Chinese Investor

New York Ferris Wheel Being Built with EB-5 Investor Funds

Betting on the New York Ferris Wheel to Elevate Staten Island’s Fortunes

...With so many moving parts, the wheel still presents many hurdles for developers. But Rich Marin, president and chief executive of the New York Wheel, said financing is not one of them.

His company is close to raising the full $500 million it will need to build the wheel along with a terminal building and parking garage, he said. Nearly one-third of that sum, $150 million, has been collected from 300 Chinese families that invested with the hope of receiving visas through a program run by the federal immigration service.