#Civitas Capital #EB-5 Investors #San Diego Project

Civitas Capital Group Celebrates I-526E Approval

Civitas Capital Group, a prominent operator in the EB-5 regional center arena, has recently secured a remarkable achievement with the approval of an I-526E petition from the U.S. Citizenship and Immigration Services (USCIS). This approval, granted for a multifamily project located in the North Park area of San Diego, California, marks a significant milestone in the company's ongoing commitment to supporting economic development in high-unemployment areas (HUA).

Project Overview

The approved project in San Diego is particularly noteworthy as it is categorized as a high-unemployment area, a designation that typically complicates and lengthens the approval process. Commonly, approvals for HUA I-526E petitions can stretch from 18 to 24 months; however, Civitas’ investor received their approval in under nine months. This expedited process showcases not only the viability of the North Park project but also Civitas's effective management practices and strong connections with USCIS.

Jeff Kiser, the Director and Head of EB-5 Investor Relations at Civitas, expressed his enthusiasm about the news. "We are thrilled for the investors in this project. This was an equity offering that presented a distinctive opportunity, and receiving notice of our EB-5 investor's USCIS approval has filled us with excitement. We were also pleased that this announcement followed closely on the heels of our I-956F approval from USCIS for the project."

Moreover, it has been noted that all EB-5 investor positions for this project have been filled, demonstrating strong interest among investors in this multifamily development.

Benefits for the Community

The North Park project promises to deliver 76 residential units, including eight rent-restricted units designed to cater to the community’s needs. As Jorge Adler, Director of Investments for Civitas and the project lead, pointed out, the development will play a crucial role in addressing the housing crisis in the area. "This project is expected to create over 220 jobs, which will greatly benefit both the local community and our EB-5 investors."

Situated in a highly sought-after location, the North Park neighborhood is rich in cultural attractions, historic sites, diverse dining options, and vibrant nightlife. Furthermore, its proximity to downtown San Diego and various employment centers adds to its appeal, making it a desirable area for potential residents.

Civitas Capital Group's Commitment

Since its establishment in 2009, Civitas Capital Group has demonstrated a robust commitment to the real estate sector, accumulating a portfolio of over 50 properties with a commendable 100% USCIS approval rate. The firm’s strategic focus on projects that integrate both social responsibility and profitability highlights their ethical stance in the investment community. Civitas emphasizes a dedication to