Sunday, June 17, 2012

Under the radar: EB-5 heavy-hitters appear at conference in Brooklyn

From the EB-5 News blog, Brooklyn real estate conference explores EB-5 program:
Photo via EB-5 News Blog
The 3rd Annual Brooklyn Real Estate Summit hosted by TERRACRG was held at St. Francis College in downtown Brooklyn, New York June 14, 2012. [Blog operator] Mr. Brian Su was invited to join the "Foreign Investors: attracting foreign investment capital to Brooklyn projects" panel discussion. The discussion panelists include Mr. George Olsen (Managing Principal) of New York City Regional Center, Ms. Julia Yong-Hee Park (Principal Attorney) of Law Offices of Julia Park, Mr. Brian Su (CEO) of Artisan Business Group, Inc., and Mr. Paul Travis (Managing Partner) of Washington Square Partners. The forum was moderated by Mr. Steven Polivy (Chairman - Economic Development & Incentives Practice) of Akerman Senterfitt. The New York City Regional Center has attracted over $800 million EB-5 funds to development projects in Brooklyn and New York city areas. Chinese and Asian investors have always shown interests in EB-5 project in New York city. For more information about EB-5 regional center investment program, please contact us today.
Note the presence of George Olsen of the New York City Regional Center, who otherwise has been unavailable to the press. Remember that coverage last December in the New York Times of gerrymandering so-called Targeted Employment Areas to ensure they had high-unemployment rates:
The consultants arranging the EB-5 financing for the Battery Maritime and Atlantic Yards projects declined to comment.
If the NYCRC has raised more than $800 million in EB-5 funds, that's an enormous number, because little more than a quarter of it is for Atlantic Yards. The entity claims 800 approval letters for investors, which means $400 million from them.

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