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WASHINGTON, March 07, 2024 (GLOBE NEWSWIRE) — EB5 Capital announced today that investors in its The Highline (JF13) project have begun receiving I-829 approvals from the United States Citizenship and Immigration Services (USCIS). USCIS issues approval of the removal of conditions of residency for EB-5 investors who have completed their conditional residency period and have demonstrated that their investment has resulted in the creation of at least 10 full-time jobs. I-829 approvals permit continued residence in the U.S. without conditions of restrictions and opens a path to U.S. citizenship for EB-5 investors.
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This first I-829 approval in The Highline (JF13) project was granted two and a half years after the petition was filed with the USCIS. “The I-829 petition is the final step in the immigration process for EB-5 investors and we are pleased that the first I-829 was adjudicated within a reasonable period of time,” said Molly FitzGerald, EB5 Capital’s Director of Investor Communications and Engagement.
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The Highline (JF13) is a mixed-use 317-unit Class A apartment building with ground-floor retail space in Washington, DC’s NoMa neighborhood. EB5 Capital has raised more than $175 million across six EB-5 projects in NoMa, which has the highest concentration of EB-5 financed projects in the city and has resulted in the creation of over 4,000 jobs. The Highline (JF13), EB5 Capital’s third development in NoMa, opened in 2019 and was successfully refinanced a few months later.
The development of The Highline (JF13) resulted in the creation of over 600 jobs for the local economy in Washington, DC and is one of EB5 Capital’s 20 projects in the nation’s capital. EB5 Capital remains dedicated to identifying and executing projects that contribute meaningfully to local communities and economies across the United States.
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About EB5 Capital
EB5 Capital provides qualified foreign investors with opportunities to invest in job-creating commercial real estate projects under the United States Immigrant Investor Program (EB-5 Visa Program). Headquartered in Washington, DC, EB5 Capital’s distinguished track record and leadership in the industry has attracted investors from over 75 countries. As one of the oldest and most active Regional Center operators in the country, the firm has raised over $1 billion of foreign capital across more than 35 EB-5 projects. 100% of our investors’ funds are protected by the Federal Deposit Insurance Corporation (FDIC) insurance prior to their deployment into our projects. Please visit www.eb5capital.com for more information.
Contact:
Katherine Willis
Director, Marketing & Communications
media@eb5capital.com
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