We are thrilled to announce that Behring Regional Center has received I-956F approval from USCIS for our RISE project, as part of the BRC Legacy Partners LP (Legacy Fund). This approval marks a significant milestone in our ongoing commitment to providing EB-5 investors with secure, high-quality investment opportunities that lead to U.S. permanent residency.
Today, Behring received its I-956F approval notice for the Legacy Fund, which offers the preferred equity investment option for investors. We expect to receive I-956F approval for our loan-style, maximum protection option imminently since the Legacy Fund and RISE’s loan-style fund share the same I-956F supporting documentation. Behring filed a mandamus action on August 2, 2024 to expedite approval.
What This Means for Our Investors
The I-956F approval is a critical validation from USCIS, confirming that our RISE project, which offers a multi-asset project featuring student housing for UC Berkeley students and workforce housing strategically located in the San Francisco Bay Area, is fully compliant with all EB-5 program requirements. This approval assures our investors that the RISE project meets the rigorous standards necessary to support their journey towards obtaining a U.S. green card.
The I-956F approval demonstrates once again Behring’s leadership in EB-5 highlighting that a portfolio loan approach offering diversification for EB-5 investors – often found in the private real estate investment market – complies with all EB-5 requirements.
About the RISE Project: Quality, Affordable Housing Under Construction Now
RISE provides EB-5 investors with unparalleled access to a diverse portfolio of urban residential apartment housing for rent. These projects are strategically located in the San Francisco Bay Area, one of the most dynamic and economically robust regions in the world and capital of today’s AI market. The Bay Area is not only known for its thriving tech industry but also for its strong job market, making it an ideal location for EB-5 investments aimed at creating sustainable employment opportunities.
The RISE project is already well underway construction. With 3 properties already leasing, the RISE project is already proven in its concept of offering affordable by design workforce housing to Oakland, Emeryville and Berkeley. Two more apartment buildings are nearing final completion and begin leasing this month. To date, more than half the minimum EB-5 jobs required has already been created. Upon completion, more than 2,700 jobs will be created for all 131 EB-5 investors.
Key Advantages of the RISE Project
Prime Location in a High-Demand Market
The RISE project capitalizes on the economic strength and global significance of the San Francisco Bay Area. With its close proximity to Silicon Valley and UC Berkeley and access to a highly skilled workforce, the region offers a robust market for real estate development, ensuring strong demand and long-term value for our investors.
Diversified Portfolio
The RISE project comprises 14 different apartment properties, each carefully selected to maximize economic impact and minimize risk. This diversification provides investors with a balanced and resilient investment option that is less vulnerable to market fluctuations.
Focus on Job Creation
Each development within the RISE project is designed to generate construction jobs – simple to measure – to satisfy the job creation requirements of the EB-5 Program. By investing in projects that contribute to the local economy, we ensure that our investors are on the right track to fulfilling the job creation criteria necessary for U.S. permanent residency.
Flexible Investment Options
RISE offers multiple investment options to match your investment and immigration goals. This allows for a more personalized approach to investment, catering to different risk tolerances and financial goals.
Strong Track Record of Success
Behring Regional Center has a proven history of delivering successful EB-5 projects that meet USCIS requirements and provide our investors with a clear path to U.S. citizenship. The RISE project builds on this legacy, offering a secure and reliable investment option.
Why USCIS Approval Matters
Achieving I-956F Approval is no small feat. This USCIS endorsement confirms that the RISE project is structured to meet the program’s requirements for job creation, economic impact, and investor security. For our EB-5 investors, this approval is a clear signal that USCIS has concluded that the RISE project’s business plan is credible, the job creation methodology to count jobs is reasonable, and that investors are on the right path toward achieving their immigration goals.
Looking Forward: Continued Progress for Behring’s RISE Project
With this I-956F approval, Behring Regional Center is further solidifying its position as a leader in the EB-5 investment space. We are proud to offer projects like RISE that not only contribute to urban revitalization but also provide our investors with the opportunity to secure their future in the United States.
We are grateful to our investors, partners, and stakeholders who have supported us in reaching this important milestone. As we move forward, we remain committed to delivering exceptional results and ensuring that our projects continue to meet and exceed USCIS standards.
Behring anticipates soon USCIS will begin processing our investors’ I-526E petitions. When doing so, USCIS will now defer to its I-956F approval and focus on investors’ source of funds reports, improving the efficiency of future I-526E approvals for our investors.
For more information about the RISE project and how you can become an EB-5 investor with Behring Regional Center, schedule a call with the Behring team.
Download the RISE Fund Investor Presentation
Schedule a Free EB-5 Consultation With Behring’s Team
