Haven Park Hotel in South Bronx New York City has been successfully renovated and rebuilt DURING the COVID shutdown in New York State.
As of January 29th, 2021 This TEA Approved EB5 Visa Investment, managed by BAI Capital, is fully built, ready to open to the public.
The Haven Park Hotel is a top-tier, four star, 71 room hotel located in South Bronx, New York City, New York. The building stands 10 floors tall with 8 hotel rooms per floor and amenities include a landscaped terrace, restaurant and bar, fitness center and parking garage for 56 cars.
Construction began in 2018, and continued throughout the last 2 years.
Haven Park Hotel, the upscale boutique hotel development jointly managed by Trise Corporation and Blue Road LLC has also been a TEA approved job creation project in accordance with the USCIS EB-5 Visa Investor Program. Located in South Bronx, minutes from Manhattan and Central Park.
Become American Investor LLC (BAI Capital) has been the legal entity in charge of the EB-5 capital raise. 248 jobs were created during the construction of Haven Park Hotel, well beyond the 60 jobs required for the 6 EB-5 Investors. According to USCIS regulations, foreign investors who invest significant amounts in the US economy and create at least 10 jobs through a development or redevelopment project, are eligible to petition for the US Green Card and US Permanent Residency.
The required investment amounts in the EB5 program in TEA (or Target Employment Areas) were $450,000 USD up until mid 2019, when the amount doubled to $900,000 USD.
The Haven Park Hotel developers Trise and Blue Road showed exceptional organizational capacity to be able to continue with construction as the hotel industry was decimated in 2020 by the lateral effects of the Coronavirus pandemic. To fund the development, total capital raised for preferred equity partners was $29,000,000 USD with $3,000,000 USD coming via the 6 overseas EB5 investors.
The completion of the Haven Park Hotel is clear proof that foreign investment can help bolster the US economy in boom times, as well as during economic downturns.
For more information on EB5 Visa Investments and Preferred Equity Real Estate Funds, contact one of the experts at BAI Capital today.