Projects in New York City area get billions from EB-5 investors
The EB-5 visa program has led to more than $3.7 billion being put into several dozen projects around New York City since 2009. Among the recipients:
Hudson Yards, a 26-to-28-acre mixed-use real estate development on Manhattan’s Westside, has raised the most money, $600 million.
Four Seasons Hotel New York, an 82-story building in downtown Manhattan, raised $250 million from 500 EB-5 recipients.
Central Park Tower, a $1 billion condominium project under construction on West 57th Street, is seeking $200 million.
Across the Hudson River from Manhattan, Trump Bay Street, a 50-story luxury rental complex in Jersey City, New Jersey, built by Donald Trump’s son-inlaw, Jared Kushner, reportedly raised $50 million, a quarter of its funding, through EB-5, nearly all from investors from China. A spokeswoman for the Trump Organization said that Trump sold his name to the project and is not managing the finances.