EB-5 Project in Anniston Approved by Government

Dec. 10, 2015 - PRLog -- American Investor Immigration Funds ("AII Funds") is pleased to announce the USCIS approval of investor petitions filed in connection with the ASHD, LP EB-5 Project. This Anniston Senior Housing Development project involves the rehabilitation of the Fort McClellan in Anniston, Alabama. The former military installation was shut by the government in the late 90's and is now being converted to a senior living facility including both independent and assisted living units.

Fifteen EB-5 investors have committed $7.5 million in capital to this $30+  million rehabilitation project. Construction on the assisted living component is now complete and the facility is open, while the independent living apartments will begin construction within the coming months. This development is expected to create over 200 new jobs in the Calhoun County region.

Red Leaf Development, an AII Funds company, is overseeing day-to-day operations on behalf of EB-5 partnership. This involves not only managing the Project's planning and eventual construction, but also organizing the non-EB-5 funding, including traditional construction debt as well as the syndication of federal and state historic tax credits. As of December 2015, across all its projects, AII Funds had raised $259 million for 30 Projects making use of EB-5 funding to round out their capital needs. More information at www.aiifunds.com.

Mississippi Development Regional Center is sponsoring the ASHD, LP project's participation in the regional center program, and this is the regional center's fifth different project to see I-526 cases approved. The regional center is among the country's most active regional centers, sponsoring projects involving over $350 million in total development costs, including $73.5 million of EB-5 already raised.