Cedars Lodge and Spa EB-5 Funding, LLC is raising EB-5 capital to fund the development, construction, and operation of Fairmont Heritage Place - The Cedars, a multi-phase condominium, hotel, and spa in Hendersonville, North Carolina (the "Project").
The Project is located in Hendersonville, North Carolina.
The Project capitalizes on a strong market opportunity in the Hendersonville and Asheville region of North Carolina. With the Asheville Airport located 15 minutes away, the Project offers convenient access to major cities such as New York, Boston, Fort Lauderdale, Dallas, and Las Vegas. The local market demonstrates a growing demand for ultra-luxury, full-service communities, which the Project desires to fulfill by providing exquisite finishes, five-star amenities, and personalized services. There is limited competition due to scarce available land, positioning the Project as one of the largest approved developments in the city. In addition, Hendersonville's favorable cost of living, 6% lower than the national average (source: Cost of Living in Hendersonville, North Carolina), attracts individuals and families seeking a high-quality lifestyle at a more accessible price point. Additionally, North Carolina's population growth, including a significant influx of residents from other states, presents an opportunity for the Project to cater to the rising demand for luxury living options. Overall, the prime location, limited competition, growing demand, favorable cost of living, population trends, and regional appeal pose a strong market opportunity for the Project.
The Project is expected to create 686.2 jobs, resulting in an excess of 486.2 jobs or approximately a 243% job cushion.
The total cost of the Project is $118,522,092. The Project is raising up to $21,000,000 from 20 EB-5 investors through a Private Placement Memorandum dated January 23, 2023.
The Project is sponsored by EB5AN NC and Great Lakes Regional Center, LLC.