101 TriBeCa, a 63-story, $735-million condo tower, broke ground in late July in Manhattan, thanks in part to $175 million raised through the EB-5 program by U.S. Immigration Fund.
EB-5 investor program teethes on the brink of expiration next month. And proposed changes to its requirements — tied inexorably to the larger issue of immigration reform — have made it yet another congressional hot potato. With the program’s September 30th sunset date quickly approaching, a growing number of supporters are joining advocacy efforts supporting reauthorization. Both the U.S. Conference of Mayors and the National Association of Counties recently adopted resolutions affirming their support for the program, says Invest in the USA (IIUSA), a trade association representing more than 240 EB-5 Regional Centers.