What it’s like to live on the 123rd floor of the world’s tallest condo tower

Topping off at 1,550 feet, with 131 floors, Central Park Tower will be the world’s tallest residential building. It may also be the most expensive condo project ever, with up to $4 billion worth of apartments to be sold. The building’s 179 apartments will start at $7 million for a two-bedroom and likely soar to nine-figures for … Read moreWhat it’s like to live on the 123rd floor of the world’s tallest condo tower

16 more Chinese investors sue developer, lender over Vail condo project Solaris

The condo Solaris in Vail. Sixteen more Chinese nationals who invested in a high-profile condo project in Vail in exchange for a green card have sued the developer and the entity through which their money was funneled. The lawsuit filed this week by the individuals, who each put up $500,000 toward the Solaris development part of the … Read more16 more Chinese investors sue developer, lender over Vail condo project Solaris

Houston EB5 is coming to Nigeria

Houston eb5 announces Nigeria visit plans an investor open house and launch of Nigerian office at Lagos Cowork Join 3Invest and Houston EB5 to learn how your Nigerian success can become your American privilege through US Government approved investment opportunities that provide the most secure pathway to United States citizenship.   Source: https://www.pulse.ng/bi/strategy/houston-eb5-is-coming-to-nigeria/9mwe8wp Read more by clicking below … Read moreHouston EB5 is coming to Nigeria

Vermonters ready for an Ethics Commission that restores trust

The author argues that officials who were tied to the EB-5 investment scandal involving Jay Peak could have drawn scrutiny from a strong ethics commission.  Bill Schubart is a regular columnist for VTDigger. He is a retired businessman and active fiction writer, and was a former chair of the Vermont Journalism Trust, the parent organization for VTDigger. … Read moreVermonters ready for an Ethics Commission that restores trust

200 Asian investors victims of California’s largest EB-5 fraud ever?

A prominent Oakland businessman and two others are accused of committing a massive EB-5 fraud that could be the largest of its kind in state history. The trio took in $110 million from over 200 investors, and promised to create 2,000 jobs but are accused of using the money for their own real estate purchases.  The San Francisco … Read more200 Asian investors victims of California’s largest EB-5 fraud ever?

Chinese EB-5 investors sue developer of Colorado resort over ‘rigged’ loan, & claim they didn’t understand paperwork

13 Chinese investors who put their money into the $375 million Solaris project in Vail claim they’ve been defrauded and are suing the developer, Peter Knobel, and his Colorado regional center. The investors say the loan was “rigged” so that they would never get their money back. They also contend that because of the language barrier, they never … Read moreChinese EB-5 investors sue developer of Colorado resort over ‘rigged’ loan, & claim they didn’t understand paperwork

Alterra Mountain Co. eyes Jay Peak, Vail takes a pass

Vail Resorts, a ski industry behemoth that has been gobbling up local resorts in recent years, is not interested in Jay Peak. Other companies, however, have visited the Northeast Kingdom resort, a company official told a local town board during a recent meeting. One could-be buyer that toured Jay Peak is a rival of Vail … Read moreAlterra Mountain Co. eyes Jay Peak, Vail takes a pass

McAllen hoping to enhance investment opportunities with Houston

The city of McAllen is partnering with the city of Houston in hopes of enhancing investment opportunities in the Rio Grande Valley. The McAllen EB-5 Regional Center Hosting a ceremony at the Cambria Hotel making the partnership official. The EB-5 program was created by congress in 1990 and allows foreign investors who create new job opportunities in the U.S. … Read moreMcAllen hoping to enhance investment opportunities with Houston

A VTDigger Legal Fight Reveals That Key EB-5 Docs Are Missing

A protracted legal battle between a Vermont news outlet and the state attorney general has revealed gaps in the public record of how the state oversaw a fraudulent development project. According to a tech company hired to track down the missing emails of a state official, many appear to have been deleted years before the … Read moreA VTDigger Legal Fight Reveals That Key EB-5 Docs Are Missing

Step One Of The EB-5 Process: Questions To Ask, Decisions To Make

Step one of the EB-5 process is often the most challenging for investors because it involves conducting a lot of tedious research and making a lot of careful decisions that carry varying degrees of risks. Despite this, the EB-5 Direct Investment Program and the Regional Center Program are extremely popular pathways for foreign nationals to … Read moreStep One Of The EB-5 Process: Questions To Ask, Decisions To Make

