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$60 Million EB-5 Financing from CanAm Helps to Construct the Tallest Office Tower in Downtown Brooklyn

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CanAm's One Willoughby Square EB-5 project has funded. Some investors' I-526 petitions were adjudicated as short as 10 months.

NEW YORK (PRWEB) July 25, 2018

CanAm Enterprises ("CanAm") is pleased to announce that its $60 million EB-5 loan to construct a ground-up office tower in downtown Brooklyn, named One Willoughby Square, has closed and funded. Developed by JEMB Realty and designed by the renowned architectural firm FXCollaborative, One Willoughby Square offers 500,000 square feet of new Class A office space and approximately 20,000 square feet of prime retail space in the heart of Fulton Mall, Brooklyn's most popular and successful retail sector. Upon completion, this 34-story office tower will become the tallest office building in downtown Brooklyn.

One Willoughby Square's preleasing activities have been booming. In 2017, the New York City School Construction Authority executed a 30-year lease to occupy 20 percent of the total office space. In addition, FXCollaborative has leased floors seven through nine and will relocate their headquarters from Manhattan to Brooklyn. Moreover, the New York City Economic Development Corporation is constructing a one-acre park adjacent to One Willoughby Square that will be a street-level public space that sits atop an underground parking garage to provide ample parking and much-needed green space for employees and residences in the area.

JEMB Realty continues to make significant progress to ensure the successful completion of the One Willoughby Square Project. As of June 2018, excavation and foundation work is ongoing and will continue for the next six months.

As a qualifying EB-5 project, the One Willoughby Square project received an I-924 exemplar approval from USCIS on January 2, 2018. Based on the expenditure model approved by USCIS, 2,464 qualifying jobs will add to the continuing development of the Brooklyn region. In addition, investors in One Willoughby Square have been receiving I-526 petition approvals since January 2018. The shortest adjudication time took less than 10 months!

For more information about JEMB's One Willoughby Square, please visit the website at http://www.1wsq.com/ or contact Jacob Jerome at jacobjerome@jembrealty.com

About CanAm Enterprises
With three decades of experience promoting immigration-linked investments in the United States and Canada, CanAm has a long and established track record. Based on a reputation of credibility and trust, CanAm has financed 53 project loans and raised more than $2.6 billion in EB-5 investments. CanAm exclusively operates several USCIS-designated regional centers that are located in the city of Philadelphia, the Commonwealth of Pennsylvania, the county of Los Angeles, the metropolitan region of New York, the state of Hawaii, Florida and Texas.

For more information, please visit http:http://www.canamenterprises.com

About EB-5 Visa Program
Administered by the United States Citizenship and Immigration Services (USCIS), the EB-5 Immigrant Investor Program (EB-5) provides opportunities for qualified foreign nationals to achieve permanent legal residency in the United States through an investment in a USCIS-approved project that will generate at least 10 full-time jobs in the U.S.

For the original version on PRWeb visit: https://www.prweb.com/releases/60_million_eb_5_financing_from_canam_helps_to_construct_the_tallest_office_tower_in_downtown_brooklyn/prweb15637522.htm

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