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She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.","imageLarge":"https://secure.gravatar.com/avatar/e3b23d10ab39416004315fba6a3be8b8?s=136&d=mm&r=g","webUrl":"/author/profile/carrie-rossenfeld/"}],"publication":"Globe Street","kicker":"","kickerNode":[],"prettyDate":"June 12, 2012","pubDate":"2012-06-12 10:11:00:000","modifiedDate":"","isDownload":"false","primaryCategory":{"channelName":"","sectionName":"","name":"","uri":"","slug":"","channelUri":""},"tags":[],"image":{"uri":"","width":"","height":"","alt":""},"embed1":"","embed2":"","summary":"ISLAND OF HAWAII, HI-Hawaiian Islands Regional Center and US Citizenship Immigration Services’ EB-5 Immigrant Investor Pilot Program raise $18.5 million in funds from foreign investors for the construction of the 100-bed facility.","categories":[],"allCategories":[{"sectionName":"Capital Markets","channelName":"Globest Topics"},{"sectionName":"Development","channelName":"Globest Topics"},{"sectionName":"","channelName":"GlobeSt Market"},{"sectionName":"","channelName":"Globest Sectors"},{"sectionName":"","channelName":"Globest Topics"},{"sectionName":"Multifamily","channelName":"Globest Sectors"},{"sectionName":"National","channelName":"GlobeSt Market"}],"bodyArray":["<p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">ISLAND OF HAWAII, HI-<strong>Hawaiian Islands Regional Center</strong>, an authorized regional center of the <strong>United States Citizenship and Immigration Services</strong>’ <strong>EB-5 Immigrant Investor Pilot Program</strong> have raised $18.5 million from foreign investors to construct <strong>Regency Care Center, Hilo</strong> here. The objective of the <strong>HIRC</strong> is to raise money from foreign investors for projects that will create new jobs for Americans.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">According to <strong>J David Wallace</strong>, SVP of HIRC, the 100-bed skilled-nursing facility has been in-the-works since 2007, when <strong>Regency Pacific</strong> purchased the property with plans to build the care center. A certificate of need was approved for it, but after the economic recession hit, banks were unwilling to lend for construction, slowing down the progress made. As a result, alternative methods were sought to fund the project, resulting in the partnership of HIRC and the EB-5 program.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">A ceremonial groundbreaking took place recently for the center, attended by <strong>Congressman Jerry Chang</strong>, foreign investors and representatives from Regency Pacific and HIRC.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">The facility’s construction is intended to create 382 direct and indirect jobs for Americans. Through the formation of the <strong>Regency Venture Fund LLP</strong>, the money was lent and the project is underway, scheduled to open at the end of 2013.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">Wallace says HIRC has more projects ahead in Hawaii, and through its sister regional center, <strong>American General Realty Advisors Regional Center</strong> in California, it is looking to expand and fund skilled-nursing facilities and hotels, thereby creating more jobs where they are sorely needed.</p> <p xmlns:i=\"incisive-repository\" xmlns=\"http://www.w3.org/1999/xhtml\">Wallace could not be reached by GlobeSt.com before deadline to discuss the total construction costs for the project or the details of HIRC’s other projects.</p>"],"slides":[],"video":null},"youmightlike":null,"readnext":{"contents":[{"uri":"/2025/07/10/florida-ends-tax-on-commercial-rent-bringing-relief-to-tenants/","title":"Florida Ends Tax on Commercial Rent, Bringing Relief to Tenants","byline":"Anthony Russo","summary":"The removal of the tax will increase the state's competitive advantage and lure more folks to Florida. 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