ATHENA LUXURY CONDO PROJECT
LONG ISLAND CITY, NEW YORK
EB-5 Investment in a Visa Reservation Category
EB-5 Offering Terms
Total Available Slot15
Project SecuritySufficient Jobs, Construction Proceeds Successfully
EB5 Athena LIC
The Athena LIC project is a 9-story luxury building with a basement that includes 51 residential units, retail space and amenities such as electronic doorman, video intercom, gym, storage, bike room, parcel room, lounge and play area, children's room, and two rooftop gardens. The project is conveniently located in the heart of Long Island, Queens, with commercial retail space on floors 1 to 2 and residential areas on floors 3 to 9, including 9 single apartments, 25 one-bedroom, 15 two-bedroom and 2 three-bedroom units.
Athena LIC is conveniently located in downtown Long Island City, the gateway to Manhattan, with easy access to eight subway lines and the Ed Koch Queensboro Bridge within walking distance. The project's proximity to Manhattan and the rest of New York City allows people to walk to and from Manhattan via the sidewalks of the Queensboro Bridge. It is also adjacent to Jacx Towers, Long Island City's new commercial, retail and entertainment center.
|Central Park||2 Stops|
|Times Square||4 Stops|
|Hudson Yards||7 Stops|
|Parsons School of Design||8 Stops|
|New York University||10 Stops|
|Wall Street||12 Stops|
|Flushing Main Street||14 Stops by Subway Or 1 Stop Subway+LIRR|
Long Island City, New York
Under the government's strong support, the core area of Long Island City has developed rapidly in the past 10 years, so that the land available for development is becoming scarce. Since Long Island City was previously occupied by a large industrial estate, the rezoning has the potential to create a large office park with the advantage of larger parcels of land, making it a true mixed-use commercial and residential community. Once large technology companies move in, the land prices will possibly appreciate significantly.
Among New York City neighborhoods, Long Island City has the fastest growing Asian population, which has increased fivefold since 2010. The Asian American community is the highest average income minority group in the United States. Asian singles generally have high spending power because they do not yet have the burden of raising children. Long Island City, as a hub for young Asians, is inevitably accompanied by a much higher spending power and robust business activity than most communities.
PROJECT SECURITY AND PROGRESS
- The project is located in a "High Unemployment Area" as defined by the new EB-5 law for TEAs (Targeted Employment Areas) and meets the visa reservation requirements for the $800,000 minimum investment amount.
- The number of jobs created is 204 and each investor will be assigned 13.6 jobs, which is sufficient to meet and exceed the EB-5 program requirement of 10 qualified jobs per investor.
- Construction has begun and is progressing well. Demolition was completed in early 2021 and the groundbreaking was held in late August, with construction of the foundation completed in March 2022 and construction of the main building expected to be completed in Q4 2023.
- The project is fully funded. New EB-5 funding will replace existing shareholder bridge funding.
- The Regional Center's prior track record is all successful, with no record of failure.
|Land Closing||August 2020|
|Construction Starting Time||August 2021|
|Construction Topping Off||July 2022|
|Expected Completion Time||Q4 2023|
- Athena Project Progress - How the High Ceiling Condos Were Made 04/28/2022
- Foundations Progress At 27-20 42nd Road, Aka Project Athena, In Hunters Point, Queens 03/13/2022
- The Same Coating As The Palace of Versailles, Athena Carefully Selects Building Materials, And Details Are Guaranteed 03/30/2022
- Athena LIC Project Foundation Cement Poured Successfully 2022/2/18
- ZL Capital Breaks Ground on 51-Unit Athena LIC Condo Project in Long Island City 09/03/2021