EB-5 Funding Approved for JFK Airport Redevelopment
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The New York City Regional Center, which helps secure EB-5 funding for real estate and infrastructure projects in New York City, has received approval to provide foreign investments in a redevelopment project at JFK International Airport that has transformed a vacant building into The ARK at JFK, an animal handling cargo terminal that recently completed its first phase.
Paul Levinsohn, co-managing principal of the NYCRC, said the United States Citizenship Immigration Services (USCIS) issued an I-924 petition approval for its JFK redevelopment project involving Building 78, a 172,165-square-foot facility on a 14.4-acre site that is now providing space to support general cargo operations and the agricultural industry at JFK Airport.
“This is an important milestone for a key redevelopment project in the city’s largest airport,” Levinsohn said of the I-924 petition approval.