This offering intends to raise US$6.5 million to be loaned to support the construction of a 126 unit nursing home located in the geographic area covered by Michigan-Indiana EB5 Regional Center Inc. (MIRC) approved by USCIS on July 30, 2013. It is also located in a targeted employment area that qualifies for the US$500,000 investment level of the EB5 program. The EB5 Loan amount is US$6.5 million from 13 investors
The purpose of the Project is to develop, construct, and thereafter manage a 122,120 square foot, 126-unit, 126-bed, independent living facility (NAICS 6233) located in Orion Township, Michigan
The proposed development includes the construction of a 2-story building designed to provide independent living with assistance available. Although an enhanced level of care referred to as “assisted living” will be available to residents through third party providers, the facility itself will not operate as a state-licensed assisted living facility. The construction of this type of facility is typically classified as Class D, which includes a light wood or metal frame with brick veneer and vinyl siding. All units are accessed from interior common hallways. These residences are typically occupied on an individual basis; however dual-occupancy is permitted at an additional fee. The apartments are situated in residential wings attached to a central building section. Most common areas for services and socialization are located in the central building section.
The Village Manor Retirement of Lake Orion Project has a good location and accessibility. The subject is proximate to medical facilities and transportation corridors, as well as churches, schools, shopping, banks, and restaurants, which are minutes away. The neighborhood is in the stability stage of the neighborhood cycle with moderate to good growth in property values into the foreseeable future.
Benefits and Requirements to apply US EB-5