Thompson Palm Springs Secures I-956F Approval from USCIS

We are very honored to announce that on February 15, 2024, LCR Capitals Thompson Palm Springs EB-5 project received its I-956F approval from United States Citizenship and Immigration Services (USCIS). This crucial milestone signifies that the business plan meets the government’s review of its economic viability and job creation potential and removes concern about project issues for investors seeking I-526E approval and a conditional green card under the EB-5 Immigrant Investor Program. 

The I-956F project filing, under the new EB-5 Reform and Integrity Act rules, was made on February 27, 2023. It took 353 days for the USCIS team to review and approve the HALL Thompson Palm Springs project filing. 

The Project

Located in downtown Palm Springs, California, the Thompson Palm Springs Hotel will be a full-service luxury resort hotel, including 36,800 square feet of upscale boutique and restaurant retail space called The Shops at Palm Canyon. The project is projected to create 1,386.9 jobs, which is over 15 jobs per investor, and will include nearly 50% direct jobs, exceeding the 10% requirement. 

Why is I-956F Approval Important?

This I-956F approval is an important step for investors entering the EB-5 programs pathway to obtaining permanent US residency. The reasons are: 

  • Validation. USCIS approval confirms that Thompson Palm Springs meets the EB-5 program’s rigorous economic and job creation criteria. This reduces risk for investors and assures them that the project’s viability will not be an issue when they submit their personal application for immigration approval.
  • Eligibility. With I-956F approval, the project becomes formally eligible to receive EB-5 investment. A project can take investment before approval, and most high-quality projects provide guarantees to return investors’ capital if the project application is denied, but with I-956F approval, this risk that investors’ capital won’t be returned is reduced.
  • Increased investor confidence. Approval bolsters investor confidence and trust in the projects viability, potentially attracting more participants and expediting the fundraising process.

Why Thompson Palm Springs Hotel is a Solid EB-5 Project?

Beyond the I-956F approval, several factors make Thompson Palm Springs an attractive investment option: 

  • Strong Market. The Coachella Valley is a booming tourist destination, with Palm Springs experiencing a surge in popularity. This strong market demand translates to the potential for occupancy and revenue generation. 
  • Operated by an established international brand. The Thompson brand was established in 2001 and acquired by Hyatt Hotels in 2019. Thompson Hotels is an award-winning, luxury boutique lifestyle hospitality brand.
  • Experienced developer. HALL Group is a privately held diversified investment firm founded in 1968 by Craig Hall. Since its founding, HALL Group has owned, operated, financed, and developed well over $10 billion in office, hotel, and residential real estate projects.

Conclusion:

The I-956F approval for Thompson Palm Springs marks a significant step forward for the project and opens doors for potential EB-5 investors. With its strong market potential, experienced developer, and unique concept, Thompson Palm Springs presents a compelling opportunity for those seeking a path to US permanent residency through investment. 

Access more information on the project landing page

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