USCIS approved the I-924 exemplar application for CanAm’s Westin Hotel at the Texas Medical Center project last month.
CanAm Enterprises (“CanAm”) is thrilled to announce that the I-924 exemplar for its Westin Hotel at Texas Medical Center project has been approved by the U.S. Citizenship and Immigration Services (USCIS) on March 19, 2020.
CanAm made the $20 million EB-5 investment to help finance the renovation of a 19-story historic and iconic building located directly adjacent to the Texas Medical Center in Houston, Texas into a 272-suite, approximately 210,000 square foot full-service hotel under the Westin brand. The hotel had its soft opening on December 20th, 2019.
While the building is known as an avant-garde architectural icon, the hotel itself offers a luxurious retreat amid the innovation and breakthrough advancements of the Texas Medical Center and award-winning Houston Museum District. The newly renovated historic landmark welcomes guests into a stunning pavilion with a serene atmosphere of nature-inspired aesthetics, grand skylights and outdoor spaces with magnificent views overlooking the greens of Rice University into the dramatic downtown Houston skyline.
The hotel is surrounded by globally acclaimed healthcare and educational institutions. The Texas Medical Center is the largest medical complex in the world and consists of 60 healthcare institutions, including the Baylor College of Medicine, the Texas Children’s Hospital and the MD Anderson Cancer Center, which are the largest children’s and cancer hospitals in the world, respectively. The Texas Medical Center employs over 106,000 medical professionals who collectively serve more than 10 million patients every year.
“I would like to personally congratulate Westin on opening a much needed hotel in the Texas Medical Center,” said Tom Rosenfeld, President and CEO of CanAm Enterprises. “As with many of our past projects, we are always thrilled to see our investments help create jobs and build new facilitates which serve our communities. USCIS’s approval of our project exemplar further validates the Westin Hotel’s business plan,” Mr. Rosenfeld added.
The EB-5 Immigrant Investor Program (EB-5 Program) is administered by the United States Citizenship and Immigration Services (USCIS). The EB-5 Program provides qualified foreign investors with the opportunity to earn a conditional, or temporary, two-year green card in return for investing $900,000 in projects located in high unemployment areas that create at least ten permanent full-time jobs for U.S. workers.
With three decades of experience promoting immigration-linked investments in the United States and Canada, CanAm has a long and established track record. Basing its business on a reputation of credibility and trust, CanAm has financed 61 projects and raised nearly $3 billion in EB-5 investments. More than $1.4 billion in EB-5 capital from over 2,800 families have been repaid by CanAm’s 41 projects to date. CanAm exclusively operates seven USCIS-designated regional centers that are located in the city of Philadelphia, the Commonwealth of Pennsylvania, the metropolitan regions of New York & New Jersey, the states of California, Hawaii, Florida, and Texas. For more information, please visit www.canamenterprises.com.