SAN
FRANCISCO, June 21, 2024 /PRNewswire/ -- Golden Gate
Global (GGG) EB-5 Investment Fund is pleased to report
multiple green card petition approvals in its EB-5 project
Brooklyn Basin of Oakland Phase
2.
"We are thrilled that investors have received approval of their
conditional green cards. At Golden Gate Global, we strive to
balance investors' immigration and financial objectives.
Congratulations on reaching this pivotal milestone!" said
Steven Kay, Founder and Co-CEO of
GGG.
Approval of the application for a conditional green card (Form
I-526E) means that the United States Citizenship and Immigration
Services (USCIS) has greenlighted an EB-5 investor's source of
funds and the project's business plan. Thereafter, investors and
their dependents receive conditional green cards, which grants them
permanent residence status, affording unrestricted access to
education and employment opportunities across the United States.
Brooklyn Basin fundraising was
unique as approximately 45% of all investors reside in the United States on either H-1B work or F1
student visas. The EB-5 program's increased domestic popularity has
been attributed to the EB-5 Reform and Integrity Act of 2022's
(RIA) enablement of concurrent filing of adjustment of status and
employment authorization.
This procedure allows U.S.-based investors to remain in the
country and obtain employment without sponsorship while waiting for
their conditional green cards. H-1B and E-2 visa holders are using
EB-5 concurrent filing to prevent children from aging out and
losing status in the country.
Brooklyn Basin is a waterfront
community in Oakland, CA, 25
minutes from downtown San
Francisco. It consists of 2 multi-family developments on
parcels G and H. The finished buildings combine to offer 750+
multi-family units and 48,000+ square feet of retail space. The
Caspian building (parcel G) was
completed in Q4 2023 and is fully operational. According to
property manager Cushman & Wakefield, the current occupancy
rate is 40%+.
In addition to the good news from Brooklyn Basin, investors in GGG's Appellation
Sun Valley project have begun to receive Form I-526E approvals. The
firm has also received project approvals for all of its EB-5
projects sponsored since the RIA: Brooklyn Basin Phase 2, Appellation Sun
Valley, and Anasu Resort.
GGG is a leading EB-5 regional center headquartered in
San Francisco with a distinguished
track record, including:
- 100% USCIS project approval rate
- Raised over $750M in EB-5
capital
- Repaid over $210M to 420+
investor families
Press Contact: Jane Baklashov
info@3gfund.com
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SOURCE Golden Gate Global