July 14, 2015
Today's Featured News
How A $500,000 Green Card Started Fueling Chicago Hotel Developments 
Crain's Chicago Business


EB-5 investors have been drawn to Chicago hotel projects, including the hybrid hotel/condo Wanda Vista (Studio Gang Architects).

 
For decades, the EB-5 visa program has provided a means for developers to fund projects, and for foreign investors to become U.S. residents. The program provided a needed lifeline after the recession made it difficult for many developers to find local investors, and despite increased scrutiny from Congress, remains a popular option today. As Crain's Chicago Business reports, Chicago has lured a number of overseas investors for several high-profile hotel projects in recent years, including the Godfrey Hotel in River North and Wanda Vista being developed along the river. Read more to learn how Chicago has leveraged this option and why many hope the program will be renewed in the fall.

 
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