The Ivy District is notable for its scale as well as for the funding mechanisms that made the project happen.
Darla Guillen reports on the beginning of construction at a massive new master planned development in Pearland, located just west of Texas 288 and south of Beltway 8. The Ivy District, as the development is called, "will offer office space, retail shops, restaurants and residential options that include townhomes, apartments, senior living and condominiums," according to Guillen. "A hotel is also tentatively in the works as well as a 15- to 18-acre park."
In addition to its size, the project is notable for its developer: "The $300 million project comes courtesy of America Modern Green, an American affiliate of the Beijing-based investment holding company Modern Land China. China has become a leading investor in Texas, specifically Houston, having spent $7.4 billion in this state over the last 15 years…"
The company will also make use of the federal EB-5 investment program, "which makes U.S. visas more accessible to foreign citizens who invest heavily in America."
FULL STORY: China-based developer breaks ground on $300M development in Pearland
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