Mayor, Developers and Houston EB5 talk Local Job Creation, Investment, and Community.
On August 21, 2019 Roberto Contreras, CEO of DC Partners and Houston EB5 and Moez Mangalji, CEO of Westmont Hospitality Group welcomed Houston Mayor Sylvester Turner and City of Houston Chief Development Officer Andy Icken to The Allen to discuss the economic and community impact of the $500M-plus development along Allen Parkway.
The Allen is being developed by DC Partners, with investment from Tianqing Real Estate Development and Westmont Hospitality Group. The high-end, multi-use development includes the luxury brand Thompson Hotel, the Residences at The Allen, a lifestyle pavilion, which will include one of the nation’s most exclusive fitness clubs, two signature restaurants, luxury retail spaces, and world-class office buildings.
Derived using RIMS II Impact Model, Phase 1 of The Allen will support 1,731 new jobs and increase Houston MSA (Metropolitan Statistical Areas) Labor Income by $128.8M with regional demand for input and commodities increased $176.5M. Additionally, The Allen will bring more than $78M in foreign and direct investment to Houston.
“I appreciate Mayor Turner and Andy Icken for their continued interest and support of The Allen,” said Contreras. “The substantial investment by the City of Houston to Buffalo Bayou Park, along with the work of the Buffalo Bayou Partnership, has created an exceptional opportunity for projects like The Allen to create new jobs and reinvest in the local community. I applaud Mayor Turner and his staff for recognizing the important role the public-private sector relationship plays in improving our communities and bringing new investment to Houston.”
THE ALLEN BY THE NUMBERS
- 1,731 new jobs
- Houston MSA (Metropolitan Statistical Areas) Labor Income increased $128.8M
- Regional demand for input and commodities increased $176.5M
- $78M through foreign and direct investment in Houston
With about three months before the new EB-5 regulations kick in, prospective EB5 investors will have to expedite their investments.
From November 21st, 2019, foreign investors looking to gain permanent residency will need to shell out a minimum of $900,000 to qualify for the EB 5 visa. This is almost a 100 percent increase from $500,000, which was set earlier by the government in the 1990s.
If you want to save $400,000, we recommend you file your EB 5 petition as soon as possible.
To know more about our EB5 project, The Allen, click here!
APPLY FOR YOUR EB 5 VISA PETITION WITH HOUSTON EB5 TODAY!
Houston Mayor Sylvester Turner Visits Houston EB5’s newest EB5 project, The Allen | Houston EB5 – Houston, TX