JUPITER, Fla., Nov. 20, 2018 /CNW/ -- This February, the new 452-key Marriott Edition hotel located in Times Square will officially open to the public. The newest hotel addition in Times Square is being developed through EB-5 capital and is a U.S. Immigration Fund project. The first - and likely the last new construction project in Times Square in 25 years - 701 TSQ is entering the market to offer hotel, retail and restaurant space. With the project near completion, 701 also boasts one of the largest LED screens in Times Square, traversing a massive 18,000 square feet.
Edition hotels are a brand conceived by renowned international hotelier Ian Schrager in partnership with Marriott International. The Edition is described as an "unexpected, refreshing collection of individualized, customized one-of-a-kind hotels". Along with Schrager - Witkoff, Winthrop Realty Trust and Maefield Development are the developers for the project and Platt Byard Dovell White Architects (PBDW Architects) is the architect for the project.
In addition to the 452-room EDITION hotel the project boasts 40,000 square feet of highly visible food, beverage and entertainment space plus 76,000 square feet of multi-floor retail space. Hershey's Chocolate World and the NFL Experience have already opened at the base of the project, taking up over 46,000 square feet, and are already enticing customers from all over the world. As the epicenter of entertainment and celebration, Times Square is also a powerful retail and business hub, with 11% of the New York economy being generated out of 0.1% of the state.
As a U.S. Immigration Fund EB-5 project, 701 TSQ created 4,982 sufficient jobs to satisfy US Citizenship and Immigration Services (USCIS) requirements for all EB-5 investors. 96% of I-526 Petitions filed have been approved for this project. This week, a U.S. Immigration Fund investor from China describes seeing the project and his investment in person for the first time: "I feel very lucky and rewarded because I can see part of my investment is helping the New York economy. I was really impressed and rewarded, and I feel happy that my investment has now been visualized".
"Hearing our investors express their pride and happiness with their EB-5 investment is a true testament of our success as a company. We have seen thousands of investors foster economic growth in the United States while also obtaining their dream of living in the United States. The benefits are visible as we continue to grow the American landscape with project such as 701", concluded Nicholas A. Mastroianni III, President of U.S. Immigration Fund.
The Edition hotel can currently be booked on the hotel's website, with the first available guest check in date of February 1, 2019.
About U.S. Immigration Fund:
U.S. Immigration Fund (USIF) is America's leading EB-5 Regional Center operator with world-renowned investment opportunities from New York City to California and approximately 6,000 clients from across the globe. With approved Regional Centers located in the world's most thriving metropolitans, USIF provides worthwhile opportunities for foreign investors and their families to obtain permanent U.S. residency through the EB-5 Program. Each year, the U.S. government allocates 10,000 visas for foreigners who invest through the Program. These initiatives enjoy full government support as they stimulate the economy, generate at least ten jobs per investment, and promote community development while providing access to green cards for foreign investors and their families.
U.S Immigration Fund
115 Front Street suite 300, Jupiter, FL 33477
SOURCE U.S. Immigration Fund