Harbor Village at Harbor Shores

Benton Harbor, Michigan

Project Overview

Harbor Village is a central component of the Harbor Shores project, a mixed-use development on the shore of Lake Michigan in Benton Harbor, Michigan, approximately 90 miles east of Chicago. The project consists of a waterfront hotel, marina and residential condominiums.

Nysa EB-5 was asked to assist with providing EB-5 funding in December 2012. We recommended a Chinese agency in Hong Kong to handle the Chinese marketing effort and our Nysa EB-5 office in India oversaw the Indian marketing effort. The project went to market in April 2013 and was fully funded, and opened for business, in May 2014. Investor repayment expected at five years.

• Investor Units = 36
• I-526 Approval = 35
• Pending = 1
• As of summer 2016, applicants are entering the I-829 stage, with approval expected early 2017.

Key Facts

• Development: Hotel, marina, spa and restaurant
• Developer: Edgewater Resources, LLC
• Project Cost: $27.2 million
• EB-5 Investment: $18 million (fully funded/oversubscribed)
• Regional Center: International Michigan Investments
• Project Job Creation: 487 direct and indirect jobs
• Job Cushion: 33%
• Targeted Employment Area (TEA): Berrien County, Michigan

Project Components

• 120-room, full-service leisure/business hotel
• The Inn at Harbor Shore Residences
• 48 Lake Michigan condominium suites on floors seven and eight of The Inn
• 80 slip marina at Harbor Shores
• Harbor House Condominium
• ShipWatch, luxury condominium residences
• Harbor Village Cottages, 62 sites for custom-designed individual cottages