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.
Construction on our NYC Ritz-Carlton project in Manhattan, NY, is continuing to see rapid progress. Multiple sections of the structure have pushed well past street level. This month, EB5 Capital’s Investor Relations Manager, Jen Kim, visited New York City and toured the project.
“It’s really amazing to see how quickly the structure has come above ground,” said Jen. “We are now seeing visual progress from week-to-week at the Ritz site. I’m excited that our investors are able to witness the progress in real-time.”
Take a look at some of what’s happening now on the construction site.
EB5 Capital’s partner, Foulger-Pratt, broke ground on 331 N on Wednesday. 331 N (also known as “Press House”) is located in the heart of the NoMa neighborhood of Washington, DC and will be the company’s sixth EB-5 project in the immediate vicinity.
“Having the opportunity to see the ceremonial start of construction on a project like 331 N is always very gratifying,” said Juline Kaleyias, EB5 Capital’s Director of Investor Relations. “We’re looking forward to sharing the progress of this project with our limited partners.”
Take a look at photographic highlights below.