NYCRC MILESTONES Print

NEW YORK, NY – September 4, 2012 – The New York City Regional Center (“NYCRC”) is pleased to announce that the United States federal government has issued the 1,000^th Conditional Green Card to EB-5 applicants and family members participating in NYCRC projects.  The issuance of the Conditional Green Card follows approval of the applicant’s I-526 Petition and a United States Consulate interview. 

Conditional permanent residence permits EB-5 applicants to live and work anywhere in the United States, and be protected by the laws of the United States.  An applicant’s spouse and children are also authorized to live, work and attend school anywhere in the United States.

The NYCRC was approved by the United States Citizenship and Immigration Services (USCIS) in 2008 to secure EB-5 investment in real estate projects within Brooklyn, Queens, Manhattan, and the Bronx.  NYCRC was the first regional center approved in New York City.  The NYCRC works in conjunction with the government and designated developers to fund critical economic development projects in New York City. 

NYCRC has become an important contributor to New York City’s economic revitalization by helping to fund a series of public/private real estate projects that create much needed jobs.  NYCRC projects include EB-5 funding to assist with the redevelopment of the Brooklyn Navy Yard, New York City’s largest industrial park, as well as funding to assist with the expansion of Steiner Studios, the city’s largest film and television production facility.  The NYCRC has also provided capital for key components of the Atlantic Yards project as well as the redevelopment of Downtown Brooklyn’s central business district.  NYCRC funding will be used to assist with the redevelopment of the George Washington Bridge Bus Station and the continuing efforts to revitalize Lower Manhattan’s waterfront.  NYCRC is also providing funding for important developments in the Bronx.

“The issuance of the 1,000^th conditional green card is a major milestone for the NYCRC.  It is the culmination of years of hard work,” said NYCRC Managing Principal Paul Levinsohn.

“The NYCRC is helping to spur job creation and economic development throughout New York City while also assisting families begin a new life in America.  We look forward to continuing our track record of well-structured real estate offerings,” added NYCRC Managing Principal George L. Olsen.

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