Criminal case to delay state auditor EB-5 report

VT State Auditor of Accounts Doug Hoffer at his office in Montpelier in 2019.  Vermont State Auditor Douglas Hoffer’s effort to find out who knew what when in state government related to the EB-5 scandal in the Northeast Kingdom appears to have hit a speed bump. The Vermont Attorney General’s Office has called on the … Read moreCriminal case to delay state auditor EB-5 report

Senator Rand Paul Seeks Congressional Action to Halt EB-5 Program Changes

As we previously discussed, United States Citizenship and Immigration Services (USCIS) proposed substantial changes to the EB-5 regulations on July 24, 2019. The “EB-5 Immigrant Investor Program Modernization Rule” is scheduled for implementation on November 21, 2019. It appears that the Administration will apply the rule, as written, unless Congress acts to stop it. On August 20, … Read moreSenator Rand Paul Seeks Congressional Action to Halt EB-5 Program Changes

Ex-White House aide, business partner convicted in post-Katrina foreign investment fraud case

Federal court jurors in New Orleans on Friday convicted a former top military aide to three U.S. presidents and his business partner on charges that they scammed $15 million out of foreign nationals who believed they could become permanent American residents if they invested in the city’s post-Hurricane Katrina recovery. The decision capped off retired … Read moreEx-White House aide, business partner convicted in post-Katrina foreign investment fraud case

Vail showing no interest, but competitors eye Jay Peak as sale process presses on

The Tram Haus Lodge at Jay Peak Resort in June.  Vail Resorts, a ski industry behemoth that has been gobbling up resorts in recent years, is not interested in Jay Peak, but a handful of other entities have visited the Northeast Kingdom resort now for sale, a company official told a local town board during a recent … Read moreVail showing no interest, but competitors eye Jay Peak as sale process presses on

Palm House Hotel developer will use taxpayer money to pay legal bills

Robert Matthews is still awaiting sentencing after pleading guilty of defrauding foreign investors The developer of the Palm House Hotel, one of the largest EB-5 frauds in South Florida history, can no longer afford to pay his lawyers. Robert Matthews will use taxpayer funds to pay his attorneys, as he awaits sentencing after he pleaded guilty in April … Read morePalm House Hotel developer will use taxpayer money to pay legal bills

New records: ‘On EB5 you need to recognize Leahy and only Leahy’

Sen. Patrick Leahy speaks at a news conference at the Ethan Allen Homestead in Burlington on Friday, June 21, 2019.  Before Vermont’s EB-5 immigrant investor program became intertwined in the story of the state’s largest ever fraud, Sen. Patrick Leahy wanted people to associate one politician with the program: him. Leahy’s staff in 2011 pushed then-incoming … Read moreNew records: ‘On EB5 you need to recognize Leahy and only Leahy’

EB-5 Version 3.0 Offers New Opportunities, Challenges

The U.S. Citizenship and Immigration Services recently published new EB-5 regulations that go into effect on Nov. 21, 2019, and the EB-5 industry is abuzz on how it will affect the real estate sector. And what the future of the EB-5 program is and will look like. The implementation of these regulations will begin a new era … Read moreEB-5 Version 3.0 Offers New Opportunities, Challenges

AIG Presents EB-5 investment solutions to Korean investors

American Immigration Group, LLC (“AIG”) a leading EB5 Regional Center, headquartered in New York, is pleased to present EB-5 Investment solutions to Korean investors seeking to obtain Permanent Residency in the U.S. “American Immigration Group is expanding to yet another market and we are very excited to start our presence there,” said Qendrese Sadriu-Rrustemi, the Managing … Read moreAIG Presents EB-5 investment solutions to Korean investors

‘This loan was not normal’: Chinese nationals who invested in Vail condo project sue developer, lender

The condo Solaris in Vail.  Condo project Solaris claims on its website to be “Vail’s premier address.” But 13 Chinese nationals who put up millions toward the project see it somewhat differently, saying they invested in “a Roach Motel designed to extract value from foreigners.” The phrase appears in a lawsuit filed by the individuals Wednesday against … Read more‘This loan was not normal’: Chinese nationals who invested in Vail condo project sue developer, lender

