The photo highlighted in a recent article in The RealDeal, a New York-based real estate trade paper, speaks louder than words.
The EB-5 program is supposed to channel investment to depressed urban or rural areas. But Sens. Chuck Grassley (R-Iowa) and Pat Leahy (D-Vt.), chairman and ranking Democrat on the Senate Judiciary Committee and EB-5 reformers, say it provides too much capital to glitzy, downtown urban areas.
The news item, which would involve about 10 percent of a year's supply of EB-5 visas, neatly supports their position:
