NORFOLK, VA — A little known federal program could soon become a powerful new tool for real estate developers and housing innovators across Virginia. The EB-5 Immigrant Investor Program, administered by the U.S. Citizenship and Immigration Services (USCIS), allows foreign nationals to invest in qualified U.S. projects in exchange for permanent residency and Virginia’s growing housing and development markets may be the next frontier.
What Is the EB-5 Program?
Created by Congress in 1990, the EB-5 program stimulates the U.S. economy through job creation and foreign investment. Investors who contribute $800,000 or more into a qualified project that creates at least 10 full time American jobs can qualify for permanent U.S. residency (a green card).
These projects are typically real estate developments including multifamily housing, mixed-use properties, infrastructure, and hospitality — located in Targeted Employment Areas (TEAs), where investment dollars can have the most impact.
Why Virginia Is Ripe for EB-5 Growth
Virginia offers a unique mix of economic stability, education, and infrastructure that makes it an ideal candidate for EB-5 backed growth. From Northern Virginia’s tech corridor to the Blue Ridge and Tidewater regions, the state’s blend of innovation, tourism, and expanding local economies creates fertile ground for EB-5 capital.
Key advantages include:
Strong demand for workforce and affordable housing in fast growing regions.
University and military driven economies that attract consistent population inflows.
Opportunity Zones and redevelopment corridors eligible for EB-5 alignment.
Local governments actively seeking partnerships to bridge funding gaps in housing and revitalization projects.
Bridging Gaps in Housing & Infrastructure
Programs like EB-5 could help fill critical funding gaps in projects that traditional financing often overlooks such as workforce housing, adaptive reuse of older buildings, and rural revitalization.
In places like Roanoke, Norfolk, and Augusta County, developers are exploring EB-5 as a complementary capital source to accelerate shovel ready projects and expand economic opportunity. By pairing foreign investment with local development expertise, Virginia could unlock a new cycle of sustainable growth.
A Win Win for Investors and Communities
For international investors, EB-5 provides a legal and transparent pathway to U.S. residency while participating in tangible, job creating ventures. For Virginia communities, it means new housing supply, job creation, and revitalized downtowns without overburdening taxpayers.
As one Virginia developer recently noted, “EB-5 is more than capital — it’s partnership capital. It brings global investors into local stories of growth.”
Looking Ahead
With increasing interest from both public and private sectors, the next decade could see EB-5 investment become a cornerstone in Virginia’s housing and economic development strategy. From affordable housing projects in the Shenandoah Valley to coastal revitalization efforts in Hampton Roads, this federal program could help shape the next wave of inclusive growth across the Commonwealth.
Keep reading other bits of knowledge from our team.
Have a question about this article or want to learn more?
