CiF is pleased to announce that we have received new
approvals from the USCIS for two of our EB-5 projects!
EB-5 Investors who helped finance Phase II of the Uptown project in University Circle are now receiving I-526 approvals! The Uptown
expansion consisted of the construction of a new mixed-use retail and
residential building, which houses The Corner Alley and student apartments for
the Cleveland Institute of Art. A group
of foreign investors, working through CiF, is placing $5 million USD into the
project, helping to complete the overall project financing.
Further, the Flats East Bank Phase II EB-5 project has
received I-924 approval from the USCIS, meaning that the agency has accepted
the project’s business plan as well as the economic methodology that will later
determine the project’s total job creation.
This is an important milestone for any EB-5 project, since creating
new jobs is one of the key criteria an EB-5 investor must meet in order for the
investment to result in permanent US residency.
