CHULA VISTA, SAN DIEGO, CA
-
HomeFed has been developing award-winning master-planned communities for over 30 years.
-
Largest owner of residential land in San Diego County.
-
Public company with a strong balance sheet, conservative approach, and low leverage.
-
Wholly owned by Jefferies Financial Group, a diversified investment company traded on the New York Stock Exchange (symbol JEF), with a market cap in excess of 9 billion.
-
HomeFed's sister company Jefferies Group LLC is the 9th largest investment bank in the world by revenue.
PROJECT SUMMARY
Project Developer
HomeFed Corporation
Regional Center
Discovery California, LLC
JCE
HomeFed Village 8, LLC / A wholly owned
subsidiary of HomeFed
Total Project Costs
$909,628,660
EB-5 Funds
$171,000,000 (19%)
Loan Term
5 years (with 83-month extension options)
Interest
0.25% (0.75% upon extension)
Number of Investors
268
Job Creation Needed
2,680
Total Job Creation
4,038
Collateral
1st Trust Deed to Additional Development Land
●Located in the City of Chula Vista - 15 miles from Downtown San Diego.
●More homes sold than any other master-planned community in San Diego.
●22,899-acres - One of the largest master-planned communities in the United States
●Approximately 30,000 homes, supporting service, retail and community amenities in 11 development areas.
●Otay Ranch is approximately half complete.
●Côta Vera is the newest community within the larger Otay Ranch master-plan.
SURPLUS JOB CREATION
-
100% of the jobs created are direct construction jobs which are not dependent on on-going business. This cushion offers investors a 51% job surplus.
-
Each investor is expected to receive credit for creation of 15 jobs, well surpassing the employment conditions for a green card approved by USCIS.
-
Based on construction activities and expenditures form Oct 2018 through Jul 2024.
