CURRENT PROJECT
Airabella Lake Oconee
- Greensboro, Georgia
- |
- EB-5 Rural Project with Priority Processing
This EB-5 project involves the construction, development, and operation of a 137-acre mixed-use, master-planned resort community located in Greensboro, Georgia. Airabella Lake Oconee is designed according to the town center concept, anchored by a central “village” that integrates shopping, dining, and entertainment with luxury residential and hospitality offerings.
The project is divided into the following components:
- Residential Component: townhomes and single-family residences
- Hospitality Component: a 125-key upscale boutique hotel with the Marriott Tribute Portfolio flag, which will also include executive apartments, managed condominiums, and an executive golf course
- Retail Component: approximately 300,000 square feet of retail, restaurant, office, and medical office space
Project Summary
Location
6130 Lake Oconee Parkway
Developer
Greene Fields LLC, Prasanna, LLC and Red Clay Development Group, LLC
Construction Status
The estimated completion dates are July 2027 for the Residential Component units, October 2028 for the Hospitality Component, and June 2029 for the Retail Component
Estimated Jobs at Completion
22+ Total Jobs per Investor
Total Project Cost
$389.8M
Total EB-5 Capitalization
$80M
Investment Required
$800,000
Structure
Secured Debt
Loan Term
5 years
Why Is Airabella Lake Oconee an Exceptional EB-5 Project?
A USCIS-Approved EB-5 Project
Airabella Lake Oconee qualifies as a rural EB-5 project, enabling EB-5 investors to benefit from priority processing and access to the 20% of visas reserved for investments in rural areas. The project has already received I-956F and I-526E approvals from USCIS.
Growth of Lake Oconee Area, with Strong Demand for Hospitality
Over the past decade, the Lake Oconee region has grown significantly, adding more than 7,400 full-time residents and expanding beyond its traditional base of retirees to attract young professionals, remote workers, and families seeking lifestyle-driven communities. At the same time, the lodging market is anchored by The Ritz-Carlton Reynolds, Lake Oconee, with a limited supply of upscale hospitality businesses and with forthcoming additions concentrated in the mid-scale segment. This combination of sustained residential growth and the current limited stock of upper-tier hospitality establishments offers a compelling opportunity for an integrated, master-planned community. With diverse home offerings, golf and recreational amenities, and curated retail and dining, Airabella Lake Oconee is well positioned to capture demand across both the residential and hospitality segments.
Experienced Team
The developer’s team is led by Vilas Patel, managing principal of Shoora Regional Center. He brings extensive experience in real estate development, hospitality, and financial management. His portfolio includes ownership and development of three Georgia hotel properties, including the AC Hotel Atlanta Airport Gateway and the forthcoming Hotel Airabella, both Marriott properties. In addition to Patel, the developer has assembled a highly experienced, multidisciplinary team with deep expertise in the Georgia and broader Southeast US markets and with established track records across hospitality, residential, and mixed-use developments.
The Enduring Value of Integrated Master-Planned Communities
Master-planned communities (MPCs) have evolved from retiree-focused developments into highly sought-after, multigenerational living environments. Designed under a comprehensive vision, MPCs integrate diverse housing options with shared amenities such as parks, recreation facilities, golf courses, retail, and community programming that foster connection and long-term value. Their thoughtful density and integrated infrastructure can improve cost efficiencies, support housing affordability, and enhance homeowner convenience through shared services. Despite broader market pressures, MPCs remain resilient, benefiting from strong demand, steady appreciation in value, and faster absorption rates, reinforcing their position as a durable and competitive real estate model.
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FAQs
How does the ‘’at risk’ requirement interact with the various ‘’guarantees’’ that LCR Capital negotiates with the developer on the fund level?
The EB-5 Immigrant Investor Program’s “at risk” requirement, mandated by the US Citizenship and Immigration Services (USCIS), ensures investments carry risk without direct guarantees to individual investors. LCR Capital’s fund-level guarantees comply with this rule while enhancing investor protections.
- Fund-Level Guarantees: LCR Capital negotiates guarantees at the EB-5 fund level, not between developers and individual investors. These fund-level protections, such as denial, project completion, or loan repayment guarantees, apply to the investor cohort collectively, maintaining compliance with USCIS regulations.
