Funding

Funding Needed
$2 (Mio)
EB5 Funding
$2 (Mio)
EB-5 Investors
4
Investment Amount
$500,000

Jobs

Job Creation per Investor
17.5
Job Creation (Total)
70
Category
Accommodation and Food Services
Sub-Category
Hotels (except Casino Hotels) and Motels

Location

State
New York
Location
New York

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Best Western Yankee Stadium Inn


Developer Name
Sita Ram LLC

Project Description

Best Western Yankee Stadium Inn is expected to be the best choice for hotel service in the Bronx area, and as such, will be able to collect a higher rate and achieve a higher accupancy than its competitors. The hotel is projected to achieve approximately 80% average occupancy in the first year, levelling out at above 90% by year 5. Sita Ram LLC will be responsible for the management of the property. It has over 50 years' of experience in purchasing, development and management of hotel properties. 

USEDLC approved and funded the loan for Staybridge Suites in June, 2015.

Project Timeline

The construction timeline is 18 months and it is expected to open in December, 2016. 

Regional Center

American Lending Center LLC (former name US Employment Development Lending Center)
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