A popular financing program is under fire as a Congressional deadline looms. Lawmakers could extend the EB-5 investment and visa program or enact changes that could make it more difficult for U.S. developers to fund projects, including in senior housing.
The EB-5 Regional Center Program allows foreign citizens to qualify for a U.S. residency visa if they make a significant development investment of at least $500,000 for a project that creates or preserves at least 10 jobs for U.S. workers. The program has become increasingly popular over the years in senior housing as well as for other types of projects, with many aimed at targeted employment areas (TEA), where unemployment rates are significantly higher than the national average.
Read more by clicking below image