Industry Updates

First I-829 Petition Approved and Permanent Green Card Issued for CanAm’s Iconic Spiral Project

Published: July 19, 2023

CanAm Enterprises (“CanAm“) is pleased to announce that the USCIS has approved the first I-829 Petition and a permanent green card has been issued in connection with “The Spiral“, the 66-floor architectural office tower in the heart of New York City.

Since construction began in mid-2018, the sustainable Spiral building has become home to multiple corporate headquarters, including pharmaceutical giant Pfizer and the multinational universal bank, HSBC. According to developer Tishman Speyer, additional high-profile tenants among the building’s 2.8 million square feet will include Turner Construction and a gourmet restaurant owned by restaurateurs Erik Ramirez and Juan Correa.

“CanAm has joined thousands of families on their EB-5 journey to achieve their immigration and investment goals, and there’s no greater joy for us than seeing the successful conclusion of permanent green cards for the investor and their family members,” said Tom Rosenfeld, President and CEO of CanAm. In its 35 years of experience with immigration-linked investments, CanAm’s track record includes the issuance of more than 8,100 permanent green cards and more than 15,000 conditional green cards. CanAm’s track record and approval numbers have been audited by third party accountancy firm, PKF O’Connor Davies, as of December 31, 2022.

The biggest value of EB-5 is when we see investors come to the U.S., start new lives here, create more jobs and truly personify the American Dream. While the permanent green card marks the end of an EB-5 immigration journey, every step along the way – from project selection, to working with an experienced regional center who is committed to putting clients’ interests first – profoundly influences the success of the EB-5 experience,” Rosenfeld added.

As a Regional Center operator, CanAm carefully selects and structures development projects designed to fully comply with EB-5 program and job creation requirements. As of June 2023, 50 of CanAm’s EB-5 project loans have repaid the investment capital in full. CanAm assists immigrant investor clients with all phases of the immigration by investment program, including conservative underwriting, and preparing offering documents and materials related to USCIS immigration applications.

About CanAm Enterprises

CanAm Enterprises, with over three decades of experience promoting immigration-linked investments in the US and Canada, has an established demonstrated track record of success. CanAm has earned a reputation for credibility and trust from more than 6,000 qualifying investors around the world that collectively invested over $3 billion for 65 EB-5 projects. To date, CanAm has repaid more than $2.24 billion in EB-5 capital, representing 4,500 families. CanAm manages several USCIS-designated regional centers across multiple states.

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Disclaimer: Past performance is no guarantee of future results. EB-5 related decisions should be guided by the advice of and consultation with professional immigration attorneys, tax and financial advisors.

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