Seattle Stazione25 EB-5 Progress Report - Q4 2020
Construction on the 301 unit apartment building Stazione25 was officially completed in November 2020 with the issuance of the Certificate of Occupancy from the City of Seattle. The project now has created well over 500 jobs, thus providing more than enough jobs for all 27 EB-5 investors through construction activity alone. This will greatly help EB-5 green card investors to navigate the EB-5 process with one less worry. In addition to the EB-5 job creation, Stazione25 also has mitigated other EB-5 green card risks such as construction and financing. With the Certificate of Occupancy having been obtained, and financing secured to complete the project, both of these risks are very well contained. As for operations, the North Building has already leased out over 92% of available units. The South Building, having just completed construction, has started the initial lease up and is seeing strong demand. It is worth noting that 50% of all of the units leased up for the North Building were leased up AFTER the pandemic started, thus showing strong demand for these types of more affordable apartments with easy connectivity to large employers in downtown Seattle such as Amazon, Microsoft, Boeing, and more.
LEARN MORE ABOUT THE STAZIONE25 EB-5 PROJECT
Stazione25 features sleek, modern apartments with ample amenities to cater to the demand of young working professionals and students at the University of Washington. Easy connectivity to downtown Seattle, the University of Washington, SeaTac International Airport, and First Hill Medical Community via the Mount Baker Station light rail line make the location very desirable for working professionals and students. Check out the walkthrough video tour below to see what makes Stazione25 such a desirable place to live.
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What is EB-5?
The EB-5 program is the fastest and most convenient path to obtaining a United States green card for foreign investor. With an investment of only $900,000, an EB-5 investor can obtain a green card within a couple years, and then receive their $900,000 back after approximately 5 years. The core requirement of the EB-5 program is that the EB-5 investment create at least 10 direct or indirect jobs for US workers. The EB-5 program was created by the US Congress in 1990 and since then has provided a path to a green card and/or citizenship for tens of thousands of immigrant investors.