DETAILED INFORMATION OF THE PROJECT
- Total development cost: $404,000,000.
- Investor: CityBridge.
- Fund from EB-5: $157,500,000 (equivalent to 315 cost per unit)
- Estimated job offers: 4,165 (over 32% compared to those described in USCIS’ regulation)
- Refund date: Flexible, as soon as investor get the approval from form I-829.
- Construction starting date: Already begun on December 30, 2015
Advantages of the project:
- Members of this project are USA’s top corporations like: Google, Qualcomm, Intersection and Comark.
- The project is President Obama’s top priority; in his memo he wrote "To promote the deployment of broadband infrastructure”. This project greatly benefits the community and plays an important role to the government.
- The project makes profit from advertisement platforms which broadcast 24/7 on digital displays of connection nodes; from top companies of US which have advertisement contracts with the project such as: P&G, COCA-COLA, AT&T, GAP, GM, CITI BANK, MICHAEL KORS, LEVI’S, PARAMOUNT, SAMSUNG, CADILLAC, NESTLE, AMAZON…
- The structure of the project is completely different compared to other EB-5 projects around the market, as the EB-5 investors will be prioritized to get refunded as soon as there is an approval of form I-829.
- This project is being promoted to include the infrastructure owned by New York city administration, and is considered to be an important technological discovery of the city government.
- The EB-5 investment capital will be reserved in escrow account, and will not be used for the project until there is an approval of USCIS (United States Citizenship and Immigration Services).