ATLANTA, GA – Peachtree Group ("Peachtree") has received its I-956F approval from U.S. Citizenship and Immigration Services (USCIS), the government agency that oversees the EB-5 Immigrant Investor Program, for the firm’s TownePlace Suites by Marriott in Palmdale, Calif., which is currently under construction.
The I-956F approval, granted by USCIS, marks a crucial step in Peachtree’s ongoing efforts to facilitate investment opportunities through the EB-5 program, which is designed to promote economic growth and job creation in the U.S. This is the second hotel development for which Peachtree has received approval, having previously secured it for its Home2 Suites by Hilton development in Boone, N.C.
"We are excited to receive USCIS approval for our Palmdale project," said Adam Greene, EVP of EB-5 at Peachtree. "This achievement underscores our continued commitment to delivering high-quality developments that drive economic growth and create meaningful opportunities for investors and local communities alike."
The TownePlace Suites by Marriott in Palmdale is expected to be a premier extended-stay hotel, offering modern accommodations and amenities tailored to the needs of both business and leisure travelers. The hotel is slated for completion by spring 2025.
“We focus on hotel development because the sector has proven to be exceptionally resilient, offering agility and flexibility in navigating economic challenges. With limited new hotel supply and surging travel demand, new assets are positioned to outperform, especially in the post-COVID era, where strong fundamentals and market dynamics create significant opportunities. The forecast of global travel spending reaching $15.5 trillion over the next decade, outpacing inflation, further underscores the long-term potential of the hospitality industry, making it a highly attractive investment opportunity,” said Greene.
Peachtree launched its EB-5 program in 2023 as a key financing tool to support job-creating projects nationwide. The firm remains committed to delivering high-quality investment and development opportunities through its expanding portfolio of EB-5 projects.
“The TownePlace Suites development, like the Home2 Suites, includes a substantial owner equity investment. This alignment of interests with our EB-5 investors fosters a shared commitment, reinforcing confidence in the project’s success and reassuring all stakeholders," Greene added.
The EB-5 visa program allows foreign investors to obtain a green card in exchange for making a significant investment in a new commercial enterprise that creates jobs in the U.S. Under the program, foreign nationals who invest a minimum of $800,000 in a U.S.-based project that creates or preserves at least 10 full-time jobs for U.S. workers are eligible to apply for permanent residency.
About Peachtree Group
Peachtree Group is vertically integrated investment management firm specializing in identifying and capitalizing on opportunities in dislocated markets, anchored by commercial real estate. Today, the company manages billions in capital across acquisitions, development and lending, augmented by services designed to protect, support and grow its investments. For more information, visit www.peachtreegroup.com.
If you're working in the United States on an H-1B visa and seeking permanent residency, the EB-5 Immigrant Investor Program offers a promising path forward. This comprehensive guide walks you through the process of transitioning from an H-1B to an EB-5 visa, helping you understand your options to make an informed decision about your immigration journey.
The H-1B visa is a temporary, employer-sponsored visa that ties you to a specific company. You need to win a lottery to get one, and you'll face regular renewal requirements. Plus, your stay in the U.S. is always dependent on your employment status.
The EB-5 visa, on the other hand, offers a direct path to permanent residency. No employer sponsorship needed! With an EB-5 visa, you can:
Yes, while it's not exactly a "conversion," you can apply for an EB-5 visa while maintaining your H-1B status. Here are the key requirements for an EB-5 visa:
Acceptable funding sources for H-1B holders include:
The transition from H-1B to EB-5 status typically requires between 4 to 18 months, depending on USCIS processing times. Your immigration journey begins with selecting and investing in a qualified EB-5 project. Once you've made your investment, you'll submit your petition to USCIS. During this waiting period, maintaining your current H-1B status provides important immigration security.
The concurrent filing option presents an interesting opportunity for H-1B holders pursuing EB-5 visas. This process allows you to receive an Employment Authorization Document and advance parole privileges (travel authorization) immediately after filing your EB-5 petition. These benefits enable work authorization independent of your H-1B employer and facilitate international travel. However, immigration attorneys often advise maintainingH-1B status throughout the EB-5 process, as switching to concurrent filing status may prevent you from returning to H-1B status if needed.
The journey from H-1B to permanent residency through the EB-5 program represents a significant opportunity for foreign workers in the United States. While the $800,000 investment requirement is substantial, the benefits of permanent residency and workplace freedom make it an attractive option form any H-1B professionals. Consulting with qualified immigration attorneys helps ensure you understand all aspects of the process and make choices aligned with your long-term immigration goals.
Converting from an H-1B to an EB-5 visa offers a clear path to permanent residency in the United States. By understanding the requirements, timeline, and potential challenges, you can make informed decisions about your immigration future. Remember that professional legal guidance proves invaluable throughout this complex but rewarding process.
