversify away from China’s overbuilt market but also serve Chinese buyers wanting a home in the Bay Area. The only U.S. metro area … Read moreChinese developers muscling in to Bay Area housing market

One-on-One: Bluegrass International Fund CEO Lynn Allen

EB-5 program can create jobs, finance development and market state globally, says Bluegrass International Fund CEO Lynn Allen Mark Green: Bluegrass International Fund, founded in late 2013, invests in economic development projects on behalf of overseas investors who seek permanent green-card status under the Department of Homeland Security’s EB-5 Regional Center Program. Investors must put … Read moreOne-on-One: Bluegrass International Fund CEO Lynn Allen

Super PAC backing Rep. Murphy’s U.S. Senate bid may have accepted illegal contributions

Floridians for a Strong Middle Class, a super PAC supporting Democratic Rep. Patrick Murphy’s U.S. Senate bid, may have accepted $50,000 in illegal, possibly criminal contributions from a limited liability company owned by Nicholas Mastroianni II, a Palm Beach investment broker and developer with a checkered business past. “It appears to be a straw donation, or … Read moreSuper PAC backing Rep. Murphy’s U.S. Senate bid may have accepted illegal contributions

Uptick in EB5 visa applications to US from Indian businessmen

Immigrant EB5 visas, for small business that create jobs in the US, have seen a spurt of interest in India with applications under this quota increasing 25% year over year, say sources. For the first 70 days of 2016, 130 EB5 visas have been granted by the US government for Indian businesses, while only 111 … Read moreUptick in EB5 visa applications to US from Indian businessmen

Update on NEK economic development/EB-5 projects

Northeastern Vermont Development Association David Snedeker, NVDA Executive Director in the following report updates economic development projects in the Northeast Kingdom, including at Q Burke, the airport and at AnC Bio in Newport. Along with construction and planning, workforce development will require a major effort. NEK Economic Development / EB-5 Projects Q-Burke Mountain Hotel  EB-5 … Read moreUpdate on NEK economic development/EB-5 projects

Chinese investors could help fuel southwest Charlotte apartment development

The EB-5 visa program offers green cards to foreign investors for $500,000 It’s grown tremendously in popularity in China Sycamore at Tyvola apartments will total 288 units A visa program that offers foreign investors the chance to get a green card for a $500,000 investment in a U.S. development is potentially helping fuel a new … Read moreChinese investors could help fuel southwest Charlotte apartment development

The EB-5 Program: What Foreign Investors Should Consider

Since 1990, the United States has offered a path to permanent U.S. residence for enterprising foreign investors. In the U.S. EB-5 Immigrant Investor Program, a foreign investor commits a certain amount of capital to a project that will create or preserve a minimum of 10 full-time jobs for American workers. Successful participation in the program … Read moreThe EB-5 Program: What Foreign Investors Should Consider

Trump Tower funded by rich Chinese who invest cash for visas

Donald Trump continually vilifies China but without them he might not get his next building project off the ground. Throughout his presidential campaign, Donald Trump has attacked China and warned about the dangers of deficient immigrant screening. “They’ve taken our jobs, they’ve taken our money, they’ve taken everything,” he said of China in a speech … Read moreTrump Tower funded by rich Chinese who invest cash for visas