EB5 Capital’s Riverfront at the Navy Yard (JF8) Project Receives First I-829 Approval

WASHINGTON, July 24, 2023 (GLOBE NEWSWIRE) — EB5 Capital is pleased to announce that it has received notice from the United States Citizenship and Immigration Services (USCIS) regarding the first I-829 petition approval associated with an investor in the firm’s Riverfront at the Navy Yard (JF8) project. The I-829 approval marks a significant achievement for the investor, who has now been granted permanent residency status by USCIS.

Riverfront at the Navy Yard, a 9-story apartment building boasting 305 luxurious units, is strategically situated along the picturesque riverfront in southeast Washington, DC, near the iconic United States Capitol building. Complementing the development’s elegance is 20,000 square feet of ground-floor retail space, state-of-the-art below-grade parking, and an array of upscale amenities. Conveniently adjacent to both Nationals Park and the Audi Stadium, residents can enjoy unparalleled access to world-class entertainment and sporting events.

“It is rewarding to witness this industrial and historical district, established in the late 1700’s, transform into such a vibrant urban neighborhood, entertainment hub, and waterfront destination,” said Brian Ostar, President of EB5 Capital. “We are proud that our EB-5 investors could be part of this transformation, and we look forward to seeing additional I-829 approval notices for this project soon.”

EB5 Capital played a vital role in financing the construction of this project, successfully raising $17 million to support its development. Since opening its doors to the public in 2016, the apartments have garnered immense popularity, resulting in the refinancing of the EB-5 loan the following year. Recognized as one of the largest riverfront redevelopment projects in the nation, the Capitol Riverfront area continues to attract residents and visitors alike with its blend of commercial, residential, and recreational offerings.

EB5 Capital extends its heartfelt congratulations to our investor for obtaining the I-829 approval and achieving permanent residency status through the Riverfront at the Navy Yard project. The success of this venture exemplifies the positive impact the EB-5 program has on job creation and community development.

About EB5 Capital

EB5 Capital provides qualified foreign investors with opportunities to invest in job-creating commercial real estate projects under the United States Immigrant Investor Program (EB-5 Visa Program). As one of the oldest and most active Regional Center operators in the country, the firm has raised approximately one billion dollars of foreign capital across more than 35 EB-5 projects. Headquartered in Washington, DC, EB5 Capital’s distinguished track record and leadership in the industry has attracted investors from over 70 countries. Please visit www.eb5capital.com for more information.

Katherine Willis
Director, Marketing & Communications

GlobeNewswire Distribution ID 8879751

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