Well, no great surprise here: due mostly to an influx of Chinese investors to the U.S., the EB-5 visa program, which grants visas to foreigners investing $500,000 or more in job-creating ventures on American soil, has become a bit too successful, the Wall Street Journal reports. Additional visas will be unavailable to Chinese applicants until October 1st. “Investors from China have accounted for about 85% of the visas this year, so the State Department action brings the program to a near standstill for the time being, experts said. They predict that next fiscal year the visas will be claimed even more quickly,” according to the Journal.
Among entrepreneurial ventures popular with EB-5 beneficiaries are fast food franchises. But the owner of Manhattan’s inaugural Denny’s, Rahul Marwah, hails from (relatively) nearby California. Eater got a look at the place, which opens its doors Friday morning at 5. Anyone for a $300 Grand Slam breakfast, complete with champagne?
Mr. Marwah’s restaurant might be located in Manhattan, but with its exposed brick and pressed-tin ceilings, it’s most certainly drawing on Brooklyn chic. (It was only a matter of time before the look found itself co-opted by fast food.) Still, at the Guardian, one former Coney Island resident takes to task the New York media for over-emphasizing the borough’s most salient trends and inequalities: “there’s a big rift between the affluent professionals piling millions into the brownstone neighborhoods of Carroll Gardens, Park Slope and Brooklyn Heights – and the rest of Brooklyn, a middle-to-working class haven for low pretension and inexpensive food.” Fair enough. But isn’t that kind of the point?
No small portion of that other Brooklyn is home to public housing facilities, the residents of which will no doubt be pleased to hear that Mayor de Blasio plans to remove “thousands of feet of construction scaffolding” from NYCHA facilities across the city in an effort to improve public safety. The city has removed almost two-miles’ worth already, according to the Journal.
For those more grandly-fixed, the Post offers tips on how buying apartments based on floor plans alone can prove profitable. Hint: you re-sell your purchase for more than you paid.
And yet, a (not-entirely-convincing) report at DNAinfo suggests that New York buyers have seen discounts this month for a handful of key reasons: sellers unrealistic about price; an influx of novice brokers; fewer later-summer shoppers; a sluggish top-of-the-market tier.
Speaking of good deals, the too-popular-for-its-own-good Citibike program will bring in “top mathematicians and computer scientists” to address imbalances in stations, the Atlantic reports. (They also manage to compare bike stations to the porridge in Goldilocks; kudos.)
And just for fun, Holly and Allison over at Bowery Boogie venture to the abandoned Staten Island ship graveyard. In their account, we learn, among other things, that “kill,” is actually Dutch for “creek.” Something new every day.