DALLAS, Aug. 6, 2024
/PRNewswire/ -- Civitas Capital Group, a Dallas-based alternative investment manager
offering niche opportunities in U.S. real estate, today announced
that its Third Street Promenade Santa Monica project has received
Form I-956F approval from the United States Citizenship and
Immigration Services (USCIS). An approved Form I-956F is a vital
first step to the approval of each investor's I-526E petition.
With this approval, our investors are one
major step closer to achieving their immigration goals.
The Form I-956F is designed to prove to USCIS that the project
is compliant with program requirements. All EB-5 investments have
been secured, and the project is closed to new EB-5 investors.
The approval covers the development of a high-street retail and
creative office project at 1404 Third Street Promenade in
Santa Monica, California. Civitas
is helping bring this flagship mixed-use project to fruition by
providing a senior loan to an experienced local developer.
Construction on the project began in May
2023 and is expected to be completed in September 2024.
"It always makes us proud to see our projects succeed," said
Jeff Kiser, Director and Head of
EB-5 Investor Relations at Civitas. "All of the EB-5 investments
have been filled, construction is on track for delivery this year,
and now with this approval, our investors are one major step closer
to achieving their immigration goals."
Third Street Promenade, with more than 10 million visitors
annually, runs for three blocks and offers a wonderful pedestrian
experience, anchored by iconic brands like Apple, Alo, Louis Vuitton, and Tiffany, as well as movie
theatres, local boutiques, and sidewalk cafés.
Upon completion next month, 1404 Third Street Promenade
will be the only new, state-of-the-art, ground-up construction on
Third Street Promenade. Comprising approximately 25,000 square
feet, the property will feature a modern design with a glass,
steel, and concrete structure framed by steel I-beams extending
from the street level to the top of the second floor. This
architecturally distinctive building will offer tenants a dramatic
façade of floor-to-ceiling-windows and high ceilings throughout.
The fourth floor will have a 4,000 square-foot outdoor roof
terrace, the only one of its kind on Third Street Promenade.
ABOUT CIVITAS CAPITAL GROUP
Civitas Capital Group is a nimble alternative investment manager
offering compelling, niche opportunities in U.S. real estate.
Civitas exists to create opportunities that enrich our communities,
investors, and employees alike. Driven by relentless creativity,
Civitas digs deeper to uncover opportunities that others miss.
Follow Civitas Capital Group on LinkedIn. Learn more at
civitascapital.com.
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SOURCE CIVITAS CAPITAL GROUP