ARCFE GROUP 8
I-526 Approved, I-924 Approved, Recruiting
SC 75 Park EB-5 LLC was formed on September 11, 2015 for the purpose of raising up to $110 million investment capital to a project permitted under the EB-5 Immigration Investor Program. The loan shall be advanced in 22 incremental tranches of $5 million each to the Project Companies (the Borrowers). The borrowers directly own 75 Park Lane LLC (Project A) and 2 Shore drive North LLC (Project B) whose main purpose is to own the real estates located at 75 Park Lane, Jersey City, NJ 07310, and 2 Shore Drive North, Jersey City, NJ 07310. The development of 75 Park Lane will be a 37-store mixed-use condominium building with 359 residential units and 7,248 square feet of retail space; the development of 2 Shore Drive will be a 7-store condominium building with 71 residential units and 15,635 square feet of retail space. The development will have a gross area of approximately 615,665 square feet. The loan is secured by 100% pledge of equity on the Project Companies. The construction started in October 2016 and will be completed in May 2019.
Strategic Capital LLC is the US‐based investment platform of the world’s largest construction and real estate conglomerate CSCEC (China State Construction Engineering Corporation). Strategic Capital was created to invest in public infrastructure and private real estate opportunities by leveraging CSCEC’s capital strength and CCA’s experiences in North America. Having completed a number of transactions in recent years, the company aims to build a portfolio of $3 billion through acquisitions and development within next three years. With unparalleled experiences in construction and development coupled with strong financial strength, the company shall respond quickly to changes in the market and create value for all shareholders.
Strategic Capital will coordinate the work of the following professional partners:
- Architect Designer– Woods Bagot
Woods Bagot is a global design and consulting firm, with a team of over 1000 people working across studios in Australia, Asia, the Middle East, Europe and North America. It specializes in five key sectors – Aviation and Transport; Education, science and Health; Lifestyle; Sport; and Workplace. Woods Bagot’s diverse portfolio spans more than 140 years which builds a legacy of design excellence.
Building Design’s 2014 World Architecture 100 list ranked Woods Bagot as the seventh largest architecture firm in the world.
- General Contractor– Plaza Construction
Plaza Construction is one of the nation’s foremost construction management and general contracting firms. China State Construction Engineering Corp., China’s largest construction company, made a significant investment in Plaza Construction through its US subsidiary, China onstruction America, which offers dynamic growth opportunities, greater financial trength, increased bonding capabilities, and global procurement for our clients.
- Marketing Consultant—The Marketing Directors
The Marketing Directors is a full‐service marketing and sales/leasing company specializing in new homes and recognized as a national leader in high density residential development serving many of the industry’s most prominent developers across the United States and Canada since 1980. The company is led by founder Adrienne Albert, who was inducted into the National Sales and Marketing Council of the National Association of Home Builders (NAHB) Hall of Fame as a Legend of Residential Marketing in 2009 ‐ the first woman to be inducted into the “Hall” in its 16‐year history. The Marketing Directors presently represents condominium and rental developers in markets such as New York, New Jersey, Connecticut, Georgia, Florida, North Carolina and Toronto. It is the absolute market leader in Jersey City residential market, servicing over 80% development projects with its marketing and sales specialties.
|Developer investment||$69,396,000 (20%)|
|EB-5 capital||$110,000,000 (32%)|
|Total project investment||$345,396,000(100%)|
The Project will create a combined 2,635 direct, indirect and induced jobs, with 2,449 jobs created from hard construction costs of the two towers. The Project will also create an additional 133 jobs through architect and engineering services, purchases of FF&E, and marketing and sales commissions. Lastly, the Project will create an additional 50 jobs from the operation of the condominium. The following charts detail the distribution of jobs created by hard construction costs, soft construction costs, FF&E, and operations: