EB-5 Atlantic Yards Brochure, U.S. Immigration Fund, January 2014

8/13/2019 EB-5 Atlantic Yards Brochure, U.S. Immigration Fund, January 2014

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WHEN DREAMSARE PUT INTO MOTION.

LEGENDARY HEIGHTSARE ONLY REACHED...


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Through imagination, innovation

and endurance, teams of

visionaries have built a world

of monuments, created generations

of memories and reawakened entire

cities. Resting along the Left Bank

of New York City is a borough

in renaissance. A new Brooklyn is

being built by visionaries, planners

and builders - and the opportunity to

be part of its growth is waiting.


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BROOKLYN, NYThe 4th largest Cityin the United Sates/12 of the top 20 most livable neighborhoods

in New York City are in Brooklyn (New York Magazine) /Downtown Brooklyn is the 3rd largestbusiness

district in New York City /Most populated of New York Citys five boroughs /Home to 30 colleges and

universities/15 million touristsvisit Brooklyn annually /Incredible major transportation networks with

18 subway linesand over 100 bus routesand Barclays Center Arena the top grossing venue in the

UShome to the Brooklyn Netsand future home to NHLs NY Islanders

HUGHL.

CAREYTUNNEL

BATTERY PARK

BROOKLYN

BRIDGE

MANHATTA

N

BRIDGE

WILLIAMSBURGBRIDGE

GOVENORS ISLAND

NATIONAL MONUMENT

BROOKLYN

BRIDGE PARK

FORT

GREENE

COFFEY

PARK

VINEGAR

HILL BROOKLYN

NAVY YARD

PROSPECT

PARK

EASTRIVER

HUDSONRIVER

HIGHWAYS

STREETS

SUBWAYS

N

THIR

DAVE

.

FOURTH

AVE

.

W A S H I N G T O N

A V E .

C

A R L T O N A V E .

FULTONST.

ALTANTICAVE.

FLATB

USHAVE.

BROOKLYN-QUEENS EXPY.

BROOKLYN

-QUEENS

EXPY

.

BROOKLYN

HEIGHTS DOWNTOWNBROOKLYN

CARROLL

GARDENS

PROSPECT

HEIGHTS

BOERUM

HILL

COBBLE

HILL

RED

HOOK

DOWNTOWN

MANHATTAN

BARCLAYS

CENTER

BROOKLYN

MUSEUM

BROOKLYN

BOTANIC

GARDEN

BROOKLYN

CENTRAL

LIBRARY

ATLANTIC YARDS


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BROOKLYN

Average household income reaches

$93,269; 89% higher than New York

City and 82% higher than the

national average

A meager 8,000 rental units have

been built in Brooklyn over the last

decade, compared to 39,000 in

Manhattan

Approximately 2.5 million residents

call Brooklyn home, compared to

1.6 million in Manhattan

Brooklyn receives as many

visitors per year as San Francisco,

California, yet holds one-tenththe number of hotel rooms

Brooklyn is significantly under

-retailed with 23 square feet per

capita, versus the US average of

55 square feet per capita

BROOKLYN, NY

The 4th largest Cityin the United Sates/12 of the top 20 most livable neighborhoods

in New York City are in Brooklyn (New York Magazine) /Downtown Brooklyn is the 3rd largestbusiness

districtin New York City /Most populated of New York Citys five boroughs /Home to 30 colleges and

universities/15 million touristsvisit Brooklyn annually /Incredible major transportation networks with

18 subway linesand over 100 bus routesand Barclays Center Arena the top grossing venue in theUShome to the Brooklyn Netsand future home to NHLs NY Islanders


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ATLANTIC YARDS OVERVIEW

The Atlantic Yards Land Use Improvement and Civic Project (the

Atlantic Yards Project) is one of the most important public/private

development initiatives underway in New York City today and one of

the largest job-creating projects in Brooklyns history.

Atlantic Yards surpasses Hudson Yards in Manhattan with its entertainment

focus, transportation connectivity and the mature and dynamic residential

market surrounding it. This once in a generation landmark project will

transform downtown Brooklyn and represents a social, cultural and

commercial focal point of New York City. The 7-block, 22-acre, 7.8 million

square foot mixed-use project is the vision of the State of New York, the City

of New York, and Forest City Enterprises, Inc. (Forest City Enterprises),

one of the largest publicly traded real estate firms in the United States.

The development is on land owned by the Empire State Development

Corporation (ESDC), the economic development agency of the State of

New York, and has been master planned by the world-renowned architect,

Frank Gehry. Each of the public agencies and Forest City Enterprises has

already invested significant capital into the Atlantic Yards Project.

This is a historic project that will continue

to energize the borough of Brooklyn. While a

new hometown team will give all of us something to

cheer for, its the jobs and housing that will have the

greatest lasting impact on the borough and the people

of Brooklyn. The Atlantic Yards development is not

just about constructing buildings. Its about building a

stronger future for this great City and State.

- New York City Mayor Michael Bloomberg


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BROOKLYN

MANHATTAN

STATEN ISLAND

QUEENS

THE BRONXRENTALAVERAGES

*

3 Bedroom $7,963

3 Bedroom $6,199

2 Bedroom $6,162

2 Bedroom $5,203

1 Bedroom $4,050

1 Bedroom $3,189

Studio $2,849

Studio $2,600

* Nancy Packes 2013 Midyear

Tri-boro Rental Report.

Rents are projected to increase into

the foreseeable future and the

current discount compared

t o Manhattan will

logically tighten over

the next 5 years.

AREA

Chicago2,851,000

Dallas1,300,000

San Diego1,306,000

San Antonio1,374,000

Philadelphia1,547,000

Brooklyn2,500,000

Houston2,261,000

Phoenix1,594,000

Los Angeles3,832,000

USALARGEST CITY POPULATIONSIN COMPARISON TO BROOKLYNNew York City, NY

Los Angeles, CA

Chicago, IL

Brooklyn, NYC

Houston, TX

Phoenix, AZ

Philadelphia, PA

San Antonio, TX

San Diego, CA

Dallas, TX

New York City8,392,000

Population: 2,500,000

Population: 2,237,000

Population:1,586,000

Population: 469,000

Population: 1,385,000This is a historic project that will continueto energize the borough of Brooklyn. While a

new hometown team will give all of us something to

cheer for, its the jobs and housing that will have the

greatest lasting impact on the borough and the people

of Brooklyn. The Atlantic Yards development is not

just about constructing buildings. Its about building a

stronger future for this great City and State.

-NewYork City Mayor Michael Bloomberg


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The world-class architecture of the new

Barclays Centerarena is thecenterpiece for the development

Largest remaining assemblage of land zoned for

high-rise development in New York City

7.8million square feet of mixed-use, mixed-in-come, LEED certified developments

6,430 residential units

627,000square feet of office space

248,000square feet of retail space

3,670 below grade parking spaces

8acres of park

New Long Island Railroad Yard

MTA Transit improvements

Benefit of 421-a real estate tax exemptions for

residential buildings

EB-5 financing already in place from Phase I

I-526 Approvals received for Phase I adjuciated

investors

I-829 Approvals to be received for Phase I

investors in 2014

Governments of both the City and State of New York have been integrally

involved in the Project since conception and through implementation of the

beginning phases. The Project has been jointly subsidized and approved

by ESDC and the City of New York, while the Metropolitan TransportationAuthority (MTA), the government entity managing all trains and subways in

New York City and its environs, is involved and maintains certain supervisory

control over the improvements to the rail yard and transit entrance which

are part of the Project. In late 2009, the State created a local development

corporation to issue $511 million in tax-exempt bonds to partially finance

construction of the Arena and surrounding infrastructure work.

