Recently, the Manhattan 9 luxury boutique hotel project, for which WorldWay Group serves as the exclusive Greater China agent, has triggered a buying frenzy in the EB-5 investment community, drawing extensive coverage from major domestic media. Since its launch, this EB-5 project, which offers the potential to shorten visa retrogression, has attracted widespread attention. Both online and offline, "Manhattan 9" has truly become a hot topic in the EB-5 industry during the winter of 2017.
So, what kind of project is "Manhattan 9" exactly? Why is it so favored by investors?
Potential to shorten retrogression and obtain a Green Card quickly
Why is there potential to shorten retrogression?
“Manhattan 9” is located in a Priority Urban Investment Area, a future designated zone for reserved visa quotas
The reform of the EB-5 Regional Center temporary act has been debated for many years. To date, the urban and rural factions have become increasingly aligned on the proposal for reserved visa quotas, reaching a basic consensus in the draft reform proposals.
On April 15, 2017, Senate Judiciary Committee Chairman Grassley and Senate Appropriations Committee Chairman Leahy introduced "The American Job Creation and Investment Promotion Reform Act of 2017" (draft). According to the draft, EB-5 investors in projects located in "Priority Urban Investment Areas" would be entitled to 1,500 priority visa quotas annually.
In October 2017, Grassley and Goodlatte (2G) proposed the "Last, Best and Final Offer," also known as the "2G Proposal." According to the proposal, EB-5 investors in projects located in "Urban Underdeveloped Areas" would be entitled to 1,500 priority visa quotas annually.【Note: Compared to the "Priority Urban Investment Areas" proposed in the draft act, "Urban Underdeveloped Areas" is merely a change in terminology, with the conditions remaining unchanged.】
Additionally, Mr. Ronald Klasko, a five-time chair of the "American EB-5 Committee," a renowned U.S. immigration attorney, and a prominent figure in the U.S. immigration field, stated during a previous visit to WorldWay Group and a meeting with its senior management that the provision for reserved visa quotas for "Priority Urban Investment Areas" is almost certain to appear in the new act.
Meanwhile, two top U.S. law firms—Miller Mayer and Greenberg Traurig—analyzed the trends in USCIS reforms at the Manhattan 9 project launch last weekend and also expressed the view that the definition of "Priority Urban Investment Areas" and its visa reservation policy will be retained in the upcoming EB-5 reform act. They also emphasized that investing in projects located in "Priority Urban Investment Areas" is currently the best way to address visa retrogression.
Relevant immigration experts believe that choosing an EB-5 project that meets the "reserved visa" criteria may yield the greatest reform dividends, and investors in the Manhattan 9 luxury boutique hotel project may become the first beneficiaries.
The potential to shorten retrogression is indeed attractive, but the project's other fundamentals are also very important. So, what are the fundamentals of this project?
You can continue reading to judge for yourself
A rare market EB-5 project with first-priority repayment in Manhattan
The Manhattan 9 luxury boutique hotel project has a robust capital structure and is a rare EB-5 project in the market that enjoys first-priority mortgage repayment. Furthermore, under the proposed reform drafts, it qualifies as an EB-5 project in a Priority Urban Investment Area with the potential to shorten retrogression.
In addition, the project has sufficient employment creation; construction jobs alone are enough to meet all requirements for the removal of conditions. The project has already commenced, eliminating the need to wait for administrative construction permits. The project has a completion guarantee to ensure that the jobs required for investors' I-829 condition removal are created. At the same time, the project adheres to industry-leading high compliance standards to ensure transparent supervision and use of EB-5 funds. Such a high-quality EB-5 project that protects investor interests is truly impressive.
An EB-5 project built by a world-class project team
Manhattan 9 luxury boutique hotel is another top-tier EB-5 masterpiece jointly launched by the large real estate investment fund DLJ, EB5 United, and WorldWay Group, following the successful completion of the DLJ Four Seasons Hotel and Resort EB-5 project.
WorldWay delegation visits EB-5 UNITED and DLJ New York headquarters
DLJ is a globally renowned real estate investment fund company headquartered in New York, with offices in London, Hong Kong, Tokyo, and Los Angeles. To date, DLJ has completed investments in over 200 projects worldwide, with a transaction market value reaching $16 billion. It has successfully developed 56 hotel projects in the United States, Asia, and the Caribbean, possessing a professional team and extensive experience in hotel project development.
EB-5 United is one of the most experienced EB-5 project providers in the United States. Since 2011, it has raised a total of over $370 million in EB-5 funds and has maintained a 100% I-526 and I-829 approval rate to date.
With such a powerful project team and the professional WorldWay Group to safeguard the immigration journey for investors, "Manhattan 9" can be called a powerhouse among EB-5 projects and is a rare, high-quality opportunity.
After a round of hot buying last weekend, the quotas for the Manhattan 9 luxury boutique hotel project have become even scarcer. Those interested in immigrating to the United States should not miss this opportunity to prioritize a quick Green Card. "Manhattan 9" hotline: 400-138-2929.