Funding

Funding Needed
$150.8 (Mio)
EB5 Funding
$49.5 (Mio)
EB-5 Investors
99
Investment Amount
$500,000

Jobs

Job Creation per Investor
14.8
Job Creation (Total)
1469
Category
Accommodation and Food Services
Sub-Category
Hotels (except Casino Hotels) and Motels

Location

State
California
Location
Santa Barbara, California

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Woodridge: La Entrada de Santa Barbara : Group 34


Developer Name
Woodridge Capital Partners, LLC (Woodridge)

Project Description

CMB once again has the opportunity to work with Woodridge Capital Partners, LLC (Woodridge). CMB and Woodridge have also demonstrated a track record of success as CMB Texas Infrastructure Investment Group 24, also known as College Station has received approval of its I-924 Exemplar Petition. 
The La Entrada de Santa Barbara project or “La Entrada”, will consist of the development of a 123-room luxury hotel and approximately 10,000 square feet of retail space to be located just one block from the beach. CMB EB-5 funding will assist in the financing of all pre-development, demolition, horizontal and vertical construction of the project.

Project Timeline

Construction activities for the project commenced 2nd Quarter 2014, completion of construction is anticipated for 3rd Quarter 2016.


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