An abandoned hotel resort on Saipan is expected to get a makeover which would help solve a dearth of hotel rooms on the island.
Bridge Capital LLC says it is planning to redevelop the mothballed Plumeria Resort property in Achugao and restore it to its former glory as an EB-5 project.
The EB-5 programme was created by Congress in 1990 to stimulate the US economy through job creation and capital investment by foreign investors.
The company envisions the new development will include a pool and beach area, restaurants, a spa and an electronic gaming facility with slot machines.