LCR Capital Partners and Industrial Realty Group (IRG) have partnered to secure EB-5 funding for the Johnson Controls Hall of Fame Village in Canton, Ohio. This 200-acre mixed-use development, which surrounds the Pro Football Hall of Fame, presents a unique investment opportunity for global investors.
Project Details and Key Milestones
The Hall of Fame Village project is a multi-phase development with significant progress already made and a clear plan for the future.
- Phase 1 Completion: This phase, which began in 2015, includes the completed Tom Benson Hall of Fame Stadium and the National Youth Football and Sports Complex.
- Phase 2 Plans: Future development plans include a Hall of Fame Tapestry Hotel by Hilton, a waterpark, a conference center, and various retail and restaurant spaces.
- Job Creation: The project has already created over 3,650 jobs, far exceeding the EB-5 program’s requirement.
- USCIS Approval: The project has received I-924 exemplar approval from USCIS, a key step that confirms the business plan and job creation methodology are compliant with the EB-5 program’s rules.
- Investor Success: Over 100 EB-5 investors have already received I-526 approvals, demonstrating the project’s success in navigating the immigration process.
Financial Developments and Future Outlook
The project has also received significant financial backing, including a multimillion-dollar funding from Constellation and a $10 million investment from NFL owners. In a recent development, the HOF Village LLC will be merging with Gordon Pointe Acquisition Corp. and will be renamed Hall of Fame Resort & Entertainment Company, which will trade on the NASDAQ stock exchange under the ticker symbol “HOFV.” This provides a new level of transparency and credibility to the project.
This partnership offers international investors a stable and promising avenue to invest in a major US development and secure a path to permanent residency.
