George Washington Immigration Group aims to provide between $250 million and $350 million in EB-5 financing for Moinian Group’s 3 Hudson Boulevard. The financing will be provided through George Washington Immigration Group’s regional center EB-5 investment program, which structures investments as limited partnerships.
Moinian broke ground on the $2 billion project—set to occupy the entire block between 11th Avenue and Hudson Boulevard Park from West 34th Street to West 35th Street—at the end of last year. The 53-story, 2-million-square-foot office tower is scheduled for delivery by 2021 and will be funded through a mix of debt, equity and EB-5 funding.
“George Washington Immigration Group is a first-class organization with team members who have a tremendous track record in the EB-5 industry,” Joseph Moinian, the chief executive officer of Moinian Group, said. “Construction of 3 Hudson Boulevard is already underway. We are excited to bring this elegant tower to completion, becoming a permanent fixture of the Far West Side and the New York City skyline.” When completed, 3 Hudson Boulevard will stand at over 900 feet tall and have 360-degree views of the Hudson River, Central Park and the Empire State Building.