EB-5 Projects: A Closer Look At New York City Regional Center, LLC

Since its designation by USCIS, the New York City Regional Center (NYCRC) has worked on some of the largest EB-5 projects in the country.

New York City Regional Center works with development agencies, government entities, and private developers, providing loans for real estate projects across New York City, creating jobs in targeted employment areas (areas of high unemployment).

A Closer Look At Their Track Record

New York City Regional Center has had, to date, 100% of their project offerings approved by USCIS and has secured over $1 billion dollars of foreign investment in these projects across New York City. They have worked with over 2,200 individual foreign investors from 20 different countries.

A Closer Look At Their Statistics (According to their website.)

• NYCRC has had 2,145 EB-5 investors receive I-526 approvals.
• 4,707 EB-5 investors and family members have been granted conditional residency status.
• 780 EB-5 investors received I-829 approval.
• 2,273 EB-5 investors and family members have been granted permanent residency status.

A Closer Look At Their Projects

In 2014, NYCRC provided $247,000,000 worth of loans for projects in the Brooklyn Navy Yard, New York City’s largest industrial park. Located on the waterfront, the Brooklyn Navy Yard contains 300 acres and has 40 buildings. The capital raised from EB-5 investors helps implement new construction, renovation, and infrastructure improvements with the goal of spurring the U.S. economy and creating jobs for New Yorkers.

In 2011, a NYCRC investment fund loaned $228,000,000 to an affiliate of Forest City Enterprises to assist in constructing Barclays Center, one of New York City’s newest sports and entertainment area.

In 2013, a NYCRC investment fund loaned $200,000,000 to an affiliate of Acadia Realty Trust for the Redevelopment of Downtown Brooklyn Central Business District and the construction of City Point retail complex.

In 2013, a NYCRC investment fund loaned $80,000,000 to an affiliate of Simone Development Companies to assist with redeveloping the Hutchinson Metro Center in the Bronx.

In 2012, a NYCRC investment fund loaned $77,000,000 to an affiliate of The Dermot Company to assist with the redevelopment of the Battery Maritime Building on the East River waterfront.

In 2012, a NYCRC investment fund loaned $72,000,000 to an affiliate of SJM Partners to assist in the redevelopment of the George Washington Bridge Bus Station.

In 2010, a NYCRC investment fund loaned $65,000,000 to an affiliate of Steiner Studios to assist with expanding Steiner Studios, New York City’s largest film and television production facility.