The Bellwether District project will help clean up oil and revitalize the PES refinery site in Philadelphia into a green and sustainable campus, promoting industry and innovation.
Previously, the 1,300-acre PES refinery was the most important and strategically located development area in Philadelphia. Large area, second only to Philadelphia International Airport. Currently, this area needs to be renovated and converted by the Government into “Bellwether District”.
The Bellwether District project will be completed in phases. Once completed, it will lead the way in sustainable development, innovation and economic growth for the entire city.
- EB-5 Loan: $100M
- Total Targeted Investor Slots: 125
- Minimum Investment Amount: $800,000
- Estimated employment: 2,300 jobs. (Data updated until June 2023)
- Loan term: 5+ years
PROJECT CAPITAL STRUCTURE
- Total project value is 1.2 billion USD with the following structure:
- Developer Equity: 39% ~ 469 million USD
- PCCP senior loan: 42% ~ 500 million USD
- Loan capital for construction of lots 15&16: 11% ~ 131 million USD
- EB-5 capital: 8% ~ 100 million USD
Of which, 100 million USD of EB-5 capital is used for infrastructure improvement and excavation in 2 lots:
- 326,000 SF, 23-acre logistics facility on Lot 15.
- 727,000 SF, 46-acre logistics facility on Lot 16.
The project is located in the city of Philadelphia – the U.S. capital before Washington D.C. and is the sixth largest city in the U.S.
It’s only a 2-hour drive north to New York City; and a 3-hour drive south from Washington D.C.
Philadelphia City:
- Population: 120 million (~40% of US population).
- Top 5 venture capital centers.
- Top 5 Life Science Centers in the US.
- Philadelphia is ranked 7th among the top 10 industrial real estate markets for 2023.
- Since early 2023, Philadelphia has led the US Mid-Atlantic region in the industrial performance index, surpassing New York, Northern New Jersey, Washington D.C., and Boston.
Hilco Redevelopment PARTNERS (HRP),
- It is a leading integrated real estate company that specializes in large-scale complex redevelopment.
- Headquartered in Chicago and has offices in Boston, Philadelphia, New Jersey, and Miami.
- HRP also invests external capital through joint ventures with private real estate funds, institutional investors, and family offices:
- 40 million square feet of real estate acquired.
- $2.5 billion in assets under management.
- 24 million square feet is the acquired, developed or planned area in the portfolio.
CanAm Regional Center – 35 years of EB-5 investment experience
- Developed more than 63 projects for EB-5 settlement investment. This is the 64th project.
- Mobilizing capital up to 3 billion USD.
- Refund for more than 4,000 families with capital of up to 2.15 billion.
- Helped 15,000 investors receive conditional green cards.
- There are 7,800 investors with permanent green cards.
- CanAm exclusively operates seven USCIS-designated Regional Centers. RCs are concentrated in Philadelphia, Pennsylvania, New York, New Jersey, California, Hawaii, Florida and Texas.
- Meet all requirements from the Department of Immigration for projects that can mobilize EB-5 investment in the TEA.
- Strategic location in Philadelphia city. In the short and long term, the city of Philadelphia does not have many special areas like the Project. Bellwether District will be in a strategic location.
- Receive support from the Government.
- There are guaranteed commitments from the project owner.
- Priority is given to handling projects in rural areas according to regulations from USCIS.
- Allows foreign investors to file I-526 and I-485.
- Number of jobs exceeds USCIS requirements (18 jobs/investor).
Guarantee from the project:
- Construction Completion Guarantee.
- There are collateral assets.
- Guaranteed repayment of EB-5 loan by sale of subdivided land, sale of logistics facilities or refinancing.
