Worldway Group recently received an update on the construction progress of the 9 Manhattan West luxury boutique hotel EB-5 project. Affected by the COVID-19 pandemic, the project experienced a brief suspension in compliance with New York State government executive orders but has since resumed normal operations and entered a state of full-scale construction. As of June 2020, the number of on-site construction workers had recovered to 60% of peak levels; by July, the number of on-site workers was near full capacity. While the pandemic has to some extent affected the hotel's construction schedule, DLJ, as the project developer, has provided a completion guarantee, committing to cover any additional expenses that may arise due to construction delays. Based on the readjustments and assessments made by the developer and the construction team during the pandemic, the project is expected to be fully completed by December 2020.
In the second quarter of 2020, the construction progress of the 9 Manhattan West EB-5 project was primarily reflected in the following: the installation of the hotel's internal heating, ventilation, air conditioning, and sprinkler systems has been completed; outdoor construction on the hotel's rooftop terrace is nearing completion; the external scaffolding has been removed, clearing the way for the remaining exterior wall construction; the pedestrian walkways around the hotel have been built; and construction has begun on the ground-floor retail spaces leading to the exterior of the hotel.
Construction site photo of the heating, ventilation, air conditioning, and sprinkler systems
Construction site photo of the ground-floor retail spaces
Construction site photo of the pedestrian walkways around the hotel
Since its launch, this high-quality EB-5 project has attracted significant attention from all walks of life. Today, the fact that this project, which has achieved "dual approval" for both the I-526 exemplar and individual investor cases, is progressing so smoothly is a source of great relief for investors. Although the 9 Manhattan West project is sold out, the Yellowstone Club Phase II EB-5 project, which also possesses multiple advantages, is an excellent choice for investors looking to immigrate to the United States.
As one of the few EB-5 projects on the market that complies with the new regulations for the $900,000 low-investment threshold, this project combines many outstanding advantages, including dual USCIS approval, over-fulfillment of job creation requirements, collateral worth five times the loan amount, and transparent fund supervision, providing significant protection for investors' interests.
Ten Advantages of the Yellowstone Club Phase II EB-5 Project:
1. Rural area EB-5 project, eligible for the $900,000 low-investment immigration threshold
2. Project has received dual approval for both I-526 exemplar and individual cases
3. High job creation multiplier; construction has started, and required jobs have been created in advance
4. Low EB-5 capital ratio, high equity investment ratio
5. High-value collateral, with collateral value reaching up to 5 times the EB-5 loan amount
6. Strong brand appeal of the Yellowstone Club, with nearly 1/2 of the apartments pre-sold
7. Branded, operated, and managed by the renowned luxury hotel brand Montage
8. Developed and constructed by the experienced and capable developer CrossHarbor
9. Replication of the successful experience of the Yellowstone Club Phase I EB-5 project
10. Oversight by a professional EB-5 team & Worldway's 3rd successful collaboration with EB-5
2020 is the year of health planning; prioritize health planning and secure your status first. Good projects do not wait. If you regret missing the $500,000 investment immigration opportunity to the U.S., do not miss the $900,000 opportunity. High-quality projects are rare; book yours as soon as possible. For project details, please contact: Mainland China: 400-138-2929; Hong Kong, China: (852) 2802 8798.
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