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Mixed-Use Redevelopment Entitlement and Permits

The EB-5 Program is Reauthorized

11.03.2022 all Real Estate Industry News, EB-5 Project Feasibility Consultants, Economic Development Consultants, Economic Development Growth Monitor, Industrial and logistics real estate consultants, News about acquisitions and financing, News about economic development, News about local government real estate, Office and Industrial Facilities Consultants, Opportunity Zone Consultants, Project Consultants for North America, Project Consultants for Tribes and First, Project Feasibility Consultants, Public Sector Work, Real Estate Consultants, StoneCreek Partners News and Research, Tourism Destination Strategy Consultants

President Biden signed legislation today with the effect that the EB-5 program is reauthorized, in particular its Regional Center component, effective now through September 30, 2027.  The program is part of the EB-5 Reform and Integrity Act of 2022 (the “Act”), which itself is part of the Omnibus spending bill signed by the President.

 

The reauthorization of the Regional Center program follows an almost 9 month lapse, when prior efforts failed to extend the program beyond July 1, 2021.  The Regional Centers aspect of EB-5 have allowed foreign investors a special opportunity to invest in high-profile developments that they likely would not otherwise find accessible.  The EB-5 program had its controversies and numerous parties had worked to place safeguards to prevent fraud and encourage investment in areas that followed from the original intent of the program.

 

The EB-5 program allows foreign investors to invest a specified amount of capital into a U.S. enterprise that creates American jobs, in return for permanent residency.  With passage of the EB-5 Reform and Integrity Act of 2022, changes were made to the program to presumably improve its implementation.  The new legislation emphasizes compliance with EB-5’s intent along with enforcement procedures.   Program sponsors under EB-5 will face greater scrutiny in recordkeeping, investment types, audits, and investor communications.   The minimum EB-5 investment amount now increases to $800,000 from the current $500,000 for Targeted Employment Areas and Rural Areas,  and, changes to $1.05 million from the current $1.0 million for Non-Targeted Employment Areas.  These changed minimum investments apply to both regional center and direct EB-5 investments.

 

With the news that the EB-5 Program is reauthorized, a backload of foreign investors who were in the midst of processing last June, will hopefully soon see progress in the processing of their investment / visa applications.

 

The EB-5 Immigrant Investor Visa Program was created in 1990 by the Immigration Act of 1990.

Feasibility Study for Hotel Project

Feasibility Study for Hotel Project

01.09.2019 Hotel Development Consultants, Project Feasibility Consultants

Feasibility study for hotel project at LAX in Los Angeles, including market analysis, a relative order-of-magnitude (“ROM”) capital budget, facilities recommendations, and financial projections.   Our financial projections included several scenarios to estimate varying potential operating results depending upon the build-out and facilities enhancement program at Los Angeles International Airport.

 

As hotel development consultants we provided a project feasibility report, including market analysis with financial projections, facility recommendations, and hotel franchise affiliation recommendations, for this (then) planned commercial hotel situated along Century Boulevard at the Los Angeles International (LAX) Airport.

 

The facility was eventually designed for 747 guest rooms within a 12-floor building envelope.  An interesting aspect of the hotel feasibility analysis was identifying the facilities and amenities to attract business travelers to stay in the airport area rather than the extensive overnight accommodations available throughout Los Angeles.

 

Our work was prepared for Watt High-Rise, Inc., then an operating division of the Watt Companies. Inc.  headquartered in Santa Monica, California.   Watt Companies has developed a diversified portfolio of real estate properties, including commercial real estate, hotels, and master-planned communities.

 

The property opened as a Stouffer Hotel and was later re-flagged as The Westin Los Angeles Airport.   Our work as development feasibility consultants in preparing the project feasibility study for this hotel project, was completed prior to the branding change from Stouffer branding to Westin.

StoneCreek Economic Development Consultants & Planners

Feasibility Analysis – South Tahoe Redevelopment Plan

19.08.2018 Public Sector Work, Redevelopment Project Consultants

South Tahoe Redevelopment Agency  |  A feasibility study and program implementation plan was prepared for several districts in the community of South Tahoe (California / Nevada).

 

The Project Area for the South Tahoe Redevelopment Agency (STRA) was adopted on June 28, 1988 by Ordinance NO. 746. The Project Area is located in the northeast portion of the City of South Lake Tahoe and encompasses approximately 174 acres. Major land uses include tourist facilities and commercial development. The Project Area generally runs along Highway 50 from just west of Ski Run Boulevard to the California-Nevada border.

 

Real Estate Consultants - Office and Industrial

Feasibility & Due Diligence – The Edge Flex-Tech Office Park

19.08.2018 Due Diligence Consultants, Office and Industrial Facilities Consultants

GE Capital  |  Real estate project consultants for feasibility analysis to support lender’s analysis of planned flex-tech office development.   StoneCreek Partners prepared a market feasibility evaluation of this El Segundo (Los Angeles County) flex-tech office park, as part of underwriting for a loan by lender GE Capital to the project’s developer. Study included review of comparable facilities throughout Southern California.

 

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