EB5 Capital Breaks Ground on Eckington Park, Its 26th EB-5 Project

Posted by Juline Kaleyias on

This month, EB5 Capital broke ground on its 26th EB-5 project, Eckington Park, a 327-unit luxury multifamily project in the Eckington neighborhood of Washington, DC. EB5 Capital is working with its experienced developer partner, Foulger-Pratt. This will be our third EB-5 project partnership with this developer.

Eckington Park is located immediately adjacent to Tanner Park. Currently under construction, Tanner Park is a new park being built by the NoMa Business Improvement District. Tanner — named for formerly enslaved woman Alethia Tanner who helped open the District’s first school for African American children in 1807 — will feature a large lawn, a children’s playground, and a dog park.

“We’re thrilled to be joining Foulger-Pratt for what will be our third time partnering on a DC multifamily project,” said Patrick Rainey, EB5 Capital’s Vice President of Investments. “Our company is committed to the development of the NoMa and Eckington neighborhoods and we’re thrilled to have another opportunity to bring much-needed jobs, commerce, and housing to a region of the District in need of all three.”

See the photo recap of the groundbreaking event below.

EB5 Capital Meets with US Congressional Staff Members to Share Impact of EB-5 Program in the District

Posted by Juline Kaleyias on

Last week, EB5 Capital hosted several United States Congressional staff members at The Highline (our 13th EB-5 project) to share the impact the EB-5 program is having in Washington, DC.

Located in the NoMa neighborhood of the District, The Highline is one of six EB-5 projects, all within walking distance of one another. EB5 Capital has invested $170 million in NoMa, creating over U.S. 6,100 jobs.

“Being located in the Washington, DC metro area allows us to stay connected to policy decisions around the EB-5 program,” said Brian Ostar, Senior VP of Global Operations. “Sharing what we’ve been able to accomplish in NoMa and areas similar to NoMa is a critical component of helping our legislators understand the value of the program as a strong, tax-free economic development tool.”

See a photo recap below.