Most recent developments include the partnership being established

between Chinese developer Greenland Holdings Group and Forest City

Ratner Companies. Greenland has signed a memorandum of understanding

with Forest City Ratner Companies to purchase a 70% interest in the

undeveloped portion of the Atlantic Yards project and partner with FCR

in co-developing this transformational project. Zhang Yuliang, chairman of

Greenland Holding Group, the Chinese investment group that is taking a

70 percent stake in Forest City Ratners Atlantic Yards development, has

laid out a very ambitious timeline to finish construction. Zhang says, We

have development funds, development expertise and experience and an

enormous customer base. Greenlands investment constitutes the largest

ever investment for a Chinese developer in the United States.

OVERVIEW


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FOREST CITY ENTERPRISES

Forest City Enterprises, Inc., is an NYSE-listed national real estate

company with $9.3 Billion in total assets (as of 10/31/2013). The

Company is principally engaged in the development, ownership,

management and acquisition of commercial and residential real

estate and land throughout the United States. Founded in 1920

and based in Cleveland, Ohio, Forest Citys diverse portfolio

includes hundreds of premier properties located throughout the

United States. They are especially active in their core markets

New York, Washington, D.C., San Francisco, Boston, Dallas, LosAngeles and Denver where they have overcome high barriers to

entry and developed a unique franchise.

GREENLAND HOLDINGS GROUP(PENDING PARTNERSHIP)

Established in 1992, Greenland Holdings Group is the largest

state-owned enterprise in Shanghai and a top ranked firm

worldwide, recognized by Fortune Global 500 and Top 500 China.

Firmly rooted in its development principle of constructing and

enjoying a harmonious Greenland together, Greenland Holdings

has developed a portfolio that spans more than 65 cities in 24

provinces of China. Greenland expects to enter the Fortune 200 list

by 2015, with an expected revenue in excess of 500 billion RMB

($82.3 billion USD).

EMPIRE STATE DEVELOPMENT (ESD)

ESD is the umbrella organization for New Yorks two principal

economic development-financing entities: the New York State Urban

Development Corporation and the Job Development Authority. It is

a public authority of the state of New York in the United States

that has financed and operated several ambitious state projects by

issuing tax-exempt bonds.

METROPOLITAN TRANSPORTATION AUTHORITY(MTA)

The Metropolitan Transportation Authority is North Americas largest

transportation network, serving a population of 15.1 million people

in the 5,000-square-mile area fanning from New York City through

Long Island, New York State and Connecticut. MTA subways, buses

and railroads carry more than 280 million vehicles a year and

provide 2.62 billion trips per year to New Yorkers.

PROJECT PARTIES


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Forest City Ratner Companies, the New York

business unit of Forest City Enterprises, has

been the most prolific ground-up developer

in New York City for the past 24 years. The firm

has completed more than 40 development projects

in the NYC metropolitan area, which comprise of

approximately 14.2 million square feet.

Forest City Ratner previously utilized EB-5 capital

to complete Phase 1 of the Atlantic Yards project. All

adjudicated investors have received I-526 approval.

DEVELOPED BYFOREST CITY RATNER

COMPANIES


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NEW YORK TIMES TOWERDKLB BKLNNEW YORK BY GEHRY ATLANTIC TERMINALMETROTECH CENTER BARCLAYS CENTER ARENA ATLANTIC CENTER 42ND STREET RETAIL & ENTERTAINMENT COMPLEX

Forest City Ratner Companies, the New York

business unit of Forest City Enterprises, has

been the most prolific ground-up developer

in New York City for the past 24 years. The firm

has completed more than 40 development projects

in the NYC metropolitan area, which comprise of

approximately 14.2 million square feet.

Forest City Ratner previously utilized EB-5 capital

to complete Phase 1 of the Atlantic Yards project. All

adjudicated investors have received I-526 approval.

DEVELOPED BYFOREST CITY RATNERCOMPANIES


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INVESTING IN STABILITY

DEVELOPERSCAPITAL

$463 million

SENIORLOAN

$502 million

EB-5LOAN

$249 million

GOVT TAXCREDITS

$20.6 million

TOTAL BUDGETEDCOSTS

$1.235 billion+ + + =

EXIT STRATEGY

Forest City Ratner Companies anticipates that upon completion and

stabilization of the project, the residential components will generate

substantial cash flow from sales activities and rental income, which

will allow them to successfully refinance and repay the senior and EB-5 loan.

