BisNow references the creative way the Astoria is being financed:
"Transwestern’s Jan Sparks and Michael Snodgrass arranged construction financing for the Astoria, a high-rise condo tower that broke ground in the Galleria last year. The 29-story property will include 75 units when it delivers in December 2016. The borrower was DC Partners’ Randall Davis. Page handled design and GT Leach Constructors is GC. Jan says it was challenging to find a construction lender willing and able to take on a ground-up, for-sale condo development of this size on a non-recourse basis. Individual investors provided equity funding for the Astoria through the Houston EB5 Regional Center."
EB-5s are how foreigners finance entry into the US outside the normal immigration channels.
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"This will be good for the city"
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