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Not Verified Project

Funding

Funding Needed
$315 (Mio)
EB5 Funding
$75 (Mio)
EB-5 Investors
150
Investment Amount
$500,000
Subscription Fee
50,000

Jobs

Job Creation per Investor
17.6
Job Creation (Total)
2641
Category
Accommodation and Food Services
Sub-Category
Hotels (except Casino Hotels) and Motels

Investment

Structure
Loan
Amount of EB-5 investors anticipated for this phase?
150
Expected Maturity
Five years from the date of the last Advance, the “Maturity Date”, which may be extended for another 5 years.
Expected Return
Financial returns depend upon the profitability of the Project.
Principal equity in project?
Yes

Immigration

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

Location

State
New York
Location
New York

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Michael GibsonWALEED  IBRAHIM

Last Update: February 04, 2015 10:36 AM

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NYC Subway Infrastructure Development Fund


Developer Name
Transit Wireless, LLC

Project Description

The Project is another step in the MTA’s effort to bring its mass transit system into the 21st century by improving its subway system so that it runs at unprecedented levels of efficiency and enhances the travel experiences of its customers. As noted, the Project includes the construction of wireless voice and data communication infrastructure in select underground subway stations in Queens and Manhattan. The construction of the wireless infrastructure network will allow full cell phone and Wi-Fi connectivity in stations, enabling voice and data functions such as phone calls, text messages, emails, music, and video streaming. The new wireless system will also enable services that improve safety and security by allowing dispatchers to know when a call is being placed underground and the approximate location of the caller. MTA employees and first responders will also have the opportunity for enhanced communications capability in an emergency. The Project will also include complementary construction work on stations, lines, and yards in Queens and Manhattan such as structural improvements to subway lines, the repair and rehabilitation of stations, the replacement of power distribution systems, and the modernization of track signal interlockings that will allow for the implementation of communications-based train control in the future.


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