New life is being breathed into a historic high-rise building in Alabama.
The 12-story Bell Building in Montgomery is undergoing a $25 million renovation thanks to help from Chinese investors, according to the Montgomery Advertiser.
Once complete, the building will house 88 luxury loft apartments, as well as retail and restaurant space. Approximately 85 jobs will be created as a result of the project.
Funding for the renovation is coming from historic tax credits, a federal construction loan and the EB-5 Investor Visa Program. In exchange for speeding their status as legal permanent residents in the U.S., Chinese investors provided almost $4 million to renovate the building.
Featured on the National Register of Historic Places, the Bell Building sold in 2014.
Ausfeld & Blount, a local architectural firm, designed the original building, and once complete, it stood as Montgomery's tallest building in 1910.
Subscribe for News
This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.