90 Columbus Apartment Project Presentation
Time: August 14 (Sunday) 14:00-17:00
Reservation Hotline: 400-6622-699
Overview of 90 Columbus Apartment Project:
The 90 Columbus Apartment project is a multi-family rental apartment building with a total of 51 floors and 634 units. It is located at 90 Columbus Avenue in Jersey City, known as the "back garden" of Manhattan, New York, offering a prime location and convenient transportation. Floors 2-47 are rental units, which will reach luxury standards upon completion. In addition, the project includes 1,179 parking spaces and extremely convenient surrounding amenities, with numerous advantages attracting a large number of white-collar professionals working in Manhattan to settle here.
Over the past 10 years, the average vacancy rate in the local apartment market has been only 3.8%, and even during the economic downturn in 2009, the vacancy rate was only 5%. By 2013, the vacancy rate dropped to 3.6%. With the strong economic growth and recovery of Jersey City, the average vacancy rate in the local apartment market is expected to decline further.
Advantages of the 90 Columbus Apartment Project:
1. The project's full set of I-526 documents has received exemplar approval from the USCIS.
2. The project uses the RIMS II economic model to calculate employment, creating 2.4 times the number of jobs required by the USCIS.
3. EB-5 capital accounts for only 15.3% of the total project cost.
4. Strong repayment capability: Colliers International, a world-renowned commercial real estate appraisal firm, has issued a valuation report for this project. After the project is completed and operational, EB-5 capital will account for only 10.9% of the project's market value.
5. Prime location: The project is located at 90 Columbus Avenue in Jersey City, known as the "back garden" of Manhattan, across the river from Manhattan, New York. Many commuters working in Manhattan live here. The project is adjacent to the subway station, and it takes only about 20 minutes to reach Manhattan's Financial District by subway.
6. Significant property appreciation potential: This property belongs to the scarce apartment resources with a Manhattan concept, offering great appreciation potential. The developer plans to rent rather than sell, aiming to achieve dual benefits from rental income and appreciation.
7. Strong developer strength: The project developer, Ironstate, is one of the largest privately-owned real estate development companies in the northeastern region of New Jersey. It is mainly involved in the development and management of large-scale comprehensive projects, with apartment and hotel projects worth billions of dollars. Currently, it is engaged in the development of residential, hotel, and mixed-use projects worth over one billion dollars.
