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Verified Project

Funding

Funding Needed
$23.2 (Mio)
EB5 Funding
$13 (Mio)
EB-5 Investors
26
Investment Amount
$500,000
Subscription Fee
50,000

Jobs

Job Creation per Investor
16.2
Job Creation (Total)
420
Category
Healthcare and Social Assistance
Sub-Category
Continuing Care Retirement Communities

Investment

Structure
Loan
Amount of EB-5 investors anticipated for this phase?
26
Expected Maturity
5 years (with possible extensions).
Expected Return
A preferred return of 0.5%.
Principal equity in project?
Yes

Immigration

Does this project have approved I-526's?
No
Does this Regional Center have approved I-526's?
Yes
Does this Regional Center have approved I-829's?
No

Location

State
California
Location
Murrieta, California

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Renaissance Village of Murrieta

Verified Project Crowd check verified seal small Impactdatasource verification logo small

Opened: November 21, 2014

Closed: May 13, 2015


Developer Name
Continental East Development

Project Description

Continental East Fund VI, LLC, a California limited liability company (the “Project Company”), will develop and operate the Renaissance Village of Murrieta (the “Renaissance Village”), an assisted living and memory care facility located in Murrieta, California. The Renaissance Village will feature a total of 161 beds, 113 of which will be assisted living beds, and 48 of which will be memory care beds. The Renaissance Village will be constructed at a total budget of approximately $23.2 million.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Project Timeline

The Project has received local Planning Commission Approvals to proceed to construction of Phase I Facilities. The Project construction will begin in the first quarter of 2014 and is scheduled to complete in the Q4 2016. Thus, the construction schedule exceeds 24 months. Phase I is estimated to take 18 to 20 months while Phase II of this Project is anticipated to take 2 to 6 months.


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