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EB-5 Petition Approvals Begin for Dock 79

WASHINGTON, DC—The drawn out timeline shows the limitations of EB-5 financing. Still, developers love its flexibility and there are no shortages of deals to market.

By Erika Morphy | Updated on August 02, 2015

WASHINGTON, DC—US Citizenship and Immigration Services has begun to issue petition approvals for EB-5 investors in MRP Realty and Florida Rock Properties’ project underway on the Capitol Riverfront just south of the Nationals Park baseball stadium. An I-526 petition confirms that a project meets the federal government’s requirements under the EB-5 Immigrant Investor Program.

As a refresher the project — now called Dock 79 – consists of a nine-story, 305-unit multifamily complex. The 281,050-square foot building will hold about 18,000 square feet of ground floor retail and 286 parking spaces. Groundbreaking was last year and construction is on track to deliver in summer of 2016.

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