Report: 1 Light St Developer Seeking Foreign Investment In China
The developer of 1 Light St is seeking foreign investment in China with the help of the Baltimore City mayor's office.
Baltimore City deputy mayor Colin Tarbert is seeking foreign companies that wish to fund the office and residential tower under the EB-5 program, the Baltimore Business Journal reports. DC developer Madison Marquette is footing the bill for the trip, which will highlight Baltimore's tax credits and other policies that encourage business growth, the BBJ reports, citing documents from the city's Board of Estimates. Madison Marquette did not return requests for comment.
The EB-5 program allows foreign entrepreneurs to apply for a green card if they invest in a commercial enterprise and preserve or create 10 full-time jobs for US workers. We'll probably hear more about this project at Bisnow's Future of Downtown Baltimore event Dec. 13. [BBJ]