When Homer Williams and his development team broke ground earlier this month on the Pearl District's first hotel, the event was noteworthy for another significant reason. The $49 million Residence Inn by Marriott is the first Oregon construction project funded by foreigners through the federal government's EB-5 immigrant investor program. The federal job-creation effort rewards investors who generate jobs in the US with green cards. Williams is the first and apparently only developer to successfully raise construction capital via the EB-5 program in Oregon to date.
By Wendy Culverwell, Portland Business Journal Staff Writer