We are delighted to share the wonderful news that the USCIS has granted approval for the I-956F application pertaining to the Group 12 Jackson Project. This milestone signifies that USCIS has approved that Group 12 project meets the requirements of the EB-5 Reform and Integrity Act of 2022 (EB-5 RIA), and the agency will begin to review and approve the investors’ I-526E petitions.
Group 12 Jackson Project
The Jackson project is a 14-story luxury mixed-use building, consisting of 73 residential units, over 15,000 sqft of retail space, bike storage, gym, lounge, party room and outdoor terrace. The project is developed by Strategic Capital – a U.S. subsidiary of CSCEC. Group 12 qualified for TEA under the High Unemployment category and successfully raised $20M EB-5 funds in just under 3 months of launch.
One of the key factors contributing to the remarkable popularity of the Group 12 Jackson Project is its prime location in the heart of Long Island City. Nestled within the vibrant borough of Queens, New York, Long Island City boasts a unique blend of urban sophistication and cultural charm. This dynamic neighborhood, with its stunning waterfront views of the iconic Manhattan skyline, has become a coveted destination for investors and residents alike. Its strategic positioning, with easy access to transportation hubs and a wealth of entertainment, dining, and cultural amenities, has made it an attractive choice for those seeking a thriving and cosmopolitan lifestyle in one of the most coveted areas of New York City.
Construction Progress
The construction on the Jackson Project is proceeding according to schedule. Currently, the project is in the process of installing the curtain wall, a significant milestone in its development. We anticipate that the exterior of the building will take its final shape by the end of this year, marking a significant visual transformation for this exciting project. With dedication and hard work, our team remains focused on the target completion date, set for the end of 2024. We look forward to witnessing the continued progress and the ultimate realization of the Group 12 Jackson Project.
Group 12 Investors Have Received EAD Cards & Advance Paroles
Many ARCFE investors (including Group 12 Jackson Project) and their families who filed concurrently has successfully received their EAD cards and Advance Parole documents. EB-5 concurrent filing is a process within the EB-5 investment immigration program that allows investors and their dependents to simultaneously submit their Form I-526E (“Immigrant Petition by Regional Center Investor”) and Form I-485 application along with Form I-765 and Form I-131. This streamlined approached enables investors and their dependents to legally live, study, work in the U.S., and re-enter the U.S. without having to apply for additional visas, while waiting for their I-526E petition to be approved. Concurrent filing provides a more efficient route towards obtaining a green card in the U.S.
5-Years Validity For EAD Card Through AOS
Investors filing concurrently now will be subjectOn September 20th, 2023, the Department of Homeland Security (DHS) announced another series of action to increase enforcement across the Southwest Border, with updates on the extending the validity period for EAD cards (work authorization) for Adjustment of Status (AOS) applicants. In their announcement, under the Improving Processing of Work Authorizations and Directly Communicating with Work Eligible Individuals section, DHS specifically states that:
Previously, EB-5 investors who file their I-526E petition concurrently with the AOS package (includes I-485, I-765 and I-131) are receiving EAD cards that are valid for only 1-2 years. If USCIS were unable to process their I-526E and I-485 petitions during that time, investors will need to file for renewal of their EAD cards in order to continue legally working in the U.S. Per the November 2023 Visa Bulletin published earlier this month, the EB-5 set aside categories still show CURRENT for all countries, and while the general processing expectation for I-526E is around 1-2 years, USCIS extending the validity of EAD card is still a positive news. For countries that are more prone to backlog like China or India, investors who file later and could potentially experiencing backlog will be able to save time, money and effort in applying for renewal.
Award-winning EB-5 Regional Center
ARCFE is an award-winning EB-5 regional center with over 10 years of experience in real estate financing. We were first designated by USCIS in 2013 an were redesignated under the EB-5 RIA in 2022. Our team consists of professionals in the immigration, real estate and financial industries, including team members who are CFA and CPA. As of today, ARCFE has successfully raised and managed EB-5 funds for 15 EB-5 projects in the Metropolitan New York area, with 100% approval rate. We have repaid 100% EB-5 funds to all eligible investors, totaling up to $54M as of April 2023.
Our priority is investors’ success in achieving their American Dream of becoming permanent residents and enjoying the benefits the U.S. has to offer. Our team works diligently to explore opportunities to provide investors with the best EB-5 projects and flexible investment solutions to meet with investors’ needs. We ensure that the services we provide will always put investors’ interests above anything else. As a company that is immigrant built, we believe in the extraordinary talents that new generations of immigrants could bring to this country, and we want to provide an opportunity for the next generations to explore their full potentials in a prosperous environment.
Find your American Dream with us today!
NEW YORK OFFICE
28-07 Jackson Ave, LIC, NY 11101
212-889-5333
info@arcfe.com
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