USCIS Approves New EB-5 Regional Center for Mixed-Use Shopping Center Developments in 5 Southern California Counties
On June 10, 2008, USCIS issued an approval notice to
Regional Center Properties LLC ("RCP") under the EB-5
Employment-Creation ("Immigrant Investor") immigrant
visa category. Under the EB-5 category, a foreign citizen,
along with his or her spouse and minor children, may qualify
for U.S. lawful permanent residency (a "green card")
by investing $500,000 or $1 million (depending on location of
the investment) and serving as a limited partner in a regional
center development. The approval of regional-center designation
confirms that RCP submitted an acceptable job-creation model
and econometric model for proposed mixed-use shopping-center
developments in Los Angeles, Orange, Riverside, San Bernardino,
and San Diego counties. RCP is headed by three managing members
- Nelson Mamey, J.D., an experienced real estate financier and
developer, and well-known immigration attorneys Stephen
Yale-Loehr and Angelo A. Paparelli. RPC is evaluating
development opportunities and expects to have its first
shopping-center development in the coming months. This
announcement of the USCIS approval is presented as a news item
and is not a solicitation of offers for investment. The USCIS
approval notice can be found at: http://tinyurl.com/5lqetd.
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