NYCRC MILESTONES Print

NEW YORK, NY – May 30, 2017 – The New York City Regional Center (“NYCRC”) is pleased to announce that over 3,000 individuals (EB-5 investors and family members) participating in its offerings have now achieved permanent residency in the United States.  Over 1,000 I-829 petition approvals in NYCRC offerings have enabled over 3,000 individuals to secure permanent green cards.  I-829 petition approvals have been issued in the NYCRC’s first eight 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 excited to reach the 3,000 permanent residency milestone,” said Paul Levinsohn, Managing Principal of the NYCRC. “When we started our company in 2008, we knew that EB-5 investors and their families would be putting their trust in our ability to help them achieve permanent residency in the United States.We take this responsibility seriously.Achieving over 1,000 I-829 petition approvals and over 3,000 permanent green cards is the culmination of years of hard work on behalf of our investor families. We extend our best wishes to them on their continued journey in this country.”

“Since our designation nine years ago, we’ve focused on spurring job creation and economic development in New York City as well as assisting our EB-5 investors and their families begin a new life in America,” added George L. Olsen, Managing Principal of the NYCRC.“Permanent residency for over 3,000 individuals is a major achievement for our company and, of course, for our EB-5 investors and their families.”

Helping secure permanent residency in the United States for over 3,000 individuals represents the latest approval milestone for the NYCRC. Other examples include conditional residency in the U.S. for approximately 5,300 EB-5 investors and family members and I-526 petition approvals for 2,387 EB-5 investors.  In December 2016, the NYCRC announced the full repayment of a $60 million loan to 120 EB-5 investors in its first project offering. 

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 over $1.4 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:

• redevelopment of the Brooklyn Navy Yard, New York City’s largest industrial park;
• 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 a new cargo facility at JFK International Airport;
• construction of Fresh Direct’s new food processing and distribution facility in the South Bronx;
• 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 3,000 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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