NEW YORK CITY—The Moinian Group has selected George Washington Immigration Group, LLC, as its EB-5 regional center to provide between $250 million and $350 million in EB-5 funding for 3 Hudson Boulevard.
Congress created the EB-5 Immigrant Investor Visa Program with the Immigration Act of 1990. Investors can become lawful permanent residents by investing at least $1,000,000 or $500,000 in targeted employment areas, to finance a business in the US that will employ a minimum of 10 American workers.
People can invest individually or through regional centers which create large investment pools. US Citizenship and Immigration Services designates EB-5 regional centers which sponsor projects for investments by EB-5 investors. Paid by commissions, these centers connect foreign investors with developers. They are often recommended for investors more concerned with obtaining a US green card as opposed to personally and directly managing an investment.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
