New York City Regional Center (NYCRC) is a USCIS-designated regional center that has secured more than $1.5 billion in foreign capital for various projects and real estate around New York through the EB-5 Immigrant Investor Program. To date, NYCRC has completed 21 development projects in Brooklyn, Queens, Manhattan and the Bronx.
Approved by USCIS in 2008, it became the first EB-5 regional center approved in New York City. Under the EB-5 program and with the center’s guidance, more than 4,650 permanent green cards have been issued, as well as more than 5,700 conditional green cards. In addition, $125 million was repaid to the center’s first 250 investors.
NYCRC has also received more than 1,600 I-829 approvals and over 2,650 I-526 petition approvals.
Projects using loans provided by NYCRC-managed funds have included redevelopment of the George Washington Bridge bus station, a wireless network for New York City’s subway stations, redevelopment of a cargo facility at John F. Kennedy International Airport, redevelopment of the Brooklyn Navy Yard, construction of a food processing and distribution facility in the Bronx, expansion of Steiner Studios, construction of the City Point apartments in Brooklyn and expansion of the Hutchinson Metro Center in the Bronx.
NYCRC has also aided in the construction of a hotel and medical office complex in Washington Heights, components of Brooklyn’s Pacific Park (formerly known as Atlantic Yards) redevelopment project, and assisted with LinkNYC, a public-private project to bring wireless internet for New York City.