On August 24th, the highly anticipated briefing on the Las Vegas Third Street Redevelopment Project was once again held at Worldway Beijing. Worldway invited Mr. Reed Weily, Chief Marketing Officer of the Las Vegas Third Street Redevelopment Project, Mr. Sam Lin, Asia Market Director, and Mr. Justin Gardinie, Vice President of CIM Group, along with Mr. David Cohen, attorney, shareholder, and head of the EB-5 team at (BHFS) law firm, to provide investors with detailed explanations of the project and the latest immigration policies.
Mr. David Cohen, a well-known lobbyist lawyer in the United States
As a prominent lobbyist lawyer in the United States, Mr. David Cohen is responsible for establishing communication channels and relationship management between large developers, investment institutions, EB-5 organizations, and U.S. legislative bodies, including the Department of Homeland Security and the Department of the Treasury. He has actively participated in the legislative lobbying of the latest immigration reform bill in the United States. During the meeting, he provided an authoritative interpretation of the latest developments regarding the U.S. immigration reform bill and the latest immigration bureau approval policies as of May 30, which included measures to expedite approval processes, enhance supervision of EB-5, unify standards while respecting previous case law approval standards, allow the use of "bridge financing," and potential increases in investment amounts for immigrant investors, which are of particular concern to investors. He also conveyed a very important political signal to the investors present: the U.S. political sphere highly recognizes investment immigration and hopes that EB-5 investment immigration will become more refined and operational. This is undoubtedly good news for investors intending to immigrate to the United States.
Mr. Reed Weily, Chief Marketing Officer of the Las Vegas Third Street Redevelopment Project
Subsequently, Mr. Reed Weily provided a detailed introduction to the current status of the Las Vegas Third Street Redevelopment Project, clarifying that it is not a standalone project but a redevelopment project for the entire block; construction commenced at the end of 2011, and by the end of this year, the hotel and casino sections will begin trial operations; it is expected that the casino will hire 800 workers. He also emphasized the advantages of the project: it creates an employment rate surplus of 36%-40%, which greatly guarantees the approval of investors' I-829 applications; the project is managed by CIM Group, which was ranked 27 in the global PRE rankings in 2012, a private real estate development company that has successfully completed or is in the process of developing over 120 projects in nearly 20 years. The world's largest pension funds, including the California Public Employees' Retirement System, ranked 6 globally, and the California State Teachers' Retirement System, ranked 12 globally, have all invested in the CIM fund, demonstrating its strong financial backing; as of the end of 2012, the developer had invested $170 million in cash without any third-party or bank loans, fully proving the developer's confidence in the project; regardless of how high-quality a project is, it needs to be completed. Even if this project cannot raise 240 investors, $120 million of the remaining funds will be provided by CIM Group to ensure completion,Mr. Reed Weily displayed the project completion guarantee, which has received dual certification from the California government, where CIM Group is headquartered, and the Chinese Embassy, maximizing the guarantee of capital return for each investor's I-829 application in the future.
Investors are enthusiastic about U.S. investment immigration
Through authoritative interpretations and detailed explanations of the latest U.S. immigration policies and the Las Vegas Third Street Redevelopment Project by invited experts, the confidence of investors in U.S. investment immigration has greatly increased, and they have expressed strong interest in the Third Street project. Mr. Liu, a client who signed a contract with Worldway on-site, stated: "I heard that the 520 Bridge Project approved by Worldway recently is the safest, but unfortunately, I missed it. After listening to the expert's explanation at this briefing, I feel that the Third Street project is also very secure, so I signed a contract with Worldway without hesitation."
