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NEW YORK, NY – January 22, 2020 – The New York City Regional Center (“NYCRC”) is pleased to announce that the first I-829 petition has been filed in the Brooklyn Navy Yard Redevelopment Project III.  I-829 petitions have now been filed in 16 NYCRC offerings.  To date, 1,672 I-829 petition approvals have been issued in NYCRC offerings resulting in 4,874 individuals (EB-5 investors and family members) achieving permanent residency in the United States. 

The Brooklyn Navy Yard Redevelopment Project III (“Project”) includes the next phase of expansion at the Brooklyn Navy Yard, the largest industrial park in New York City.  The Project is part of a broader strategy to revitalize the city’s high-tech manufacturing base by drawing on its strength as a hub for design schools, universities and, increasingly, technology companies.  The Project includes the completed construction of an 84,000 square foot high-tech manufacturing facility within the Brooklyn Navy Yard.  The new interdisciplinary manufacturing center is providing collaborative work space for digital manufacturers, architects, university researchers, entrepreneurs, and inventors.  The new facility, called “New Lab”, includes private studios, conference rooms, co-working desks, and a state-of-the-art prototyping workshop. The space also includes a full metal shop, wood shop, and 3-D printing area to allow tenants to take their ideas from concept to prototyping to production all under one roof.  The Project also involves surrounding infrastructure improvements necessary for this new development.

The Project involves the Brooklyn Navy Yard Development Corporation, the entity in charge of the City of New York-owned Brooklyn Navy Yard. The Project also includes Macro Sea, the real estate company selected by the government to coordinate the development. 

Construction of the Project is complete and the I-829 submission reflects that 327.5 jobs were created from construction of the Project. 

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