Project Open and Seeking EB-5 Investment
Construction complete, Hotel Opened February 2019
Located at 708 Third Street South the 139,000 square foot Historic Thresher Square office building has been renovated to include the Canopy by Hilton Minneapolis Mill District and a new restaurant, the Denver based Bacon Social House (opening May 2019). Underground parking will be available in adjoining property developed by Sherman Associates on the site.
The Canopy by Hilton is an energizing new hotel that opened February 2019 in the heart of the Minneapolis’ Mill District. It is well connected to the rest of downtown by the temperature-controlled Skyway system and light rail which also provides quick connections to the Mall of America, MSP International Airport, University of Minnesota campus and downtown St. Paul. The new U.S Bank Stadium (home of the NFL Super Bowl 2018 and the Minnesota Vikings) is also located in Minneapolis’ Mill District as well.
Limited Number of EB-5 Investor Spots Remain
All Required EB-5 Jobs Have Been Created
- All required jobs to meet EB-5 requirements have been created the day construction was completed in December 2018.
- A total of 616 jobs were created (only 200 jobs needed for EB-5 investors, this project has 416 job surplus).
- EB-5 funds are not needed to complete the project, George Sherman has already contributed $10 million bridge load towards the above Canopy by Hilton Hotel.
- EB-5 funds contribute only 16% of total investment needed.
- Each EB-5 investor is treated as a separate investor.
- There is no waiting on investment to be pooled with other EB-5 investors.
- A 3rd party study by HVS (Hospitality intelligence – www.hvs.com) and Hilton reviewed the feasibility of success of this project.
- The project was endorsed with high recommendations.
- ICC has a 100% success rate of I-526 approvals (33 approvals to date)
- Most successful EB-5 Regional Center in Minnesota.
- The Thresher Hilton Hotel project follows the same formulas that created the 100% approval with ZERO RFE’s (Request for Evidence by USCIS) of ICC’s Hyatt Hotel Custom House project
- The same 1st secured Bank, the same type of historical tax credits, the same Developer funded EB-5 bridge loan, the same MN Regional Center (ICC), a premium brand Hotel, 3rd party study verification, and the same EB-5 attorney processing the applications.