ARCFE GROUP 9
ARCFE Group 9 LLC was formed on August 9th, 2016 for the purpose of raising up to $15 million investment capital to a project permitted under the EB-5 Immigration Investor Program. The capital shall be advanced in two parts: 1. A loan of $5 million to Jackson Hunter LLC (Project A) toward the construction of its 8-story residential rental building with 15 units and located at 42-83 Hunter Street, LIC, NY 11101; 2. Preferred Equity Investment of $10 million to 27 Street LLC (Project B, together with Project A, the Projects). The loan is secured by the first mortgage on the Project A and developers’ personal guaranty. The excavation of both buildings started in June 2015 and construction is expected to be completed in March 2018.
The Project A and Project B are being developed by the Lions Group. Mr. Albert Shirian and Ramin Shirian founded the Lions Group in 1984. Since then, they have been actively involving in real estate investment and development on Long Island and New York City. They have built luxury and/or high quality large suburban homes in prestigious areas in North Shore of Long Island, as well as 1-4 family, multi-family, luxury condominiums projects in different parts of Queens, especially Long Island City, and Nassau County. The project will be developed in cooperation with the following professionals:
MY Architect PC and Raymond Chan Architect
The Lions Group employs a team of talented and experienced professionals who will support both Projects. MY Architect PC is the architecture agency to provide architectural and engineering designs for Hunter Street Project (Project A). The Architect, Raymond Chan Architect, and its in-house team are hired to provide architectural and engineering designs for 27th Street Project (Project B). Given the prime location of the development sites and strong demand for residential spaces in Long Island City, the two developments will be deemed successful upon completion.
- General Contractor
The lions Group II LLC
Founded by Albert Shirian and Ramin Shirian in 2005, the lions Group II LLC is the construction arm of the Lions Group for development of Project A and Project B and is supported by in-house professional teams of Lions Group.
|Developer investment||$27,500,000 (41%)|
|EB-5 capital||$15,000,000 (22%)|
|Total project investment||$67,600,000(100%)|
Jobs will be created during the construction process and as a result of the on-going operations of property management and maintenance afterwards. Economic analysis by Economist Michael Kester calculates that a total of 467.2 jobs will be created—402.1 jobs will be created from hard construction cost and architect engineering services, and 65.1 jobs from projects’ on-going operations (leasing, management, and maintenance). This translates into over 15.56 jobs per EB-5 investor.