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Project Update: The Charles

March 11, 2013 / usifredo

The Charles, an EB-5 project spearheaded by US Immigration Fund’s New York Regional Center, is underway and building toward success, according to reports coming from construction crews at the New York City location. As the project fundraising was fulfilled within three days, the building of The Charles is expected to be equally streamlined – and result in the creation of 559 new jobs, 27% more than required by the USCIS to ensure immigrant investor residency.

As can be seen in the accompanying photos, the basements have been dug out and foundations poured.

During the last four months, the subscribed investors have completed their applications and filed their I-526 petitions with the United States Citizenship and Immigration Service (USCIS).

During the week of February 18, 2013, Chinese investors whose funds went toward Manhattan projects The Charles and Bryant Park visited New York City for a tour of their future investments and residencies. They were escorted through the
development sites and the surrounding attractions, such as Central Park and Times Square. The group was introduced to the developers, and discussed plans and timelines.

Those investors can also look forward to U.S. immigration, as their contributions will result in their obtainment of green cards for themselves and their families. The well-known developer, Bluerock Real Estate, has already invested their capital into the project and is currently overseeing construction progress. Bluerock is a national real estate investment firm headquartered in Manhattan, NY, with regional offices in Phoenix, Arizona and Southfield, Michigan. The firm focuses on acquiring, managing, developing and syndicating stabilized, value-added and opportunistic multi-family and commercial properties throughout the United States.

We look forward to communicating with you in the near future about the progress of this project. If you have any questions concerning this letter, please feel free to call 561-799-0027.

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