JUNE 27, 2024
American Venture Solutions Regional Center is proud to announce that on June 21, 2024, USCIS approved River Oak EB-5, making it AVSRC’s first EB-5 offering approved since the passage of EB-5 Reform and Integrity Act of 2022. River Oak’s I-956F petition (“Application for Approval for an Investment in a Commercial Enterprise”) was filed with the USCIS in March of 2023 and has been offered to accredited investors on a worldwide basis since being receipted but was pending over one year after USCIS prioritized the adjudication of “rural” petitions.
River Oak EB-5, a new-construction single family home rental community located in beautiful Martin County, Florida, is among the first TEA-certified, non-rural projects approved by USCIS since the new law took effect. Rural and TEA projects are highly coveted by EB-5 investors — especially those from high-demand countries such as China, Vietnam and India — because of the new reserve set-asides that allow investors to avoid backlog delays. River Oak’s approval represents a great investment opportunity for investors looking to partner with the only Forbes-pedigree development group involved in EB-5 and AVSRC, which has exclusively offered EB-5 projects owned and operated by that same group since its initial approval in 2012.
While USCIS’ mandate to prioritize rural projects was based on the language of the new law, the combination of huge EB-5 investor demand from backlogged countries and public notice that rural projects would be prioritized for adjudication triggered a flood of EB-5 offerings which, while qualifying as “rural” for purposes of the law, represented very high risk investments. But for investors determined to qualify under a reserve category, the potential loss of investment mattered less than jumping the queue. As a result, the EB-5 market is flooded with “rural” projects which represent risky business ventures which US investors would not touch.
River Oak EB-5 ‘s approval represents a powerful alternative to the risky rural EB-5 market. AVSRC has been delivering EB-5 approvals for over a decade with a record reflecting that 100% of AVSRC loan-based project investors have recovered all of their capital investment back in full, and on time. If you are looking for a safe, proven, TEA-reserved EB-5 opportunity, contact us today.
Attorney José E. Latour
