LOS ANGELES PROPER HOTEL (JF12) PROJECT SECURES I-829 APPROVALS - EB5 CAPITAL

 

KUALA LUMPUR, June 12 (Bernama) -- EB5 Capital announced that investors in its Downtown Los Angeles Proper Hotel (JF12) project have begun receiving I-829 approvals from the United States Citizenship and Immigration Services (USCIS).

According to a statement, USCIS issues I-829 approvals, or permanent residency, to investors who have demonstrated that their EB-5 investment resulted in the creation of at least 10 full-time jobs, and also completed their two-year conditional residency period.

“An I-829 approval is a major milestone in the EB-5 immigration and investment process. It officially completes the immigration process for an EB-5 investor and confirms that a project has fulfilled all the requirements under the programme, including job creation,” said EB5 Capital Senior Vice President of Operations and Compliance, Mariana Gomez.

Proper Hotel (JF12) is a 13-storey, 148-room luxury lifestyle hotel in the heart of Downtown Los Angeles, and this historical building was initially a private club in the 1920s frequented by members of Hollywood.

The property now features three distinct food and beverage spaces operating in partnership with James Beard Foundation award winners. It also has 14,000 square feet of meeting space and a rooftop pool with unobstructed panoramic views of the city.

The hotel opened to the public in October 2021 and the redevelopment created over 1,000 EB-5 qualifying jobs, more than enough jobs to cover all the EB-5 investors who invested in the project.

-- BERNAMA