NYCRC MILESTONES Print

NEW YORK, NY – February 6, 2018 – The New York City Regional Center (“NYCRC”) is pleased to announce that a total of 766 I-829 petitions were approved in NYCRC project offerings in 2017.  These approvals resulted in 2,116 EB-5 investors and family members securing permanent residency in the United States in the last 12 months.    

To date, approximately 1,600 I-829 petition approvals in NYCRC project offerings have enabled over 4,650 individuals to secure permanent residency in the United States.  I-829 petition approvals have now been issued in the NYCRC’s first nine (9) project offerings.    

Permanent residency permits EB-5 investors to live and work anywhere in the United States and be protected by the laws of the United States.  An EB-5 investor’s spouse and children under age 21 are also authorized to live, work, and attend school anywhere in the United States.

“We are proud of the NYCRC’s achievements in 2017,” said Paul Levinsohn, Managing Principal of the NYCRC.  “We enjoyed a very large number of I-829 approvals for our EB-5 investors last year resulting in permanent residency for over 2,100 investors and family members.  Over the past 12 months, we have also secured I-924 approvals for five (5) separate project offerings and saw $65 million repaid to all 130 EB-5 investors in our second offering.”

“We know that EB-5 investors and their families put their trust in our ability to help them achieve permanent residency in the United States,” said George Olsen, Managing Principal of the NYCRC.  “We take this responsibility seriously and are pleased to announce this exciting record of investor approvals in 2017.”    

About New York City Regional Center

The NYCRC was approved by the United States Citizenship and Immigration Services in 2008 to secure foreign investment for real estate and infrastructure projects under the EB-5 Immigrant Investor Program.  The company was the first EB-5 regional center approved in New York City.  To date, the NYCRC has secured approximately $1.5 billion of capital for 21 economic development projects in Brooklyn, Queens, Manhattan, and the Bronx.  Examples of projects utilizing loans provided by NYCRC-managed funds include the following:

• construction of Fresh Direct’s new food processing and distribution facility in the South Bronx;
• redevelopment of the George Washington Bridge Bus Station in Washington Heights;
• construction of a wireless infrastructure network in New York City’s subway stations; 
• redevelopment of the Brooklyn Navy Yard, New York City’s largest industrial park;
• expansion of Steiner Studios, New York City’s largest film and television studio;
• construction of the City Point development in Downtown Brooklyn;
• construction of a hotel and medical office complex in Washington Heights; 
• construction of key components of the Atlantic Yards redevelopment in Brooklyn;
• expansion of the Hutchinson Metro Center in the Bronx;
• construction of LinkNYC, the public-private initiative that is bringing the nation’s largest and fastest public Wi-Fi infrastructure network to the streets of New York City. 

In addition to fueling economic development, NYCRC offerings have enabled over 4,650 individuals to become permanent residents of the United States through the EB-5 Immigrant Investor Program. 

For more information about the NYCRC, please visit www.nycrc.com.

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