Houston EB5 woos investors with Thompson Hotel, residences
United States-based firm, Houston EB5 has unveiled its completed $70 million Astoria high-rise residential tower and launched another luxury development known as Thompson Hotel and Residences in San Antonio, Texas.
The tower received a great deal of interest with all 75 residences being sold-out before construction on the project was concluded. In 2010, Houston EB5 tapped a federal program targeting wealthy foreigners to fund their real estate projects; a $70 million residential tower in the vibrant Houston Galleria area called Astoria and a $48 million eight-storey, 242-unit apartment building in the heart of Downtown Houston called Block 384. The raise for Astoria was completed with $30million from EB5 investors and the raise for Block 384 with $12million.
Houston EB5 is a real estate investment company offering potential investors, the opportunity of investing in real estate developments in Houston Texas. In addition to the prospect of a good return on investment on the project, investing in this project will qualify investors for permanent residency in the United States through the EB-5 program.
3INVEST in partnership with Houston EB5 are raising capital for Thompson Hotel and Residences San Antonio in the region. The Thompson Hotel and Residences position itself as the premier luxury boutique hotel in San Antonio. Consisting of 20 storeys, the 170 guestroom – 56 residence hotel will feature 15,000 square feet of riverfront meeting space and a Skybar Club, providing sweeping views of the City.
Designed to meet and compliment the needs of the San Antonio market, the Thompson San Antonio Hotel gives way to unrivaled elegance and comfort.
Houston EB5 boasts a 100 per cent success rate on Green Card approvals and because of this success; they have now completed their third raise of $13M for Marlowe, a luxury residential tower in Downtown Houston.
Other projects currently undergoing successful raise include Imperial Refinery District Lofts and Arabella, a contemporary high-rise residential tower.
Like previous Houston EB5 projects, Thompson San Antonio has received great support from both the City of Houston and San Antonio. A “TEA” designation has been assigned to both projects, lowering the minimum investment amount to $500,000 as opposed to $1,000,000.
Through the marketing of previous projects, Houston EB5 has established strong investor pipelines in both Latin America and Africa, helping to assure complete capitalization of projects, said Emilio Guzmán, Chief Investor Relations of Houston EB5. The USCIS is also considering raising the minimum investment amount from $500,000 to $800,000 in September 2016 so interested investors should aim to complete their investment before the proposed increase, said Acho Azuike, Managing Director of Houston EB5.
The EB5 Investment Program is administered by the U.S. Citizenship & Immigration Services under the Department of Homeland Security. It allows investors who make a qualified investment to fast track permanent legal residency in the United States for themselves and their immediate family without the usual roadblocks or red tape associated with the immigration process.