City Connections Regional Center (CCRC) is approved by the United States Citizenship and Immigration Services (USCIS), a division of the United States Division of Homeland Security, to raise capital via the EB-5 Program. CCRC will work with economic development agencies and government entities to provide loans for real estate projects in New York City that create jobs in areas of high unemployment.
While the EB-5 Program’s primary goal is to use foreign capital to spur economic growth through job creation, and simultaneously provide foreign investors the opportunity to become lawful permanent United States residents, CCRC also sees the regional center program as a means to achieve positive social change. By working closely with federal, state and municipal agencies, CCRC plans to focus on leveraging EB-5 funding to develop projects that will provide lasting benefits in New York City and the surrounding geographical area.
CCRC will work with developers of affordable housing and assisted living facilities, recreational centers and other community-oriented projects. By combining EB-5 funding with available grants and initiatives, CCRC may help smaller developers construct projects that they might otherwise not be able to pursue and in the process maximize the overall benefits from the Regional Center Program.