Currahee Club: A Compelling Rural EB-5 Project

The Currahee Club EB-5 project is a master-planned residential golf community in Toccoa, Georgia. The project includes the development and sale of residential land lots, spec homes, condominiums, and duplex townhomes.

The community’s golf course is an award-winning 18-hole course designed by renowned course architect Jim Fazio. Other amenities include a clubhouse, a sports campus, dining venues, and guest accommodations. Set in the Appalachian Mountains, the project enjoys lake access, mountain views, and a 1.5-mile nature trail. Amenities are managed by Troon Privé, the world’s largest golf club management company.

Additional amenities—such as a hotel, an event center, and a boat dock—are planned.

In this article, we discuss why Currahee Club’s features make it one of the most compelling rural EB-5 projects available today.

Overview of the Currahee Club EB-5 Loan Project

Secured Loan Structure: The Currahee Club EB-5 investment is structured as a secured senior loan. The loan is secured by two pledges of 100% of membership interests and a first-priority security deed on portions of the property.

Individual Four-Year Loan Term: Currahee Club features a four-year loan term. Also, each EB-5 investor has his or her own loan term that is independent from that of any other EB-5 investor. The borrower may extend the loan one time for one-year. The overall term of the loan aligns well with USCIS sustainment period requirements.

Rural TEA Designation: Currahee Club is in a rural targeted employment area (TEA). By investing in a rural TEA project, EB-5 investors are able to invest at the lower minimum amount of $800,000 instead of the non-TEA amount of $1,050,000. They also receive priority I-526E petition processing and gain access to rural set-aside visas, which make up 20% of all EB-5 visas.

Prime Location: The project is in Toccoa, Georgia, nestled in the Appalachian Mountains with mountain views and lake access. The project is ideally located in rural area about 40 minutes from Greenville, South Carolina, and two hours from Atlanta, Georgia.

Proven Sales and Market Demand: The community has been under development for several years, with prior sales of 207 residential land lots.

Significant Job Creation: The project is expected to generate 1,651.9 EB-5 eligible jobs from development and operations. This is well above what is needed for each EB-5 investor to qualify for a Green Card.

I-526E Approval Refund Guaranty: If an EB-5 investor’s Form I-526E is denied by USCIS, his or her $800,000 investment will be refunded within a defined period, subject to the terms of the guaranty.

Job Creation Guaranty: The borrower has guaranteed that 100% of EB-5 funds will be used for qualified project costs and that the project will create at least 10 jobs per EB-5 investor.

Third-Party Fund Administration: PRXY Fund Services will serve as the fund administrator for Currahee Club. Third-party fund administration is vital for compliance with EB-5 rules. It also adds a layer of security and transparency for EB-5 investors. PRXY’s proprietary platform tracks and records all EB-5 draws and spending through the life of the project.

With these features, Currahee Club is a best-in-class rural EB-5 project that stands out in the market today. While Currahee Club offers exceptional features, EB-5 investors must still consider the inherent risks of the EB-5 program itself. The next section explains how to evaluate and manage these general risks.

Understanding Financial Risk for EB-5 Investors

EB-5 investors must make at-risk investments to qualify for their Green Cards. Under EB-5 program rules, for an investment to be considered “at risk,” the full $800,000 must be subject to gain or loss. This at-risk requirement means that no EB-5 investment can be entirely risk free.

While the EB-5 program does require some risk, the level of risk to EB-5 investors does not have to be high. Unfortunately, many EB-5 projects are riskier than they have to be, and what is worse is that many of their EB-5 investors do not know it.

To make informed investment choices, investors must understand the risks associated with any EB-5 investment. They should also be aware of the risks related to the specific projects they choose.

Most EB-5 projects lack basic financial protections, increasing the risk of loss for EB-5 investors. When EB-5 investors invest in projects with more financial risk, they are more likely to lose their funds and have their immigrant petitions denied by USCIS.

