WASHINGTON, May 31, 2024 (GLOBE NEWSWIRE) -- EB5 Capital is happy to report the first I-829 petition approval in its 331 N (JF21) project, a 356-unit multifamily development in Washington, DC. The United States Citizenship and Immigration Services (USCIS) issues approval of the removal of conditions of residency for EB-5 investors who have completed their conditional residency period and have demonstrated that their investment has resulted in the creation of at least ten full-time jobs. I-829 approvals permit EB-5 investors to be lawful permanent residents of the United States.
“We are sincerely happy for all the EB-5 investors involved in this project,” said Nhat Huynh, Vice President of Investor Relations at EB5 Capital. “Securing an I-829 approval is a major milestone in the EB-5 immigration process and we look forward to more investors getting approved soon.”
I-829 petition approvals have now been issued across 18 of EB5 Capital’s past projects. The 331 N (JF21) project, which received this approval, was completed in 2021 and generated over 900 EB-5 qualifying jobs for the local economy. The project, also known as Press House Apartments, was built in conjunction with the historic renovation of the National Capital Press building, a former printing press that once produced the United States Congressional Record. EB5 Capital helped finance this project along with approximately 20 other EB-5 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 approximately 40 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
Director, Marketing & Communications
media@eb5capital.com
