WASHINGTON, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Today, EB5 Capital announced that investors in its Columbia Place (JF9) project have started receiving I-829 approvals from the United States Citizenship and Immigration Services (USCIS). These approvals signify the investors' eligibility for permanent residency, as they demonstrate the successful creation of at least ten full-time jobs for the US economy through their EB-5 investment.
Columbia Place is a distinguished dual-branded Courtyard and Residence Inn by Marriott International, adjacent to the Marriott Marquis and Walter E. Convention Center in Washington, DC. The project, a 13-story development, is comprised of 504 hotel rooms, 10,000 square feet of shared meeting space, 7,000 square feet of ground-floor retail, and rooftop amenities. The development preserved and integrated eight historic buildings.
"Reaching the I-829 approval stage is a critical milestone in the EB-5 immigration process," said Molly FitzGerald, Director of Investor Communications and Engagement at EB5 Capital. "It indicates to USCIS that the project was built, the jobs were created, and the investors are now eligible for permanent residency. We are pleased with this first approval notice, and we look forward to receiving additional approvals from USCIS soon."
EB5 Capital successfully raised $40.5 million to support the development of Columbia Place before its grand opening to the public in November 2018. Including Columbia Place, EB5 Capital has funded 13 hotel projects across the US, nine of which proudly operate under the Marriott brand name. Columbia Place is one of many EB5 Capital projects contributing to job creation and economic growth in DC, further demonstrating EB5 Capital's commitment to making a positive economic impact wherever it invests.
About EB5 Capital
EB5 Capital provides qualified foreign investors with opportunities to invest in job-creating commercial real estate projects under the United States Immigrant Investor Program for more information.
Contact:
Katherine Willis
Director, Marketing & Communications
media@eb5capital.com
