Houston EB5 offers fresh opportunity to investors in U.S. projects
FRESH impetus was added recently to the drive to woo investors into the global housing market, with the offering to potential investors, the opportunity of investing in real estate developments in some projects in Houston Texas, prospects of a good return on investment and opportunity to qualify for permanent residency in the United States.
The initiative facilitated in Nigeria by 3Invest Limited in partnership with a real estate investment company, Houston EB5 comes under a scheme to raise capital for District Lofts, Sugarland and Thompson Hotel & Residences San Antonio in the region.
The U.S. Citizenship and Immigration Services under the Department of Homeland Security administer EB5 Investment Programme. It allows investors who make a qualified investment to fast track permanent legal residency in the United States for themselves and their immediate family without the usual roadblocks or red tape associated with the immigration process.
In 2010, Houston EB5 tapped a federal programme targeting wealthy foreigners to fund their real estate projects; a $70 million residential tower in the vibrant Houston Galleria area called Astoria and a $48 million eight-storey, 242-unit apartment building in the heart of Downtown Houston called Block 384.
Like previous Houston EB5 projects, both projects have received great support from both the City of Houston and San Antonio. A “TEA” designation has been assigned to both projects, lowering the minimum investment amount to $500,000 as opposed to $1,000,000.
Under the new projects, Imperial Refinery District Lofts will be a premier Class “A” development, pioneered by the award-winning Houston based real estate developer Sueba USA Corporation and Houston EB5. The meticulously designed project will encompass 273 units and will include a comprehensive amenity package. As part of the Imperial Sugar Land master-planned community, residents will have access to all of the city’s hospitality and entertainment venues plus convenient access to Downtown Houston.
The Thompson Hotel and Residences positions itself as the Premier Luxury Boutique Hotel of San Antonio. Consisting of 20 stories, the 170 guestroom – 56 residence hotel will feature 15,000 square feet of riverfront meeting space and a Skybar Club, providing sweeping views of the City. The Thompson San Antonio Hotel gives way to unrivalled elegance and comfort.