- Funding Needed
- $356 (Mio)
- EB5 Funding
- $37.5 (Mio)
- EB-5 Investors
- Investment Amount
- Subscription Fee
- Job Creation per Investor
- Job Creation (Total)
- Land Subdivision
- Amount of EB-5 investors anticipated for this phase?
- Expected Maturity
- 5 years, from time of funding.
- Expected Return
- Principal equity in project?
- Does this project have approved I-526's?
- Does this Regional Center have approved I-526's?
- Does this Regional Center have approved I-829's?
- Westlake, Ohio (Suburban Cleveland)
- Last Update: April 20, 2015 10:08 AM
Your Project was viewed 60 times (totally).
For the last 7 days 0 times.
- Developer Name
- Stark Enterprises
Expansion at Crocker Park can be broken down into three main components: Phase III, K Block, and the American Greetings Headquarters.
1) Phase III extends Crocker Park’s Main Street to the south, adding buildings with ground floor retail and high-end apartment units on the upper floors.
2) The K Block will be built at the north end of Crocker Park and consists of a Hyatt Place Hotel with ground floor commercial space for restaurants and bars. The Hyatt adds an important dimension to the development, providing lodging not only for Crocker Park but also for the numerous corporate guests that the American Greetings global headquarters is anticipated to draw.
3) The American Greetings Headquarters is the largest component of the expansion with the construction of a new facility comprised of more than 63,200m2 of office and retail space.
The EB-5 loan is divided into 3 advances. The first $12 million will be used to partially fund the construction of 316 upscale apartment units. The second advance of $19.5 million will be used for the partial funding for the construction of the new Hyatt Place Hotel. The third advance of $6 million will be used to partially fund the construction of paid parking facility adjacent to Hyatt Place Hotel.
Q1- Receive building permits
Q2- Construction begins on Crocker Park Phase III
Q3- Construction begins on American Greetings Headquarters
Q1- Construction begins on K Block
Q3- Interior fit-out of Crocker Park Phase III and of the American Greetings Headquarters starts
Q4- Interior fit-out of K Block starts
Q1- Crocker Park and American Greetings Retail spaces open
Q3- Move in to American Greetings Headquarters begins
Q4- Crocker Park Apartments ready for move-in
This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.