New York, NY, Feb. 14, 2019 (GLOBE NEWSWIRE) -- The New York City Regional Center (“NYCRC”) is pleased to announce that a total of $224 million in capital has now been repaid to EB-5 investors in previous NYCRC offerings. The resulting job creation from these previous offerings enabled 2,025 individuals (EB-5 investors and family members) to receive permanent residency in the United States under the EB-5 Immigrant Investor Program. They are among the more than 4,670 individuals worldwide who have received permanent green cards through NYCRC offerings to date.
“We are proud to announce the repayment of $224 million of capital to EB-5 investors in our previous offerings,” said Paul Levinsohn, NYCRC Managing Principal. “These repayments coupled with the issuance of permanent residency in the United States for thousands of individuals, are major achievements for the NYCRC and, of course, for our EB-5 investors and their families.”
In December, the NYCRC announced the completion of project construction in 17 of its EB-5 offerings. These completed projects successfully utilized NYCRC EB-5 financing to assist in the construction of over 3.8 million square feet of new development and renovation as well as infrastructure upgrades resulting in significant job creation for New Yorkers.
Over the past 10 years, the NYCRC has put over $1.5 billion of EB-5 capital to work across a broad spectrum of infrastructure and real estate projects in New York City. Much of this capital has been invested in underserved areas in need of long-term economic growth. Examples include:
“The NYCRC takes seriously our role in spurring job creation and economic development as well as our responsibility to assist our EB-5 investors and their families achieve their immigration goals,” said NYCRC Managing Principal George L. Olsen.
Examples of additional completed projects utilizing EB-5 capital from NYCRC-managed funds include the following:
For more information about the NYCRC, please visit www.nycrc.com.