Investor sues developer of stalled Brooklyn megaproject that can’t be approved by USCIS or city

EB-5 News

Date

Mar 12, 2021

Category

Legal Drama

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A Chinese EB-5 investor is suing the developer of a New York mixed-use project that was supposed to include a mall, two residential towers, one office tower, and a 150-room hotel. The investment was made in 2015 but the project has not even received city approval yet. USCIS denied the investor’s petition last September stating that the project is not likely to be fully funded and has “material shortcomings.” The developer appears to want to abandon the project and tried to sell the site in 2019. Read The Real Deal article

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