New EB-5 Regulations Carry Significant Consequence to the South Florida Market

L-R: Julian Montero, Roger Bernstein, Rohit Kapuria, and Ronald Fieldstone. As a result of a new agency rule, potential EB-5 investors will be scurrying to invest in the EB-5 program in rapid fashion, many of whom desire to invest in the South Florida economy and emigrate to South Florida. As a result of a new agency rule, potential EB-5 … Read moreNew EB-5 Regulations Carry Significant Consequence to the South Florida Market

Extell lands $690M refinancing package for One Manhattan Square

One Manhattan Square Extell Development CEO Gary Barnett  After closing over a hundred units at One Manhattan Square since March, Gary Barnett’s Extell Development has secured $690 million in new financing for the remainder of the 80-story, 815-unit Two Bridges condo tower. The new debt consists of a $553.5 million senior inventory loan and a $138.2 million … Read moreExtell lands $690M refinancing package for One Manhattan Square

https://eb5projects.com/updates/regional_center_updates/4549

Academica founder Fernando Zulueta and rendering of Somerset Academy Parkland  Academica bought the property for $5M in 2016 Academica scored $15 million in EB-5-backed construction financing to start building a new charter school in Parkland. Source: https://therealdeal.com/miami/2019/08/27/parkland-charter-school-scores-15m-in-eb-5-backed-financing/ Read more by clicking below image    Please follow and like us:

Federal judge issues gag order on gag order in EB-5 case

VTDigger filed a motion to intervene Thursday in a federal case over alleged kickbacks to an immigration lawyer who steered EB-5 investors to Jay Peak Resort projects. Investors are suing attorney Jianming Shen who allegedly bilked the immigrants for $1.25 million. Shen helped Jay Peak generate more than $50 million in a Ponzi-like fraud scheme. The news … Read moreFederal judge issues gag order on gag order in EB-5 case

Settlement reached in EB-5 lawsuit with Aberdeen ties

A civil lawsuit with local ties between the Deadwood Mountain Grand and EB-5 investors has been settled. According to a news release from the resort, the settlement was final Aug. 16, pending litigation between SDIF, a corporation created by Joop Bollen of Aberdeen. Bollen ran SDRC Inc., a corporation formed to run the state’s EB-5 Regional Center. SDIF was formed … Read moreSettlement reached in EB-5 lawsuit with Aberdeen ties

Ex-White House aide, partner on trial for immigration fraud

Retired Air Force Col. Timothy Milbrath, who served as a military aide to 3 presidents, and his partner, William “Bart” Hungerford, are charged with fraud. A former White House military aide and his business partner are on trial in federal court, accused of pocketing millions of dollars intended for creating jobs in New Orleans after Hurricane Katrina. … Read moreEx-White House aide, partner on trial for immigration fraud

Oakland businessman, partners indicted in alleged $110 million cash-for-visas fraud

Tom Henderson addresses the crowd gathered at Callsocket for a grand opening on Monday, November 4, 2013. Henderson was charged Tuesday with defrauding over 200 foreign investors of $110 million under a controversial federal cash-for-visas program. Oakland businessman Tom Henderson, a former owner of the landmark Tribune Tower, was indicted Tuesday on charges of defrauding over … Read moreOakland businessman, partners indicted in alleged $110 million cash-for-visas fraud

Program that includes NY Wheel EB-5 investors touts strong track record

CanAm — an EB-5 immigrant investor program administered by U.S Citizenship and Immigration Services — announced that its 2,500 investor families, who are involved with 38 projects, earned a total capital repayment of $1.25 billion as of Dec. 31, 2018. CanAm provides qualified foreign investors with the opportunity to earn “conditional” or temporary two-year visas in return for … Read moreProgram that includes NY Wheel EB-5 investors touts strong track record

FBI releases heavily redacted file on EB-5 subject Richard Benda

Most information whited-out but some interesting tidbits revealed The FBI recently released its heavily redacted file on the EB-5 scandal subject Richard Benda. Some of the documents have previously been released. Benda, a former South Dakota cabinet secretary for the Department of Tourism and Development in the Mike Rounds administration, allegedly committed suicide while hunting near Lake … Read moreFBI releases heavily redacted file on EB-5 subject Richard Benda

Issues faced by Hotel Indigo resort in Coachella are not unusual

Coachella is betting Hotel Indigo will bring tourists, taxes, and jobs. But first, the hotel has to weather construction delays.  The delay in opening is primarily attributable to the project expanding in size and doubling in cost. We expanded from 250 to 300 rooms, increased the size of each room 20%, added a restaurant, and doubled the … Read moreIssues faced by Hotel Indigo resort in Coachella are not unusual

Financially troubled Hotel Astor in Miami Beach listed for sale

The ground lessee completed $9M in renovations in 2014 using EB-5 money from Brazil, China, and Venezuela The financially troubled and now-closed Hotel Astor is on the market for $12 million. The 42-room, three-story hotel at 956 Washington Avenue was renovated in 2014 using $9 million raised from EB-5 investors. It closed nearly a year ago after the ground … Read moreFinancially troubled Hotel Astor in Miami Beach listed for sale

Fed Up With Immigration Backlog, Lawyers Head to the Courts

An immigration services official stamps U.S. citizenship applications at a U.S. Citizenship and Immigration Services office. Litigation seen as only choice in wake of lengthy delays Agency says it’s using office realignment, hiring to clear backlog Attorneys are turning to the courts to unclog a massive immigration application backlog that’s resulted in processing delays lasting up to … Read moreFed Up With Immigration Backlog, Lawyers Head to the Courts

USCIS EB-5 Engagement 9/9

From: U.S. Citizenship and Immigration Services <uscis@public.govdelivery.com> Sent: August 9, 2019 10:58 AM Subject: USCIS: UPDATED – EB-5 Immigrant Investor Program: Listening Session, Monday, September 9, 2019 Dear Stakeholder, U.S. Citizenship and Immigration Services (USCIS) invites you to participate in a public listening session on Monday, September 9, 2019, from 2 to 3 p.m. Eastern to discuss the Immigrant Investor Program, … Read moreUSCIS EB-5 Engagement 9/9

Receiver has deal for Quiros’ lot that new owner would turn into dog park

Ariel Quiros is shown arriving at federal court in Burlington May 22 for his arraignment on charges pertaining to the EB-5 fraud case.  Another property that belonged to the indicted former owner of Jay Peak is about to be sold, this time a vacant lot in town that was damaged by Tropical Storm Irene in 2011 … Read moreReceiver has deal for Quiros’ lot that new owner would turn into dog park

EB5 investors set to fund Coachella venture

George Washington Immigration Group aims to provide $65 million in EB-5 financing for Glenroy Coachella LLC. The funds will be used to finance a portion of the costs of constructing Indigo Coachella, a full-service Indigo Hotel, a brand under the InterContinental Hotel Group umbrella. The resort is projected to open in “We are excited to work with … Read moreEB5 investors set to fund Coachella venture

Visa, Revised: Why EB-5 Is Getting Pricier and Harder to Use in Big Cities

In the wake of the Great Recession, the EB-5 program — often referred to as “cash for visas” — became an easy source of financing for real estate developers who found themselves unable to borrow money from traditional lenders. But new rules released by the federal government last month may make it much harder for … Read moreVisa, Revised: Why EB-5 Is Getting Pricier and Harder to Use in Big Cities

Grassley: Changes to investor visa program are win for rural America

President Trump just issued new rules that got little attention from the mainstream media but stand to bring fresh economic opportunity to America’s rural and disadvantaged communities. It’s another example of ways, big and small, that the president is going to bat for the forgotten heartland and taking the country back from the swampy beltway … Read moreGrassley: Changes to investor visa program are win for rural America

Business Plans and RFE Response

Do responses to Requests for Evidence need business plans? What if the RFE for an I-526 petition includes this dread sentence “Upon reviewing the business plan, USCIS finds that the evidence in the record does not establish that the business plan is Matter of Ho compliant.” Should the RFE response submit an updated/revised business plan, or take another strategy? … Read moreBusiness Plans and RFE Response

DHS’s Final EB-5 Regulations: What Stakeholders Need to Know

The Department of Homeland Security (DHS) has published final regulations that change some of the key features of the EB-5 Program, which takes approximately 10,000 green cards available each year for qualifying investors and their family members. When the final rule takes effect on November 21, 2019, the regulations will create broad, sweeping changes to … Read moreDHS’s Final EB-5 Regulations: What Stakeholders Need to Know

Attorney for EB-5 investors gets OK to depose key Jay Peak insider

A federal judge will allow an attorney for a group of EB-5 investors to question a whistleblower about what he knows about an alleged “kickback” scheme involving attorneys who brought foreign investors and their money to Jay Peak projects. Judge Christina Reiss said Thursday in federal court in Burlington that she would partially grant a … Read moreAttorney for EB-5 investors gets OK to depose key Jay Peak insider