Seattle Southport Office EB-5 Project
About Southport Office Campus
The Southport on Lake Washington Office Campus is situated on the south shore of Lake Washington. Within the Southport campus is a mixed-use 17.1 acre waterfront development. The subject office development will include three, 9-story buildings consisting of 727,634 gross square feet of Class "A" office space, together with 695,159 GSF of parking, currently under construction on 5.62 acres, with occupancy scheduled for 2019.
- Large, efficient floor plates ranging from 25,000 to 33,000 RSF
- 727,634 SF of Gross Building Space, 714,078 SF of Net Rentable Office Area, 10,279 SF of Retail Space
- 695,159 SF of Garage Parking, 2,121 structured parking spaces with the ability to expand parking to an adjacent site to meet a tenants needs.
- Large, light and airy corporate common spaces and internal building connection within the first floor and podium roof terraces between Towers at Levels 2 and 3 and at Levels 4 through 8 of each Tower
- Indoor/Outdoor waterfront conference pavilion with Winter Garden
- Robust network infrastructure for burst speeds and heavy data transfer requirements
- Secured bike storage for 194 bicycles with additional storage for kayaks
- Office Tower 2 is provided with raised structural pad and an additional exit for future helistop, if desired. Read more
About the EB-5 Offering
- Issuer: Southport Office EB-5, LP
- General Partner: Seattle Family Regional Center
- Offering Amount: Up to 246 units of limited partnership interests
- Offering Price: US $500,000 plus an administrative fee
- Offering Proceeds: Aggregate proceeds up to US $123 million that will be loaned to develop the project
- Jobs Required: 2,460 (All jobs needed for the investors’ I-829s have been created)
- Actual Job Creation: 3,910
- Job Cushion: 59%
- Construction began January 2016 Read more
Project Advantages
- USCIS exemplar-approved project with multiple already–approved I-526 petitions
- Experienced successful developer -- SECO Development incorporated in 1989
- Waterfront location surrounded by some of the most powerful global business leaders in the world
- Direct access to I-405, within minutes of I-5 and I-90, a short ten-minute drive to Seattle’s International Airport
- Experienced EB-5 Teams: Advised by Robert C. Divine Esq., the leader of Baker Donelson’s Global Immigration Group, Seattle Family Regional Center has helped hundreds of investors submit their Green Card applications
- Construction is over 70% complete. All jobs needed for I-829 petition-removal of conditions have been created
- Developer equity invested, Construction financing secured, EB-5 financing over ½ raised -- Allows for the entire capital required for project completion
- EB-5 capital deposits use NES Financial-monitored draw down account. Loan draws reviewed by Falkin Associates.-Transparency in funds management
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