Idea Foundry owns and operates the Pittsburgh Regional Investment Center, a USCIS-approved regional center established in 2011 and focused on job growth and investment within the Pittsburgh region. The PRIC is strategically located within 500 miles of nearly half of the U.S./Canadian buying power and income. Specializing in projects that include one to 100 investors, the PRIC can be as involved as needed -- from facilitating projects to managing them -- to achieve maximum impact in a part of the U.S. that has been recognized as America's Most Livable City (Forbes Magazine, Economist Intelligence Unit) as well as one of the Safe Havens in Real Estate (Kiplinger Magazine).
Embracing those brilliant investors and ideas flowing from 36 colleges and universities including Carnegie Mellon and the University of Pittsburgh, this program will assist international students who want to start their own business to accomplish their entrepreneurial dream.
As a federally approved EB-5 Regional Center, PRIC only brings safe and stable projects to investors. PRIC is currently targeting investment projects in the following areas:
In addition to the large-scale development projects discussed below, PRIC can develop smaller projects around your interests. If you are an investor who is interested in investing in a certain type of business, we can probably create a funding project to fit your interest.
There have been significant changes to the EB-5 program enacted in November 2019. Please contact us for more information or to discuss options: email@example.com.
The Newbury Complex is a multi-phase residential and retail building project located in South Fayette Township, one of the fastest-growing municipalities in western Pennsylvania. The complex has attracted many national retailers, most recently TopGolf, a tech-based golf entertainment center. UPMC also has plans to build a medical facility within the Newbury Complex. Construction on the Newbury project’s residential section was completed in 2008 and the commercial section continues to develop as new retailers purchase in-demand property within the complex.
The Pittsburgh Regional Investment Center manages an EB-5 investment opportunity for the complex, with plans to generate $31 million from investors. The EB-5 loans close on an individual phase basis and are put to work immediately upon closing. This multi-phase approach has allowed the development on the site to flourish.
The other partners involved in the Newbury Development include EQA Landmark Communities, a Pittsburgh-based mixed-use community development team, who led the Newbury Development Associates partnership to purchase and develop the site in 2007, as well as Thistle Financial Group, LLC, a senior lender in the development.