Hudson Companies plans to seek an infusion of Chinese capital in the form of EB-5 for its Brooklyn Heights library redevelopment project, which includes a 36-story condominium tower.
The David Kramer-led development firm is planning to raise up to $110 million for the project through the popular immigration program, which awards foreign investors a U.S. green card in exchange for $500,000. The funds will be used toward the construction of a 139-unit condo tower with a 27,000-square-foot library branch at the base, as well as two new rental buildings housing a combined 114 affordable units, Kramer told The Real Deal. The development’s address will be 1 Clinton Street.
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