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Adelanto Says $200M Secured From South Korea For Entertainment Epicenter Funded by EB-5

According to the Victorville Daily Press, November 22, 2017, Adelanto city officials say $200 million in private financing from foreign investors has been secured to construct a massive entertainment hub here, a project that would ultimately become one of the largest inside the city. Backed by PDI Developments Group Ltd., the proposal calls for a hotel, convention center, retail shopping, restaurants and entertainment space, including a museum, on roughly 40 acres. The project is planned near the corner of Air Expressway and Bellflower Street and could be completed by 2020, officials said. NJ Hahn, the project’s principal assisting the city and the investors, cited the burgeoning commercial cannabis industry’s expected ability to grow the city as the impetus for investor attraction and said the project could boast a landmark visible to commuters on busy Highway 395 and offer hospitality to visitors. Hahn, who is overseeing other projects in the city, said he was working with four major asset management companies in South Korea that have already pledged the funds, which will be used for the epicenter, tentatively called “Landmark Synthesis Mall,”. The project will be entirely bankrolled through the EB-5 Immigrant Investor Program, where entrepreneurs and spouses and unmarried children under 21 years old are eligible to apply for permanent residency if they accomplish two particular goals: Invest in a commercial enterprise in this country and plan to create or save 10 full-time jobs for qualified American workers.

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