Recently, the Manhattan 9 luxury boutique hotel project, exclusively represented by WorldWay Group in Greater China, has triggered a buying frenzy in the EB-5 investment community, leading to extensive coverage by major domestic media. Since its launch, this EB-5 project, which offers the prospect of shortened visa wait times, has attracted significant attention from all sectors; both online and offline, "Manhattan 9" has truly become the hot topic of the 2017 winter in the EB-5 industry.
So, what exactly is the "Manhattan 9" project? Why is it so favored by investors?
Potential for shortened wait times and rapid Green Card acquisition
Why is it expected to shorten wait times?
"Manhattan 9" is located in a Priority Urban Investment Area, a designated zone for future reserved visa allocations
After years of negotiation and development regarding the reform of the EB-5 Regional Center temporary program, the "Urban" faction and the "Rural" faction have gradually unified their views on the visa reservation allocation scheme, reaching a basic consensus in the draft reform proposals.
On April 15, 2017, Senate Judiciary Committee Chairman Grassley and Senate Appropriations Committee Vice Chairman Leahy introduced the "American Job Creation and Investment Promotion Reform Act of 2017" (the "Draft Act"). Under the provisions of the Draft Act, EB-5 investors whose projects are located in "Priority Urban Investment Areas" will be entitled to 1,500 priority visa allocations 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 whose projects are located in "underdeveloped urban areas" will be granted 1,500 priority visa allocations annually. [Note: Compared to the "Priority Urban Investment Areas" mentioned in the Draft Act, "underdeveloped urban areas" is merely a change in terminology, with no change in the underlying requirements.]
Furthermore, Ronald Klasko, a renowned U.S. immigration attorney, five-time chair of the AILA EB-5 Committee, and a prominent figure in the U.S. immigration field, stated during his recent visit to WorldWay Group and his meeting with WorldWay executives that the clause providing visa reservations for "Priority Urban Investment Areas" is almost certain to appear in the new legislation.
Meanwhile, two top-tier U.S. law firms—Miller Mayer and Greenberg Traurig—while analyzing the USCIS reform trends at the Manhattan 9 project launch event last weekend, also expressed their belief that the definition of "Priority Urban Investment Areas" and the associated visa reservation policy would be retained in the forthcoming EB-5 reform legislation. They also emphasized that investing in projects located in "Priority Urban Investment Areas" is currently the best pathway to address visa retrogression.
Relevant immigration experts believe that selecting an EB-5 project that meets the "visa reservation" criteria may allow investors to enjoy the greatest reform dividends, and those who invest in the Manhattan 9 luxury boutique hotel project may be among the first to benefit.
The prospect of shortened wait times is certainly appealing, but the project's other fundamentals are also crucial. So, how are the fundamentals of this project?
You can continue reading below and judge for yourself
Rare in the market: A Manhattan EB-5 project with first-priority repayment status
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 status. Furthermore, based on the proposed reform drafts, it is an EB-5 project located in a Priority Urban Investment Area, offering the potential to shorten wait times.
In addition, the project has sufficient job creation, with construction jobs alone meeting all requirements for the removal of conditions; the project is already under construction, so there is no need to wait for administrative permits; the project has a completion guarantee, ensuring the creation of jobs required for the investor's I-829 removal of conditions. Simultaneously, the project adheres to industry-leading high compliance standards, ensuring transparency in the supervision and use of EB-5 funds. Such a high-quality EB-5 project that protects the interests of investors is truly formidable.
An EB-5 project meticulously crafted by a world-class team
Manhattan 9 luxury boutique hotel is another premier EB-5 masterpiece launched by the three powerhouses—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 DJL New York headquarters
DLJ is a world-renowned real estate investment fund company. Headquartered in New York, USA, it also has offices in London, Hong Kong, Tokyo, and Los Angeles. To date, DLJ has completed over 200 projects globally with a transaction value of $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 over $370 million in total 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 safeguarding the immigration journey for investors, "Manhattan 9" is truly a standout in the EB-5 project space and a rare, high-quality choice.
Following the intense buying frenzy last weekend, quotas for the Manhattan 9 luxury boutique hotel project have become even more scarce. Those interested in immigrating to the United States should not miss this opportunity to obtain a Green Card faster. "Manhattan 9" inquiry hotline: 400-138-2929.