WTC President: EB-5 Capital "Key" to Raising $500M for Final World Trade Tower
Like a series of big developments countrywide, Silverstein Properties is looking to raise $500M in Chinese EB-5 funds to complete the 1,270-foot-tall 2 World Trade Center.
The EB-5 program grants green cards to foreign nationals who invest $500k and create 10 jobs for US citizens, a program dominated by Chinese investors.
"EB-5 funding will be a difference-maker in terms of our ability to finance and build 2 World Trade Center," World Trade Center Properties (a Silverstein Properties affiliate) president Janno Lieber says.
Without tax-free Liberty Bonds, which helped fund the first four WTC towers, "EB-5 is key to completing the rebuilding."
Though EB-5-funded projects have been met with some criticism, Janno says the new office towers create jobs for residents throughout the region across income levels.
