The third phase of the redevelopment of the former headquarters of Goodyear Tire & Rubber Co. in Akron, Ohio. The high-end space features a modern lobby with nods to the site’s history and apartments with various layouts to accommodate the unique architecture of the building. In all, 66 new apartment units will be built on floors 5, 6, & 7. This will include 56 - 1 bedroom, 1 bathroom apartments and 10 - 2 bedroom, 2 bathroom apartments.
Industrial Realty Group, LLC is a developer of the project. IRG is one of the largest privately owned industrial real estate developers in the U.S. with property ownership over 100 million square feet. Through its affiliates, IRG provides the opportunity to invest in its projects using a variety of sources, including EB-5 and international investment partners. Approximately $156 Million of EB-5 loans have already been re-paid to various EB-5 lenders.
| Project | Investors | EB-5 Status | I-526 Approval | I-829 Approval | Loan Repayment |
|---|---|---|---|---|---|
| McClellan Business Park I - Q2 2008 1 | 12 | Completed | 100% | 100% | Full Loan Early Repayment |
| McClellan Business Park II - Q1 2010 1 | 12 | Completed | 100% | 100% | Full Loan Early Repayment |
| McClellan Business Park III - Q2 2010 1 | 12 | Completed | 100% | 100% | Full Loan Repayment |
| McClellan Business Park IV - Q2 2011 1 | 80 | Completed | 100% | 100% | Full Loan Repayment |
| McClellan Business Park V - Q3 2011 1 | 82 | Completed | 100% | 100% | Full Loan Repayment |
| McClellan Business Park VI - Q3 2011 1 | 78 | Completed | 100% | 100% | Full Loan Repayment |
| Rubber City Redevelopment (Goodyear) & Hoover Redevelopment 1 | 142 | Completed | 100% | Pending Adjudicaton | Full Loan Repayment |
| The Promenade at Downey Phase I - Q3 2012 1 | 36 | Completed | 100% | Pending Adjudicaton | Full Loan Repayment |
| The Promenade at Downey II - Q3 2014 2 | 55 | Completed | 100% | Pending Adjudicaton | EB-5 Loan Proceeds Redeployed |
| ADC American Football and GY Lender, LLC 2 | 198 | Phase I Completed | In Progress | Not yet filed | Not Due |
| Project | McClellan Business Park I - Q2 2008 1 | McClellan Business Park II - Q1 2010 1 | McClellan Business Park III - Q2 2010 1 | McClellan Business Park IV - Q2 2011 1 | McClellan Business Park V - Q3 2011 1 | McClellan Business Park VI - Q3 2011 1 | Rubber City Redevelopment (Goodyear) & Hoover Redevelopment 1 | The Promenade at Downey Phase I - Q3 2012 1 | The Promenade at Downey II - Q3 2014 2 | ADC American Football and GY Lender, LLC 2 |
| Investors | 12 | 12 | 12 | 80 | 82 | 78 | 142 | 36 | 55 | 198 |
| EB-5 Status | Completed | Completed | Completed | Completed | Completed | Completed | Completed | Completed | Completed | Phase I Completed |
| I-526 Approval | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | 100% | In Progress |
| I-829 Approval | 100% | 100% | 100% | 100% | 100% | 100% | Pending Adjudicaton | Pending Adjudicaton | Pending Adjudicaton | Not yet filed |
| Loan Repayment | Full Loan Early Repayment | Full Loan Early Repayment | Full Loan Repayment | Full Loan Repayment | Full Loan Repayment | Full Loan Repayment | Full Loan Repayment | Full Loan Repayment | EB-5 Loan Proceeds Redeployed | Not Due |
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