EB-5 Project Database:2017 Supplement with Trends and Observations

This marks the third year that we have released a paper that features a database of largescale real estate development projects incorporating EB-5 capital into the capital stack to fund the project’s construction and development. Our paper entitled “Roadmap to the Use of EB-5 Capital: An Alternative Financing Tool for Commercial Real Estate Projects,” released in May 2015, features a database of 25 of the largest real estate development projects (the “2015 Database). Our paper entitled “EB-5 Capital Project Database: Revisited and Expanded,” released in March 2016, features 27 additional projects (the “2016 Database”). (The two databases are referred to as the “Previous Databases,” and the database that is the subject of this paper is referred to as “this 2017 Database.”)

As detailed in this 2017 Database, EB-5 capital continues to thrive as a mainstream source of capital for real estate development projects. It flourishes despite the uncertainty surrounding the EB-5 Program posed by the looming threat of reform, and the threat of the upcoming September 30, 2017 sunset of the Regional Center Program. In addition, investors from mainland China face extended visa waiting lines currently approaching 10 years or longer to become conditional residents and receive their temporary green card.