Current EB-5 Projects
Class A Residential Development in Las Vegas
The developer of the 251 Brandon project, through a wholly-owned subsidiary Riverview Henderson Development, LLC, has launched a new EB-5 project in Las Vegas. Admiralty Sierra Regional Center, LLC is the sponsoring regional center. The project will be a residential development located on Las Vegas Boulevard in the Las Vegas Metropolitan Area in Clark County, Nevada. The developer used its own funds to purchase a 29.67-acre site for the project. It has received approval from the Clark County Board of Commissioners and other government bodies to construct a multifamily development consisting of nine residential apartment buildings with approximately 754 residential units with about 770,000 square feet.
The project is currently in its pre-construction phase. Entitlement approvals have been obtained and construction is expected to commence in Q4 2019. A team of architects and engineers is preparing design drawings and documentation. In parallel, the installation of an offsite waterline and conduits for gas, power, and cable has been completed.
The project has also received I-924 exemplar approval from USCIS in December 2018 and $50 million of EB-5 investment is being planned. According to an analysis prepared by an economist, this project is expected to create at least 1,391 jobs, well in excess of the 1,000 jobs required for the $50 million EB-5 offerings. Good faith efforts are committed to maintain a minimum cushion of 15% between the number of jobs projected for the project and the number of jobs required by the EB-5 investors to support their I-526 petitions to the USCIS.
|Number of Residential Units||754|
|Number of Unit Types||12 (plus variants)|
|Number of Building Types||4|
|Total EB-5 Investment||US$50,000,000|
|Minimum Investment Per Investor||US$500,000|
|Use of EB-5 Proceeds||For the development of The Ariva Project|
|Term of EB-5 Loan||5-year with option to extend for up to 2 years|
|Annual Interest Rate||2%|
|Escrow for EB-5 Subscription Proceeds||Yes|
If you are interested in more details, please reach out to us via Contact Us page. The Private Placement Memorandum and other offering documents will only be provided to investors who demonstrate that they are “Accredited Investors” to the extent legally required.