HOME > News > Here

Market Square EB-5 Project Gets Its First I-829 ApprovalSeptember 28, 2020


CMB Group 43: 360 Market Square achieves its first I-829 approval!


CMB Regional Centers continues to receive more good news in the month of September as CMB Group 43: 360 Market Square achieved its first I-829 approval! We’re always excited for our investors’ success at the I-829 stage of the EB-5 Investor Visa process, where our investors realize their American dream and achieve permanent residency in the United States.

The 360 Market Square project is located 3 blocks west of Monument Circle in downtown Indianapolis, Indiana on the site of the former Market Square Arena, home to the NBA professional basketball team Indiana Pacers from 1974 to 2001. The project utilized $28.5 Million in EB-5 funding from CMB Group 43 to construct a 27 story mixed use development including retail space, a parking structure, and approximately 300 luxury rental units. Group 43 was CMB’s first EB-5 project in the state of Indiana. Our project development team first identified the 360 Market Square project as a promising EB-5 job creating opportunity back in 2014. After CMB’s project development team conducted an extensive underwriting process, Group 43 officially opened to potential EB-5 prospects in early 2015, and was fully subscribed by the end of that year. The CMB Group 43 partnership includes investors from 11 different countries.

As confirmed by the I-829 approval, the 360 Market Square development resulted in the creation of at least 882 new American jobs generated as a result of the qualifying capital spent during the construction of this project. CMB’s job creation methodology relies solely on model derived jobs that are created through capital expenditure during construction. Since Group 43 consists of 57 immigrant investors, this resulted in 15.5 jobs per investor, far exceeding the EB-5 requirement of 10 jobs to qualify for permanent residency.

This first I-829 petition approval represents a full-circle immigration process for our limited partners. Now that the USCIS has approved the first Group 43 I-829 petition, confirming the job creation requirement for all EB-5 investors in the CMB Group 43 partnership was met, we expect to see more approvals in the near future.

This is the 25th CMB EB-5 partnership to achieve I-829 approval. To date, over 5,800 immigrant investors from 102 countries have trusted CMB with their EB-5 pursuit. If you would like more information on the EB-5 program or CMB’s current investment opportunities, please contact us here to schedule an initial phone call.

.
Share This Post: Twitter | LinkedIn | Facebook

Subscribe to CMB Regional Centers Newsletter to be notified about EB-5 News and future updates from CMB.


Recent Posts

EB-5 Filing Fees Set to Increase

Yesterday (January 31, 2024), the U.S. Citizenship and Immigration Services a...

Group 78 EB-5 Investor Receives I-526E Approval

-- Great news, an investor in CMB Infrastructure Investment Group 78, LP 78)...

CMB Group 82 Receives I-956F Approval!

This week, we learned that CMB Infrastructure Investment Group 82 received an...

Popular Posts

EB-5 Filing Fees Set to Increase

Yesterday (January 31, 2024), the U.S. Citizenship and Immigration Services a...

USCIS proposes substantial increases to the EB-5 Investor filing fees

- On Jan. 4, the Department of Homeland Security published notice in the...

Group 78 EB-5 Investor Receives I-526E Approval

-- Great news, an investor in CMB Infrastructure Investment Group 78, LP is...

Headquarters
5910 N Central Expy, Suite 1000
Dallas, Texas 75206
Regional Office
7819 42 Street West
Rock Island, Illinois USA 61201
Contact Us
+1 309-797-1550
CMB believes that this website is accessible to the widest possible audience pursuant to the guidelines of the Americans with Disabilities Act. Click here for more information.
This is not an offer to sell securities or the solicitation of an offer to purchase securities. Any offer to participate in any sponsored project may only be made pursuant to a written offering memorandum. Any sale in a sponsored project shall be evidenced by a subscription agreement executed by a foreign national and will be offered and sold, to the extent applicable, both within and outside of the United States in reliance on exemptions from registration under the securities act, state laws and the laws of jurisdictions where the offering will be made.