NEW YORK CITY REGIONAL CENTER ANNOUNCES I-829 PETITION APPROVALS IN ITS FRESH DIRECT PROJECT (PHASE I)
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The issuance of the
The Project included the first phase of construction of Fresh Direct's new headquarters in the
Construction of the Project is complete and all
NYCRC was approved by the United States Citizenship and Immigration Services in 2008 to secure foreign investment for real estate and infrastructure projects under the EB-5 Immigrant Investor Program. The company was the first regional center approved in
$811 millionto finance ground-up, redevelopment, and infrastructure projects in Brooklyn, including eight projects totaling $383 millionin the Brooklyn Navy Yard; $108.5 millionto finance ground-up and redevelopment projects in Washington Heights(an Upper Manhattan Empowerment Zone); $232.5 millionto finance the construction of a public high-speed wireless infrastructure network in New York Citysubway stations and along city streets; and, $220 millionto finance ground-up construction in the Bronx.
In addition, since 2016, a NYCRC-managed entity has received five separate new market tax credit awards from the U.S. Department of Treasury totaling
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