Civitas Capital Group, a Dallas-based alternative investment manager offering niche opportunities in U.S. real estate, today announced that its North Park project in San Diego, California, has received approval for Form I-956F, Application for Approval of an Investment in a Commercial Enterprise, from the United States Citizenship and Immigration Services (USCIS).
This is an important milestone for the project, as an approved Form I-956F is a vital first step to the approval of each EB-5 investor’s I-526E petition.
“We are thrilled for the investors in this project,” says Jeff Kiser, Director and Head of EB-5 Investor Relations for Civitas. “This was an equity offering that presented a distinctive opportunity for investors, and we are ecstatic to receive notice of our USCIS approval.” Kiser noted that all EB-5 investor positions for the project have been filled.
“We are very excited about the double bottom-line approach of this project,” says Jorge Adler, Director of Investments for Civitas and the lead on the project. “The development will provide 76 units, including eight rent-restricted units, to a highly supply-constrained market and is projected to create over 220 jobs that will benefit both the local community and our EB-5 investors.”
The project is in the Balboa Park submarket of San Diego, showcasing a unique blend of historic character, diverse shops, renowned restaurants, vibrant nightlife, museums, and cultural landmarks such as the San Diego Zoo. The neighborhood also provides excellent access to downtown and many of San Diego’s key employment centers, making it one of the city’s most desirable places to live.
ABOUT CIVITAS CAPITAL GROUP
Civitas Capital Group is a nimble alternative investment manager offering compelling, niche opportunities in U.S. real estate. Civitas exists to create opportunities that enrich our communities, investors, and employees alike. Driven by relentless creativity, Civitas digs deeper to uncover opportunities that others miss. Follow Civitas Capital Group on LinkedIn. Learn more at civitascapital.com.
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