- Funding Needed
- $175 (Mio)
- EB5 Funding
- $104 (Mio)
- EB-5 Investors
- 208
- Investment Amount
- $500,000
- Job Creation per Investor
- 13.1
- Job Creation (Total)
- 2729
- Category
- Construction
- Sub-Category
- Land Subdivision
- State
- Pennsylvania
- Location
- Malvern, Pennsylvania
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- Last Update: February 04, 2015 01:01 PM
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Uptown Worthington
Project Description
Located in Malvern, Pennsylvania, in the heart of Philadelphia’s Main Line, Uptown Worthington is a 1.6 Million square foot live, work & play lifestyle center with 695,000 square feet of total retail space, 13 restaurants, 200,000 square feet of Class-A office space, 753 luxury apartments and a 152 room boutique hotel. Because Uptown Worthington is located in a highly populated area with an extreme concentration of wealth, the success of the site ensures job creation and investment recovery.
Public Funding & Support
AmericaNow Philadelphia Metro Regional Center is supported and funded in part by local government. The current developer equity invested in the project is over USD $72,00,000. Additional funding comes from the following sources:
USD $20 million Commonwealth Finance Authority, Building PA Loan Fund
USD $11 million PENNVEST Brownfield Remediation Program
USD $8.8 million State of Pennsylvania RACP Grant
USD $5 million State of Pennsylvania BIOS Loan Fund
Job Creation
Uptown Worthington is an approved Targeted Employment Area (TEA). The EB-5 portion of the project will result in 2,729 New US Jobs being created. Seeking USD $110 million from 220 investors, the Uptown Worthington project will result in a job cushion of over 20%
2,567 new construction jobs
162 new jobs from operations
Regional Center
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