Hilton Garden Inn – El Monte, CA

 

CURRENT EB-5 PROJECT

FROM CALIFORNIA GOLDEN FUND: Hilton Garden Inn – El Monte, CA
EL MONTE / CALIFORNIA/ USA

Investor documents are available please request at: elmontehotel@californiagoldenfund.com

PROJECT DESCRIPTION

Project: The California Regional Center plans to develop and operate a Hilton Garden Inn hotel with ancillary features located at 9920 Valley Blvd., El Monte, CA  91731, which is in Los Angeles County.  The Building will contain three restaurants with a  total of 8,900 square feet, a gift shop with 1,000 square feet, a travel and tourist office with 1,600 square feet, and a conference center and banquet room with a total of 6,000 square feet.  The hotel, restaurants, and other activities will all be owner-operated, so tenant occupancy issues will not arise for those activities.

Address: 9920 Valley Blvd
El Monte, CA 91371

Designated Targeted Employment Area (TEA)

PROJECT HIGHLIGHTS

  • The total development budget is $32.4 million, of which hard construction costs are $14.77 million, architectural and engineering costs (A&E) are $1.7 million, and purchases of FF&E (indirect and induced jobs only) are $4.0 million; the remaining expenses of $11.93 million, most of which are land costs, are not EB-5 eligible.
  • The project is expected to take more than two years to complete, so direct as well as indirect and induced jobs can be counted.
  • The hotel will have 152 rooms, with an ADR of $129 and an occupancy rate of 70% in the first year of occupancy.  Based on the cost of construction and ADR, the hotel is expected to be an economy hotel
  • The restaurants, which will also be owned by the developer, are expected to total 8,900 square feet.  They will consist of a Chinese restaurant with 4,000 square feet, a Western restaurant with 3,600 square feet, and a café with 1,300 square feet.
  • Since the City of El Monte has been classified by the State of California as a Targeted Employment Area, 52 EB-5 immigrants could each invest $500,000, hence raising a total of $26 million in EB-5 funds for this project.

 

CONTACT

For all inquiries, please contact: elmontehotel@californiagoldenfund.com


SOUTHERN CALIFORNIA REGIONAL CENTER, LLC. • CALIFORNIA GOLDEN FUND
600 Wilshire Blvd. Suite 500, Los Angeles, CA 90017