The Northern Nevada economy continues to see impressive growth. Construction starts are increasing in efforts to meet the new demand for residential and commercial properties; thus, causing more worker shortages. While the Nevada State EB-5 Regional Centers sponsored project has been continuously manned, its completion has been somewhat delayed. Given the time delay, the project has adjusted its timeline for completion to early Summer of 2018.
Importantly tenants’ leases have not been impacted and will commence in the Spring of 2018. Further, the extension in completion time benefits H1-B Visa holders and immigrant investors by providing additional time to participate in this project and reap the benefits of the EB-5 Regional Program for permanent U.S. citizenship.
Project Update: January 5, 2018
Building A – Main Building 3-Story mixed use building. This building is anticipated to be completed by late first quarter of 2018.
Present Status:
1. Exterior framing is completed.
2. Roofing and interior waterproofing is completed.
3. Exterior windows and doors installed.
4. Exterior siding and trim details are in process.
5. Interior rough construction is also underway.
The work on Building A will continue through the winter as the building is weathered in.
The First Foor (Retail): An agreement with a family style restaurant has been made. The establishment will take up approximately 60% of the bottom floor. The tenant improvement plans are in process. Occupancy is estimated for no later than June 2018, depending on workforce availability. The Second Floor (Office): The second floor is approximately 80% leased. Tenant improvements are underway. Occupancy is estimated for no later than May 2018, depending on workforce availability. The Third Floor (Apartments): The 8 top floor apartments are rough framed. Currently, 16 parties are on the waitlist. In approximately 30 to 45 days, the tenants will be selected, assigned a unit and allowed to do minor customizations. Occupancy is estimated for April.Building B – This building is comprised of two stand-alone apartments with garages. It is complete except for a few minor items and will be ready for leasing within the next 30 days.
Building C – Garages for apartments. This building is complete except for minor items.
If you are an immigrant investor interested in this exceptional project, please contact NVEB-5. NVEB-5 will provide you with information about participation in the EB-5 Immigrant Investor Program and help direct you to the project owner for more details about the NVEB-5 sponsored project.