[PRNewswire] New World Regional Center Closes Successful EB-5 San Francisco
Treasure Island Phase 1 Project
- Vertical construction initiated June 2019
- Announced launch of Treasure Island Phase 2 Project
(SEOUL, South Korea, Sept. 5, 2019 PRNewswire=연합뉴스) New World Regional Center ("NWRC") announced that the EB-5 Treasure Island Phase 1 Project in San Francisco successfully closed in late July 2019 and the Phase 2 Project is being introduced to the Korean market to eligible Korean EB-5 petitioners.
Treasure Island is a man-made island connected to Yerba Buena Island which is located in the middle of the Bay Bridge between the cities of Oakland and San Francisco. In 1938, Treasure Island was built by the U.S. Army Corps of Engineers over a two-year period. Approximately two thirds the size of Korea's Yeouido Island, Treasure Island was originally intended to be used as an airport. However, after hosting the World Expo in 1939, the island was used by the U.S. Navy as a training facility until 1997.
The U.S. Navy is turning over Treasure Island and Yerba Buena Island to the City and County of San Francisco, which has chosen a development partner to redevelop the islands. The Treasure Island Master Project is divided into 8 phases for the development of both Yerba Buena Island and Treasure Island. Treasure Island Phase 1 Project consists of demolishing existing old facilities and developing permanent infrastructure improvements on Yerba Buena Island and Sector 1 of Treasure Island. Construction of permanent infrastructure improvements began in 2016 and is ongoing. In May 2019, the Project broke ground on vertical construction of Yerba Buena Island, which will include a series of villas and flats - all facing the San Francisco skyline - that will be terraced down the hill from a 6-acre park at the peak. The other side of Yerba Buena Island will feature a 124-unit condo complex that overlooks the Bay Bridge and the Berkeley-Oakland shoreline.
The EB-5 Treasure Island Phase II Project will be implemented on Treasure Island Sector 2 and will include construction of electrical and manual utility systems, parks and plazas, road improvements to and from Yerba Buena Island, and improvements to the ferry terminal. Around the time of completion in 2023, the master plan will include construction of approximately 900 residential homes and 3,716㎡ of business and commercial facilities.
During a site tour of Treasure Island in July 2019, Kristine Stamper, Executive Director of New World Regional Center (NWRC) said "We are delighted that all San Francisco citizens, government bodies and developers are able to come together to redevelop this large piece of scenic land in San Francisco. Within a few years, Treasure Island will look very different from today and be transformed into something very special!"
New World Regional Center (NWRC) received its Regional Center status in 2011. NWRC is part of the US Regional Center Group (USRCG) which currently manages approximately $1.4 billion in EB-5 funding commitments in aggregate and has received more than one thousand I-526 approvals.
Other EB-5 projects managed by USRCG include the Boston Echelon condominium project with Hana Alternative Investments and the Metropolis condominium project in Los Angeles. USRCG has a total of 10 approved regional centers, including NWRC in San Francisco, Boston Regional Center in Boston, FDIUS Regional Center in Los Angeles, as well as other regional centers located in Florida, New York and Texas.
This press release is intended for general information purposes only and does not represent an offer or solicitation to buy or sell any security. Investment opportunities are available only to qualified investors via a confidential offering memorandum.
Source: New World Regional Center
[편집자 주] 본고는 자료 제공사에서 제공한 것으로, 연합뉴스는 내용에 대해 어떠한 편집도 하지 않았음을 밝혀 드립니다.
(끝)
<저작권자(c) 연합뉴스, 무단 전재-재배포 금지>
Treasure Island Phase 1 Project
- Vertical construction initiated June 2019
- Announced launch of Treasure Island Phase 2 Project
(SEOUL, South Korea, Sept. 5, 2019 PRNewswire=연합뉴스) New World Regional Center ("NWRC") announced that the EB-5 Treasure Island Phase 1 Project in San Francisco successfully closed in late July 2019 and the Phase 2 Project is being introduced to the Korean market to eligible Korean EB-5 petitioners.
Treasure Island is a man-made island connected to Yerba Buena Island which is located in the middle of the Bay Bridge between the cities of Oakland and San Francisco. In 1938, Treasure Island was built by the U.S. Army Corps of Engineers over a two-year period. Approximately two thirds the size of Korea's Yeouido Island, Treasure Island was originally intended to be used as an airport. However, after hosting the World Expo in 1939, the island was used by the U.S. Navy as a training facility until 1997.
The U.S. Navy is turning over Treasure Island and Yerba Buena Island to the City and County of San Francisco, which has chosen a development partner to redevelop the islands. The Treasure Island Master Project is divided into 8 phases for the development of both Yerba Buena Island and Treasure Island. Treasure Island Phase 1 Project consists of demolishing existing old facilities and developing permanent infrastructure improvements on Yerba Buena Island and Sector 1 of Treasure Island. Construction of permanent infrastructure improvements began in 2016 and is ongoing. In May 2019, the Project broke ground on vertical construction of Yerba Buena Island, which will include a series of villas and flats - all facing the San Francisco skyline - that will be terraced down the hill from a 6-acre park at the peak. The other side of Yerba Buena Island will feature a 124-unit condo complex that overlooks the Bay Bridge and the Berkeley-Oakland shoreline.
The EB-5 Treasure Island Phase II Project will be implemented on Treasure Island Sector 2 and will include construction of electrical and manual utility systems, parks and plazas, road improvements to and from Yerba Buena Island, and improvements to the ferry terminal. Around the time of completion in 2023, the master plan will include construction of approximately 900 residential homes and 3,716㎡ of business and commercial facilities.
During a site tour of Treasure Island in July 2019, Kristine Stamper, Executive Director of New World Regional Center (NWRC) said "We are delighted that all San Francisco citizens, government bodies and developers are able to come together to redevelop this large piece of scenic land in San Francisco. Within a few years, Treasure Island will look very different from today and be transformed into something very special!"
New World Regional Center (NWRC) received its Regional Center status in 2011. NWRC is part of the US Regional Center Group (USRCG) which currently manages approximately $1.4 billion in EB-5 funding commitments in aggregate and has received more than one thousand I-526 approvals.
Other EB-5 projects managed by USRCG include the Boston Echelon condominium project with Hana Alternative Investments and the Metropolis condominium project in Los Angeles. USRCG has a total of 10 approved regional centers, including NWRC in San Francisco, Boston Regional Center in Boston, FDIUS Regional Center in Los Angeles, as well as other regional centers located in Florida, New York and Texas.
This press release is intended for general information purposes only and does not represent an offer or solicitation to buy or sell any security. Investment opportunities are available only to qualified investors via a confidential offering memorandum.
Source: New World Regional Center
[편집자 주] 본고는 자료 제공사에서 제공한 것으로, 연합뉴스는 내용에 대해 어떠한 편집도 하지 않았음을 밝혀 드립니다.
(끝)
<저작권자(c) 연합뉴스, 무단 전재-재배포 금지>
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