Moinian Group on November 3rd, 2017 broke ground on a 53-story tower, 3 Hudson Boulevard, in the burgeoning Hudson Yards district that is rapidly changing New York’s skyline in a more than $2 billion project the developer hopes to help finance through the EB-5 visa program.
Moinian is seeking $250 million to $500 million in investment through the EB-5 program that provides immigrants with permanent U.S. residency in exchange for a minimum investment of generally $1 million, Moinian said at a ground-breaking ceremony.
The $600 million platform over the rail yards at Hudson Yards, which gives the massive development its name, was built in part through EB-5 investment. “I believe this is going to be the hottest development in the city by far,” said New York Governor Andrew Cuomo at the ceremony. “The future is going to happen here.”