Houston EB5, 3Invest unfold Texas new project for immigrant investors
Houston EB5 in partnership with 3INVEST has unveiled its multi-use development and investment opportunity in Texas Hill and Wine Country, United States. Known as The Frederick, the project consists of a 200-room full-service luxury hotel and event centre, condominium units of one, two and three bedrooms, 220 for rent multi-family units and nearly 30,000-square metre retail space.
Located in Fredericksburg, between Austin and San Antonio, the top two fastest-growing cities in the state, the area hosts over 1.2 million tourists a year and is consistently named a top travel destination.
The development has received EB5 priority processing designation ensuring the fastest possible processing times in the EB5 programme. Additionally, the project is designated as a rural project allowing for a minimum investment of $800,000 and 20 per cent visa set aside for rural Targeted Employment Area (TEA) projects versus 10 per cent for urban TEA projects.
“We are very excited to offer ‘The Frederick’ to our EB5 Investors as it combines the best of both worlds – the fastest possible way to gain permanent residency through the EB5 programme and a world-class real estate project in the fastest growing region, which is Central Texas”, says Roberto Contreras Jr., Managing Director, Houston EB5.
According to Managing Director, 3Invest, Ruth Obih, “This new real estate project and its priority processing designation brings another ray of hope to potential EB5 investors.”
When the opportunity to develop a mixed-use project and to work with the city of Fredericksburg came about, we instantly knew we had something special not just for the city but for our EB5 investors, COO, DC Partners, Acho Azuike said.
The EB-5 Immigrant Investor Programme has gone through significant changes in 2022 with the enactment of the EB-5 Reform and Integrity Act (RIA) in March, 2022. The new law contains significant protections and transparency measures to the benefit of EB5 investors and features priority processing for investors that invest in projects outside of large cities.
The project is certified by United States Citizenship and Immigration Services (USCIS) as an EB-5 Regional Centre. Houston EB5 assists international investors gain permanent U.S. residency in return for making a qualified real estate investment.
The firm is also vertically integrated with a leading Texas-based development company, DC Partners. With over 20 successful EB-5 raises and projects totaling $1.5 billion in value, Houston EB5 projects have sponsored more than 1,300 green cards and a 100 per cent capital repayment history.