How can an EB-5 direct business be changed during conditional residence?

No, you may not change to another commercial enterprise at the removal of the conditional permanent residence stage.

If you feel the business will not meet I-829 criteria, you need to make a new investment and refile a new I-526.

You would need to do another I-526 if the changes are considered "material" based on the original business plan.

You will have to make a new investment, either after getting the funds back from your current business or as in addition to, into a new business, and apply for the I-526. This is a new filing and once it is approved, you will be given another conditional green card on the new business. As you have experienced already, because your immigration status is dependent on the success of your business to create and maintain 10 full-time, permanent jobs, you should be doubly diligent on choosing your next investment vehicle/business. Good luck.

Changing the investment project is not usually allowed. Any "material change" would need approval by USCIS. The best course of action is to try and correct the problems with your current investment. It sounds as though you have not yet received a conditional card (?) You should contact an experienced EB-5 attorney and get advice as to how to correct your problems with job creation.

To invest into a new New Commercial Enterprise, a new I-526 petition must be submitted. Changes to the New Commercial Enterprise/Job Creating Entity may occur during the period of conditional permanent residency as long as they are not "material changes." Significant changes to the project as described in the business plan may result in a denial of the I-829 petition.