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 01:00 AM

UPDATED March 02, 2015 11:03 AM

More Videos

  • Suburban apartments are popping up

    11030 David Taylor Drive is currently an undeveloped field off West Mallard Creek Church Road but is one of several locations where developers are planning big new, suburban apartment complexes. Even as attention focuses on the high profile sites next to the light rail and uptown office towers, developers are turning their focus to the suburbs, where there's cheaper land and plenty of demand.