These projections are based upon the Developers many years of experience

with similar projects developed, managed and owned.

Atlantic Yards is a transformational project located on one of the largest

remaining assemblages of property in the worlds hottest real estate market.

The US Immigration Fund believes the level of expertise behind this project

should give a great deal of confidence to EB-5 investors when evaluating their

investment opportunity.


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JOB CREATIONAs with all projects offered by the US Immigration Fund, the job

creation methodology utilized is simple and clear. Atlantic Yards

is being developed in partnership with one of the largest real

estate moguls in America, a China state-owned enterprise as

major shareholder, New York City & State Government, as well

as major international financial institutions willing to invest a

significant amount of money into the project. USIF believes this

development experience coupled with Forest City Ratner Companies

understanding and experience with the EB-5 Program translates to

the highest level of security that the project will be built and will

result in an abundance of jobs created.

RIMS II Econometric Study completed by Dr. MichaelEvans utilizes the number of jobs created by construc-

tion spending only;

The most conservative methodology accepted by

USCIS. An EB-5 petition has never been denied due to

eligible construction spending;

The construction cost data from the RIMS II Econometric

Study is consistent with the developers budget and

the legal documents;

According to USCIS EB-5 Program requirements each

investor is required to create 10 jobs, thus 4,980 jobs

must be created in order for all investors to receive

their permanent green cards. Atlantic Yards is esti-

mated to create a total of 9,739 jobs, which exceeds

USCIS requirements by approximately 95.6% equating

to more than 19.6 jobs per investor.


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INVESTING WITHUS IMMIGRATION FUND 10 PROJECTS

3,500 LIVES CHANGED

2.2 BILLION DOLLARS OF DEVELOPMENT

17,000 JOBS TO BE CREATED646 MILLION DOLLARS OF EB-5 FUNDS

While many Regional Centers and projects struggled during previous years, USIF Regional Centers received 100% I-526 approval, with some

approvals received in as little as 14 days! Through our efforts major real estate developments are currently being funded, under construction and

estimated to create several thousand much-needed jobs. USIF is on track to fund an additional 10 projects in 2014 totaling more than $1 billion

dollars of EB-5 funding, $7 billion in development and more than 30,000 new jobs throughout Florida, New York and New Jersey.

investment contactAY2EB5.com | USIFund.com | [email protected] | tel 001 561-799-1883 | tel 001 855-EB5-USIF | fax 001 561-799-0061


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The economic development opportunities here are undeniable.

The opportunities afforded through this state-of-

the-art arena and the Atlantic Yards Development

mean new jobs, affordable housing, and ongoing economic

growth. This is a boom for Brooklyn and for all New York

and we welcome the progress to come.

- FormerNew York State Governor David Paterson

- FormerNew York State Governor David Paterson

Brooklyn has finally come out of its shell and there is no doubt that Atlantic

Yards and Barclays Center have served as the catalyst for this renaissance.

The perfect complement to our new world class arena will be the housing and jobs

that will help the average New Yorker.- New York City Mayor Michael Bloomberg

What began for me as a dream of bringing a major league sports team

back to Brooklyn for the first time since our beloved Brooklyn [Dodgers]

skipped town when I was just a boy, has culminated with this groundbreaking

on something even I couldnt have envisioned an Atlantic Yards complex that

will bring the innovative Barclays Center, affordable housing, union jobs, and

permanent employment opportunities to our nations fourth largest city.

Brooklyn Borough President Marty Markowitz

Atlantic Yards is about more than Brooklyn and New

York. As important as this development is for the city, it

is about how we build sustainable, well-designed housing to meet

the needs of diverse groups of people.

- Zhang Yuliang, Chairman of Greenland Holdings Group


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U.S. IMMIGRATION FUND


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Documents

EB-5 Atlantic Yards Brochure, U.S. Immigration Fund, January 2014