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New York City Regional Center Announces the Repayment of $318 Million in Capital to EB-5 Investors

Press Trust of India  |  NEW YORK 

/ -- The City Regional Center ("NYCRC") is pleased to announce that a total of $318 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 in the 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 $318 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 in the for thousands of individuals, are major achievements for the NYCRC and, of course, for our EB-5 investors and their families."

The NYCRC also recently announced the completion of project construction in 18 of its EB-5 offerings to date. 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 in New City. Much of this capital has been invested in underserved areas in need of long-term economic growth. Examples include:

$220 million to finance ground-up construction in the Bronx;

$108.5 million to finance ground-up and redevelopment projects in (an Upper Manhattan Empowerment Zone); and,

$767 million to finance ground-up, redevelopment, and infrastructure projects in Brooklyn, including seven projects totaling $339 million in the "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 goals," said NYCRC

Examples of additional completed projects utilizing EB-5 capital from NYCRC-managed funds include the following:

A new in New City's subway stations;

Redevelopment of a new cargo and animal care facility at John F. Kennedy International Airport;

New soundstages and production support space at Steiner Studios, New York City's largest film and television studio;

Phase 1 redevelopment of the in Washington Heights;

City Point in Downtown Brooklyn;

Redevelopment of multiple unused buildings and surrounding infrastructure upgrades in the Brooklyn Navy Yard, New York City's largest industrial park;

A new hotel and medical office complex in Washington Heights;

Key components of the Atlantic Yards redevelopment in Brooklyn; and,

Expansion of the in the Bronx. For more information about the NYCRC, please visit

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 02 2019. 12:50 IST