Jane Wu, a Charlotte investor who is using a visa-based financing model for her development, is planning 300-unit upscale apartment complex here at 6919 N. Tryon St. along the Lynx Blue Line extension in the University City area.  In the University City area, a proposed mixed-use development near the light-rail extension is typical enough. But its source of funding is not: Chinese investors who want a U.S. visa in exchange for $500,000. The EB-5 program is perfectly legal and exploding in popularity. Congress created the program in 1990 to stimulate the U.S. economy with more foreign investment.
Jane Wu, a Charlotte investor who is using a visa-based financing model for her development, is planning 300-unit upscale apartment complex here at 6919 N. Tryon St. along the Lynx Blue Line extension in the University City area. In the University City area, a proposed mixed-use development near the light-rail extension is typical enough. But its source of funding is not: Chinese investors who want a U.S. visa in exchange for $500,000. The EB-5 program is perfectly legal and exploding in popularity. Congress created the program in 1990 to stimulate the U.S. economy with more foreign investment. Diedra Laird dlaird@charlotteobserver.com
Jane Wu, a Charlotte investor who is using a visa-based financing model for her development, is planning 300-unit upscale apartment complex here at 6919 N. Tryon St. along the Lynx Blue Line extension in the University City area. In the University City area, a proposed mixed-use development near the light-rail extension is typical enough. But its source of funding is not: Chinese investors who want a U.S. visa in exchange for $500,000. The EB-5 program is perfectly legal and exploding in popularity. Congress created the program in 1990 to stimulate the U.S. economy with more foreign investment. Diedra Laird dlaird@charlotteobserver.com

A visa, for a price: Charlotte developer raises funds with little-known immigration program

February 28, 2015 1:00 AM

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