"We are pleased to receive I-924 approval for our 29th and 5th EB-5 project," said Nicholas A. Mastroianni, III, President of U.S. Immigration Fund. "I-924 approval provides our investors with predictability of project success and we want to additionally congratulate all investors involved in the 29th and 5th project. We work with potential investors individually to ensure we are effectively aligning projects with investment goals."
USIF is currently raising $80 million (160 investors) of EB-5 capital for the approved 29th and 5th project. The 29th and 5th project does have spots available for interested investors. To check eligibility, interested investors can click here.
29th and 5th will include a LEED certified design, and amenities promoting employee connectivity, community workspaces, and fitness options. Employee wellness is a significant driver of the design – the goal being to promote a healthy workspace for everyone utilizing the building, both inside and out. To attract businesses of all sizes, plans include the design of smaller 13,400 square foot floorplates, creating readily available office space in the highly-demanded NoMad neighborhood.
"The project's focus on wellness and sustainability in the workplace, aligns with our core business values, and we can't wait to see the positive impact 29th and 5th will have on the surrounding business communities, as well as our investors," Mastroianni added.
With a completion date slated for Q1 2022, the demolition of the core build area is complete, construction over the next few months will focus on completing boring requirements for foundation design with the goal of commencing foundation and excavation work.
29th and 5th is located in the heart of Manhattan within NoMad (North of Madison Square) and is confirmed to include Class A office building space. NoMad is one of the strongest market hubs in New York City, and 29th and 5th is set to answer to the demand for office space in the area. Backed by HFZ and Bjark Ingels and their strong focus on wellness and sustainability in the workplace, the project is anticipated to be another EB-5 success.
About U.S. Immigration FundU.S. Immigration Fund ( USIF ) is America's leading EB-5 Regional Center operator with world-renowned investment opportunities from New York City to California and 6,000 clients from across the globe. With approved Regional Centers located in the world's most thriving metropolitans, USIF provides worthwhile opportunities for foreign investors and their families to obtain permanent U.S. residency through the EB-5 Program. Each year, the U.S. government allocates 10,000 visas for foreigners who invest through the Program. These initiatives enjoy full government support as they stimulate the economy, generate at least ten jobs per investment, and promote community development while providing access to green cards for foreign investors and their families.
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SOURCE U.S. Immigration Fund