San Francisco, May 21, 2018 – San Francisco-based EB-5 regional center Golden Gate Global has been awarded the inaugural Public-Private Partnership of the Year award by EB-5 industry trade group Invest In the USA (IIUSA). The accolade was one of 11 awards presented at the first-ever IIUSA EB-5 Industry Achievement Awards ceremony on April 22.
The Public-Private Partnership of the Year award recognizes a project that exemplifies the public-private model’s unique ability to “grow local economies with creative and effective financing.”
This year’s award honored Golden Gate Global’s projects at the San Francisco Shipyard, Lennar Corporation’s massive redevelopment of the former Hunters Point Naval Shipyard. In a partnership between Lennar and the City of San Francisco, the project is poised to revitalize the community with thousands of units of affordable housing, hundreds of acres of parks and open space and millions of square feet of job-generating retail space.
Since 2011, Golden Gate Global has raised a total of over $400 million in EB-5 funding for the San Francisco Shipyard development across seven funds; the company’s most recent raise – a $139.5 million fund for the Candlestick community at the Shipyard – closed in March.
“We are honored to be recognized for our work with Lennar, the City of San Francisco, and the San Francisco Shipyard,” said Golden Gate Global CEO Steven Kay. “We congratulate all our fellow IIUSA award winners – culled from a strong slate of worthy nominees – and we look forward to achieving further EB-5 successes in the future.”