Hudson Yards EB-5 payments stalled by pandemic; unclear if Atlantic Yards investors face same issue, though real estate projects "suffering"

Related halts payments to Hudson Yards EB-5 investors, The Real Deal reported 6/10/20:

Related Companies, one of the EB-5 program’s biggest proponents, is halting payments to such investors in Hudson Yards because of volatility caused by the pandemic. 

In a letter sent last week, a copy of which was reviewed by The Real Deal, Related told EB-5 investors the project was facing a host of challenges, including delays and increased costs around the platform work at the site, as well as “extremely challenging conditions” in the residential condo market and the bankruptcy of its mall anchor tenant, Neiman Marcus.

It's unclear whether EB-5 investors--who get green cards for themselves and their families in exchange for a purportedly job-creating investment--in Atlantic Yards face the same issue. There were three rounds of fundraising, and the first round of $228 million was repaid, leaving $349 million to be repaid.

The payment schedule remains unclear; with many EB-5 investments, the only required payments are very modest interest, until the term of the low-cost loan is reached.

However, in general EB-5 projects related to real estate are "suffering," EB-5 legal specialist Mona Shah--who's not involved in the Hudson Yards project--told the Real Deal.