Fulton SCG II Debt Fund will make an investment in the Project (named "Tangram") located in the heart of Downtown Flushing, New York City. Tangram will be on a 3.26 acres parcel of land and will be comprised of approximately 1.25 million gross square foot (approximately 125,000 square meter) mixed-use development upon completion. The Project is being developed by F & T Group and SCG Group, and will be a mixed-use complex developed in two phases; the First Phase will be comprised of a large retail complex, underground parking garage, community facilities and two high end residential towers and an office tower; the Second Phase will have a life-style/boutique hotel.
Fee ownership of the project site has been secured for the project development and is fully controlled by the Developer.
The project has qualified for the 421-a Tax Incentive program sponsored by the government which can significantly reduce the property tax burden on purchasers.
In comparison with others, our project developers are committed to investing a significant amount of equity in this project.
The Project is already under construction and work is progressing smoothly according to plan.
The Project is located in the heart of Downtown Flushing which offers a variety of amenities to suit the communities.
The Project is located next to One Fulton Square. Both projects can jointly create a large scale complex for high-end living, shopping / entertainment and lifestyle retail.
One Fulton Square Project was developed by F&T Group and SCG Group to which $20 million of EB-5 funds have been contributed to. I-526 petitions associated with the project have been successfully approved...
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