A huge construction project in Vail, CO is being made possible by immigrant investors through the EB-5 program, the Denver Post reported last week. The newly approved $375 million Solaris project will create new residences and commercial spaces and is the first of its kind in Colorado. In addition to creating jobs for Colorado workers, the project has the potential to get Green Cards for up to 160 wealthy foreign investors and their families. The project developers expect to get $80 from foreign investors under the growing EB-5 program.
The EB-5 program offers visas to prospective immigrants who invest $500,000 in a project or business that creates at least 10 jobs. The EB-5 program as been growing rapidly since as businesses are looking for alternative capital sources in the wake of the economic downturn.