- No Conflict: The “at risk” requirement applies at the individual investor level, while LCR’s guarantees operate at the macro fund level, ensuring no direct promises are made to individual investors, thus adhering to EB-5 rules.
What are the criteria used to evaluate the I-829 petition?
The US Citizenship and Immigration Services (USCIS) evaluates I-829 petitions based on the following key criteria:
- Creation of at Least 10 Full-Time Jobs
The investor must demonstrate that their investment in the New Commercial Enterprise (NCE) has created or preserved at least 10 full-time jobs (minimum 35 hours per week) for qualifying US workers, excluding the investor and their family. For direct investments, this requires evidence such as payroll records or tax documents. For regional center investments, an economic impact report, typically provided by the regional center to the investor and their attorney, may be used to verify direct, indirect, or induced job creation. - Sustained Investment
The investor must prove that the required investment ($1,050,000 or $800,000 in a Targeted Employment Area) has been sustained throughout the two-year conditional residency period and remains “at risk.” This includes providing financial records, business documents, or other evidence showing the investment was maintained and not withdrawn. - Compliance with Physical Presence Requirements
The investor must show they have not abandoned US residency. While there is no strict 183-consecutive-day rule, extended absences from the US (typically over six months) may raise concerns about residency intent unless justified, such as with a re-entry permit obtained from USCIS prior to departure.
What are the reasons why a petition may be denied? Would the capital invested be returned?
I-526 Petition Denial Reasons: An I-526 petition may be denied for the following reasons:
- Inadequate Source of Funds Documentation
USCIS may deny the petition if the investor fails to provide complete and transparent documentation proving the lawful source of the invested capital, such as a clear paper trail from sources like salary, property sales, or gifts to the New Commercial Enterprise (NCE). - Non-Compliant EB-5 Project
The petition may be denied if the project does not meet EB-5 program requirements, such as lacking a valid I-956F approval for regional center projects, failing to qualify as an NCE, or not demonstrating the creation or preservation of 10 full-time jobs.
Working with a reputable regional center and experienced immigration attorney is crucial to ensure compliance with USCIS requirements for both the source of funds and project structure. In the event of an I-526 denial, industry best practices typically include provisions in the project’s Private Placement Memorandum (PPM) for returning the investor’s capital, often within 90 to 180 days, depending on the project’s escrow agreement.
I-829 Petition Denial Reasons: An I-829 petition may be denied for the following reasons:
- Failure to Create or Sustain Required Jobs
The petition may be denied if the NCE does not create or preserve at least 10 full-time jobs (minimum 35 hours per week) for qualifying US workers, as evidenced by payroll records or economic reports for regional center projects. - Failure to Maintain US Residency
The investor must demonstrate they have not abandoned US residency during the two-year conditional residency period. Extended absences (typically over six months) without a re-entry permit may lead to denial, as USCIS evaluates residency intent.
Capital Return After Denial: For an I-526 denial, the return of capital is governed by the project’s PPM, which typically outlines refund procedures, with funds often returned within 90 to 180 days, depending on escrow terms. For an I-829 denial, investors may request capital return after the conditional residency period, as the investment is no longer required to remain “at risk” post-I-829 filing. However, the timing and feasibility of the return depend on the project’s structure and loan repayment terms outlined in the PPM. A denial at the I-829 stage does not typically require a separate request for capital return if already initiated.
After my I-526 petition approval, may members of my family have their consulate interview in different countries?
US Citizenship and Immigration Services (USCIS) permits EB-5 family members to attend consular interviews in different countries. Typically, interviews are held in the country of origin or where family members have current ties. However, a family member, such as a student studying in the US, may apply for adjustment of status at a USCIS district office instead of returning to their country of origin for consular processing.
It is recommended that family members attend their consular interviews together in the same country to ensure smoother and faster processing for all involved.
What is a Follow-to-Join petition?
The Follow-to-Join benefit allows the spouse and unmarried children under age 21 of a lawful permanent resident (Green Card holder) to obtain immigrant visas and Green Cards without filing separate immigrant petitions for each dependent. This benefit applies only if the familial relationship (spouse or child) existed when the principal applicant was granted lawful permanent resident status and if the principal’s Green Card was obtained through a preference-based visa category, such as the EB-5 program. Eligible dependents can apply for immigrant visas at a US embassy or consulate abroad or, already in the US, adjust their status through US Citizenship and Immigration Services (USCIS).