Project Description
CMB Infrastructure Investment Group 83 (the “Group 83”) is planning to raise up to $49.6 million of EB-5 funds to provide a loan to a subsidiary of Hillwood Development Company (“Hillwood”), one of the top ten real estate developers in the United States, for the development and construction of the SOMI-Hayward project in Hayward, California. The project is expected to include a total of 189 units of townhouses and apartments on approximately 12.2 acres (4.937 hectares) of land located at the intersection of Mission Boulevard and Tennyson Road in the eastern part of the San Francisco Bay Area. The project will be jointly developed and constructed by Hillwood and Homes Built for America.
The SoMi Hayward project consists of 123 three- and four-bedroom townhomes with an average size of 1,683 square feet and 66 apartments with an average size of 1,335 square feet. The entire development includes approximately 10,800 square feet of ground-level commercial space, an urban park, and a pet park.
Project Highlights
- Construction Schedules
The project broke ground in the fourth quarter of 2021 and is expected to be completed in the first quarter of 2025.
- Capital Stack
| Developers | $15,182,000 |
| Senior Loan | $49,600,000 |
| EB-5 | $78,132,825 |
| Total Cost |
$142,914,825 |
- Expected job creation from development and construction: 833；Targeted job creation：620
Project advantages
- Experienced: Approximately 70 I-526 or I-829 projects have been approved with a 100% approval rate.
- High success rate in immigration: The team has helped nearly 6,000 investor families successfully immigrate to the United States.
- Industry-leading approval and repayment records
| 5,800+ EB-5 Investors |
| 5,000+ I-526 Approved |
| 2,000+ Investor Repaid |
| 1,900+ I-829 Approved |