Peachtree Group has more than 40 years’ experience in EB-5 investing. Have questions about EB-5, visit our website or fill out our contact form.
Conventional wisdom states that the EB5 visa country cap is calculated within each preference category, not across all preference categories. That would mean that no one country could have more than 7% of just EB-5 visas in any reserved visa category.
Conventional EB-5 wisdom on country caps is wrong.
In a US Federal Register announcement dated March 28, 2023, the US Government acknowledged they were calculating country caps incorrectly and outlined how country caps were to be calculated moving forward.
Since April 2023, country caps are calculated based on the total number of visas available in ALL preference categories including family-based and employment-based. Immigrants from a particular county are not subject to a country cap until applications for ALL preference categories for that country reach 7%.
Once both family-based and employment-based visa applications for a particular country reach 7%, the Department of State imposes backlogs for that particular country in each preference category based on priority dates across all categories.
Investors born outside of China and India can confidently choose between either a rural or high unemployment project.
The Visa Bulletin shows China, India, Mexico, and the Philippines have all reached the 7% cap across the family-based and employment-based visas. Since Mexico and the Philippines are not big users of the EB-5 preference, China and India are currently the only countries subject to a country cap on EB-5 unreserved visas. What this means: If you were born outside of China or India, you don't need to worry about backlogs or waiting lines whether you invest in a rural or high unemployment TEA. Unless and until another country reaches the 7% quota across all preference categories, we should not expect there to be a backlog for those countries in EB-5. If you were born in China or India, you should speak with knowledgeable EB-5 professionals to understand the potential waiting periods. However, remember that your EB-5 investment decision should be based on all of the factors that are important to you, not just the potential visa quotas.
About Peachtree Group
Peachtree Group is an investment firm driving growth with a diverse portfolio of commercial real estate assets and other ventures, with a specialty in hospitality. We’ve executed hundreds of investments since inception with a focus on real estate acquisition, development, and lending. Today, we manage billions in equity, augmented by services designed to protect, support, and grow your investment.
Peachtree Group has an EB-5 visa by investment program which allows foreign nationals the opportunity to attain permanent residency in the United States. The EB-5 visa program allows you to invest in job creating projects in the U.S. creating a path to a green card for you and your family. The minimum investment is $1,050,000. However, investment in Targeted Employment Areas reduces the minimum cost to $800,000. Learn more about the EB-5 visa by investment program.
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Form I-485, or the "Application to Register Permanent Residence" allows an EB-5 investor to adjust their investor's status from a non-immigrant to a conditional permanent resident (CPR). To take advantage of this, the EB-5 investor must already be in the United States lawfully on a non-immigrant visa such as a F-1 or H-1B. The form is generally filed after the I-526E Petition which is the first step in the EB-5 visa process. This blog post explains how the Form I485 fits into the overall EB-5 process, the essential documents needed, and how to avoid potential delays in the adjustment of status journey.
The passing of the EB-5 Reform and Integrity Act of 2022 (“RIA”) allowed EB-5 investors to file Form I-485 concurrently with Form I-526E if visas are available. This is called concurrent filing and allows investors to remain in the US while their application is processed. In short, if you are in the U.S. you can stay in the U.S. while you wait for the adjudication of your Form I-526E Petition.
Once the I-485 is approved, the investor becomes a conditional permanent resident which is good for two years. During this time, they need to fulfil the promise they made with the I-526 form to invest in a project that creates US jobs. In order to remove the conditional and become a permanent resident, the investor must file Form I-829 or the "Petition by Investor to Remove Conditions on Permanent Resident Status". Once this is granted, the investor and their eligible family members receive permanent green cards.
Investor Benefits During I-485 processing:
While the I-485 is processing, EB-5 investors may also file a Form I-765, "Application for Employment Authorization" and Form I-131, "Application for Travel Document" to receive an employment authorization and travel permit, which allows them to work in the US and travel while their applications are pending.
Peachtree Group encourages ourEB-5 investors to consult with their immigration attorney and to read through the Form I-485 form instructions as the specific evidence required with theForm I-485 application may vary depending on the immigrant category you are filing under.
Documents required to be submitted with your Form I-485 include:
As November 2024, the filing fee for Form I-485 is $1,440. The EB-5 investor pays additional filing fees if they are also filing Form I-765 and Form I-131. Be sure to check the USCIS website for the most up to date fee information. In addition, this site has information on what to do while you wait for your green card application.
By following the I 485 form instructions and submitting all the required evidence and supporting documentation at the time of the Form I-485 filing, EB-5 investors may avoid receiving a Request for Evidence (“RFE”) from USCIS.
Tips to prevent receiving an RFE include:
For more information about the I-526E Form and the EB-5 Immigrant Investor Program, consider consulting the following resources:
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