EB-5 capital used to assist the second phase of construction related to the construction of Fresh Direct's new food processing and distribution headquarters in the South Bronx

NEW YORK, NY – October 26, 2020 – The New York City Regional Center (“NYCRC”) is pleased to announce that the first I-829 petitions have been filed in the Fresh Direct Project (Phase II) (“EB-5 Project”).  I-829 petitions have now been filed in 20 NYCRC offerings.  To date, 1,771 I-829 petition approvals have been issued in NYCRC offerings resulting in 5,114 individuals (EB-5 investors and family members) achieving permanent residency in the United States. 

The EB-5 Project included the second phase of construction involving the build out of an additional 225,000 square feet of space for Fresh Direct’s new food processing and distribution facility, one of the largest in New York City, within the Harlem River Yard Transportation and Distribution Center in the Bronx. The new facility includes space for food processing, warehousing, distribution, and operations for Fresh Direct, the largest independent, full-service internet food grocer in the United States. 

The Project is an economic development initiative that is bringing much needed new jobs to the 16th Congressional District in the South Bronx, one of the poorest congressional districts in the United States.  The Project is also a component of New York City’s efforts to strengthen and grow the food manufacturing and distribution industry, a significant sector of the city’s economy. 

Construction of the Project is complete and all $55 million of EB-5 capital was spent on qualified construction expenditures.  The I-829 petition submission reflects that 1,342 jobs were created from construction-related activity. 

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