MSSM raised $21,000,000 from 42 EB-5 investors as part of project that will ultimately approach $80,000,000 on the campus of Mississippi State University in Starkville, Mississippi. This project includes the construction of a Courtyard by Marriott hotel; the rehabilitation of the Cooley Center, which is listed on the National Register of Historic Places; constructing a 450 space parking structure that is desperately needed on campus; and, developing two outparcels of vacant land into one high-end steakhouse restaurant and one strip mall featuring a fast casual dining restaurant.
Funding sources for this project include traditional bank debt, EB-5 investor funds, and developer equity, while it also takes advantage of historic tax credits, new markets tax credits, and a community development block grant. The other partners in this development are that same as in the MHG, LP project – Peachtree Hotel Group and Castle Properties.
Investors began receiving I-526 approvals in November 2014.
This project is already well-underway and some images are below. In March 2014, fnancing closed and there was a groundbreaking ceremony that was attended by U.S. Senator Thad Cochran and U.S. Congressman Alan Nunnelee, who has also written to the USICS to tell them about his strong support for MSSM and this project.