Luxury condominium developer Randall Davis has tapped a federal program targeting wealthy foreigners to fund his newest real estate project, a $70 million residential tower near the Galleria called Astoria.
Twenty-nine investors from countries in Latin America, Africa, Europe and Asia have contributed $1 million apiece to a so-called EB-5 Regional Center, a company set up to collect money from foreign investors for a job-creating commercial enterprise. In return the investors can become lawful permanent residents of the United States.
Seems like that's a repeat of a story that ran last year. Either that or there's more than one highrise in Houston that's trying to attract foreign investors through the visa loophole.
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"This will be good for the city"
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