WASHINGTON, April 11, 2024 (GLOBE NEWSWIRE) -- EB5 Capital is delighted to announce that it has received notice from the United States Citizenship and Immigration Services (USCIS) regarding the approval of the first I-829 petition associated with an investor in The Coliseum (JF10) project. USCIS issues I-829 approvals, or permanent residency, to investors who have met USCIS’s stringent vetting requirements and demonstrated that their EB-5 investment created at least ten full-time jobs for the US economy. Receiving an I-829 petition approval is a significant milestone in the EB-5 immigration process, as it permits continued residence in the U.S. without conditions or restrictions and opens a path to citizenship for EB-5 investors.
The approved I-829 petition was filed in March 2020 and adjudicated in April 2024, approximately 45 months later. “I-829 petition approval represents the final step towards obtaining permanent residency for investors and their families,” said Natalia Pronina, EB5 Capital’s Vice President of Investor Relations.
JF10 involved the redevelopment of the historic Uline Arena in the NoMa neighborhood of Washington, DC. The single-story Uline Arena building was converted into a single level of retail below three levels of office space. Opened in 2017, the space is now home to one of only five flagship REI retail stores across the United States. Additional office and retail spaces in the building are occupied by tenants such as Red Bear Brewery, La Colombe Coffee Roasters, Cyclebar, and Antunovich Associates.
“The Coliseum was the first of EB5 Capital’s six EB-5 projects in NoMa, all located within several short city blocks of one another,” said Juline Kaleyias, EB5 Capital’s Vice President of Business Development. “It has been rewarding to see how much the neighborhood has grown, and we are proud that our EB-5 investors could be part of this transformation.”
The development of The Coliseum (JF10) resulted in the creation of over 800 jobs for the local economy in Washington, DC, and is one of EB5 Capital’s 20 projects in the nation’s capital.
About EB5 Capital
EB5 Capital provides qualified foreign investors with opportunities to invest in job-creating commercial real estate projects under the United States Immigrant Investor Program (EB-5 Visa Program). Headquartered in Washington, DC, EB5 Capital’s distinguished track record and leadership in the industry has attracted investors from over 75 countries. As one of the oldest and most active Regional Center operators in the country, the firm has raised over $1 billion of foreign capital across more than 35 EB-5 projects. 100% of our investors’ funds are protected by the Federal Deposit Insurance Corporation (FDIC) insurance prior to their deployment into our projects. Please visit www.eb5capital.com for more information.
Contact:
Katherine Willis
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media@eb5capital.com
