Interesting article in DNAinfo
“The program, which enables developers to tap low-interest funding, is intended to be a job-generator for high-poverty and high-unemployment areas.
In reality, EB-5 is helping fund some of the city’s swankiest projects from some of the top developers like Silverstein Properties’ towering, ultra-luxurious Four Seasons Hotel New York Downtown rising at 30 Park Place, the Durst Organization’s Danish-desinged glassy pyramid-shaped high-end rental rising on West 57th Street and Kushner Real Estate Group’s NoMad tower at 281 Fifth Ave.
EB-5 has also been used for infrastructure and industrial projects like the George Washington Bridge Bus Terminal, Battery Park’s Pier A renovation, the redevelopment of Manhattan’s East River waterfront, and the expansion of Steiner Studios at the Brooklyn Navy Yard.”