Jessica Carrillo
New Member
I wanted to give you some quick information on our project in case you have not had a chance to read through the information. These details about our project will give you an idea of the type of project you are reviewing.
2.Secure job creation: The project will only use indirect jobs (665 jobs for 40 investors) created during the construction period, and will not use any operational jobs (138 jobs).
3.Repayment Source: The project can repay the EB-5 investors through refinancing or cash flow from operations.
4.Shovel-ready project: The project has received all necessary permits, finished demolition and signed Maximum Price Construction Contract.
5.Strong developer/operator: Mr. Greenberg is the developer/owner/operator of three hotels, of which two are in downtown Chicago, one is call theWit (a well-known Hilton hotel, at State and Lake) and the other is Marriott Fairfield. Both hotels have occupancy rates over 88%.
6.Proven market demand: Marriott's global reservation system shows that the additional demand of the Marriott Fairfield Hotel is big enough for an additional hotel. Due to the scarcity of the vacant land in that area, it will be very difficult for competitors to enter the market. In addition, the location is adjacent to the Northwestern Medical Campus which are building a number of new facilities. Patients, families and researchers will increase the market demand.
7.Excellent Support Team: Greenberg Traurig prepared the project legal documents and will review all I-526 applications before submission. DLA Piper did all real estate-related legal work. EPR prepared the job creation report. McGladrey will do quarterly and annual audit and report. NES Financial will be the escrow manager and provide a platform for investors to track the disbursement and use of funds. Rockwell Group will be the designer. These are all top companies in their fields.
8.The I-924 exemplar petition was filed in March 2015.
- Premier location with TEA status: The site is one and a half block from Michigan Avenue. The state has issued a letter confirming the TEA status with the unemployment rate of 14.4% (see attached).
2.Secure job creation: The project will only use indirect jobs (665 jobs for 40 investors) created during the construction period, and will not use any operational jobs (138 jobs).
3.Repayment Source: The project can repay the EB-5 investors through refinancing or cash flow from operations.
4.Shovel-ready project: The project has received all necessary permits, finished demolition and signed Maximum Price Construction Contract.
5.Strong developer/operator: Mr. Greenberg is the developer/owner/operator of three hotels, of which two are in downtown Chicago, one is call theWit (a well-known Hilton hotel, at State and Lake) and the other is Marriott Fairfield. Both hotels have occupancy rates over 88%.
6.Proven market demand: Marriott's global reservation system shows that the additional demand of the Marriott Fairfield Hotel is big enough for an additional hotel. Due to the scarcity of the vacant land in that area, it will be very difficult for competitors to enter the market. In addition, the location is adjacent to the Northwestern Medical Campus which are building a number of new facilities. Patients, families and researchers will increase the market demand.
7.Excellent Support Team: Greenberg Traurig prepared the project legal documents and will review all I-526 applications before submission. DLA Piper did all real estate-related legal work. EPR prepared the job creation report. McGladrey will do quarterly and annual audit and report. NES Financial will be the escrow manager and provide a platform for investors to track the disbursement and use of funds. Rockwell Group will be the designer. These are all top companies in their fields.
8.The I-924 exemplar petition was filed in March 2015.