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A Bjarke Ingels Group-designed skyscraper proposed for New York City has been granted application approval under the EB-5 Program by United States Citizenship Immigration Services. Developed by HFZ Capital Group, 29th and 5th will soar above the busy streets of Manhattan with a LEED certified design.
The Class A+ office tower has been designed with smaller 13,400-square-foot floor plates and a surfeit of amenities promoting employee wellness and sustainability in the workplace. Community workspaces and fitness options are being provided to promote a healthy work environment. Each floor will also benefit from outdoor spaces attached to the eastern elevation of the building.
Located in Manhattan's sought-after NoMad neighbourhood, the project's current timeline puts completion at early 2022. The demolition of the core build area has finished, with construction in the next few months to focus on boring for foundation design.
The project is one of multiple highrise developments across the country being executed through the EB-5 Program, which provides foreign investors the opportunity to obtain permanent U.S. residency. The federal government allocates 10,000 visas annually to foreign investors who partake in the program.
"We are pleased to receive I-924 approval for our 29th and 5th EB-5 project," said Nicholas A. Mastroianni, III, President of U.S. Immigration Fund. "I-924 approval provides our investors with predictability of project success and we want to additionally congratulate all investors involved in the 29th and 5th project. We work with potential investors individually to ensure we are effectively aligning projects with investment goals."
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