I just read a Bloomberg piece on the number of millionaires from China looking to establish roots in America. KP Plaza is listed as another EB-5 opportunity: you can come to America, if you plunk down a million dollars...
From the CREDgroup website:
"EB-5
Our EB-5 Dream of Texas Regional Center Immigrant investment program is in fact the fastest, most simple and least expensive way to make a smart investment while acquiring a non-restrictive, Green Card and future U.S. citizenship for both the investor and his or her entire immediate family. There are two types of EB-5 investment opportunities:
· General. The minimum qualifying investment in the United States is $1 million.
· Targeted Employment Area (High Unemployment or Rural Area). The minimum qualifying investment either within a high-unemployment area or rural area in the United States is $500,000.
A $500,000 or $1,000,000 investment into a federally approved Regional Center and only $500,000 provided the investment is made in a designated Targeted Employment Area or rural area, and that it provides complete turnkey management of all business investments, daily management and full accountability for meeting the required job creations. This is the most popular choice for immigrant investors.
A targeted employment area is an area that, at the time of investment, is a rural area or an area experiencing unemployment of at least 150 percent of the national average rate.
A rural area is any area outside a metropolitan statistical area (as designated by the Office of Management and Budget) or outside the boundary of any city or town having a population of 20,000 or more according to the decennial census."
Our Project
The same racket is being used to sell the Astoria to foreigners.
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It looks like the taller buildings actually fit the site nicely without dominating it, so it can't really "tower" over the neighboring properties. Maybe Mister Tort Reform Hypocrite has been agitating in other neighborhoods besides his own.
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