HAP Investments – which has cycled through multiple designs for a planned rental-condominium development in Chelsea – is now seeking $60 million from EB-5 investors for the project.
Eran Polack’s development firm is tapping the popular visa program, which awards a green card to foreigners who invest $500,000, for HAP’s $387 million development, according to EB-5 marketing materials.
Located at 215-227 West 28th Street, the project includes two adjoining, mixed-use buildings with retail at the base. One building will house rental apartments and the other will feature condos.
HAP did not immediately comment.
The project has gone through several design iterations, including renderings by ME Architects and Karim Rashid. The latest rendering depicts a two-building design by DXA Studio.
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