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September 17, 2011
Mr. Moinian goes to Beijing
Real Estate Weekly
By Roland Li
Developer Joseph Moinian is emulating Bruce Ratner as he prepares to find Chinese investors as part of the EB-5 program. This federal program is meant to create jobs, but apparently createsd no jobs when used for Atlantic Yards.
Soon, the developer will make another move to attract Chinese business. In November, Moinian will partner with Windham Realty Group and travel to China to meet with prospective buyers, eventually visiting seven cities.
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Another appeal of investing in American is a federal program called EB-5, which allows foreigners who invest at least $500,000 to gain a green card and possible foreign residence. Forest City Ratner used the program to raise $249 in Chinese loans for the Atlantic Yards project in Brooklyn.
Posted by steve at September 17, 2011 6:31 PM