Some projects have developer equity but plan to use EB-5 funds to replace this equity. When this is the case, the developer is passing its risk on to the EB-5 investors. Projects that allow developer equity to be replaced with EB-5 funds should generally be avoided.

To avoid riskier projects, EB-5 investors must do their own research, including by evaluating the track record of both the developer and the regional center sponsor. Even though the EB-5 program requires projects to transparently disclose risks, most EB-5 regional centers and projects do not see transparency as a fundamental EB-5 investor right. As a result, many in the industry share the least information possible—and only when required to do so.

Each EB-5 project has its own risk profile. EB-5 investors should conduct careful research before they invest and weigh the risks before making decisions. By understanding the risks and asking good questions, EB-5 investors can make informed decisions in line with their financial and immigration goals.

Understanding the EB-5 Rural TEA Designation

What Is a Rural TEA?

A TEA is an area that either is rural or has a high unemployment rate. A rural TEA is an area that is outside of a metropolitan statistical area and outside of a city with a population of 20,000 or more.

Benefits of Choosing a Project in a Rural TEA

EB-5 projects in rural TEAs offer EB-5 investors several key benefits.

Reduced Investment Amount: The standard amount for an EB-5 investment is $1,050,000. Investments in TEA projects, however, qualify at a lower investment threshold of $800,000.

Access to Set-Aside EB-5 Visas: Investing in a rural TEA project qualifies EB-5 investors for set-aside EB-5 visas. Under the EB-5 Reform and Integrity Act of 2022, 32% of all annual EB-5 visas are reserved. Of these, 20% are reserved for rural TEA investors. Set-aside visas are not currently affected by backlogs (known as visa retrogression), which is a key issue for investors from countries with high demand for EB-5 visas like China and India. Without visa backlogs, rural EB-5 investors often experience shorter wait times and can immigrate to the United States more quickly compared to those seeking unreserved visas.

Priority Processing for Form I-526E: EB-5 investors in rural TEA projects qualify for priority processing of Form I-526E. This means USCIS processes the I-526E petitions of rural EB-5 investors ahead of others. As a result, many rural EB-5 investors have their petitions processed in months rather than years.

Evaluating Rural EB-5 Projects

new rules for reporting and compliance. Because USCIS has not yet provided guidance on all of these changes, EB-5 investors should look for projects sponsored by regional centers that have experience navigating changes to the EB-5 program. EB-5 investors face higher risk when they invest in projects sponsored by inexperienced or poorly managed regional centers, as these sponsors may not be able to respond quickly to any changes in the program.

Evaluating the Currahee Club EB-5 Project Is Easy

EB5AN makes it easy for EB-5 investors to research the Currahee Club EB-5 project. We give potential investors full access to the project’s financial documents. And we encourage investors to visit the site to observe construction progress and operation. The regional center team is happy to answer any questions a prospective EB-5 investor may have.

Currahee Club Is a Best-in-Class Rural EB-5 Project

Currahee Club is a compelling rural EB-5 project. It has a host of best-in-class features that help reduce the risks faced by EB-5 investors. With a short target investment period and rural TEA benefits, Currahee Club distinguishes itself as one of the most attractive low-risk EB-5 opportunities available today.

Secured Loan Structure and Collateral

The Currahee Club EB-5 investment is structured as a secured senior loan. The loan is backed by two pledges of 100% membership interests and a first-priority security deed on portions of the property.

Individual Four-Year Loan Term

The project’s loan is split into a tranche for each EB-5 investor. Each tranche has its own term of four years, independent from the terms of all other investors’ tranches. Not only is a four-year term shorter than typical, but loans with individual terms are rare in the EB-5 space.

The loan also includes a single one-year extension option available at the borrower’s election. This structure is shorter than many rural EB-5 loan terms, which often range from five to seven years and include multiple extensions.

Rural TEA Designation

Currahee Club is located in a rural TEA. This designation allows EB-5 investors to qualify at the lower $800,000 investment level instead of the standard $1,050,000. Investors in rural TEA projects also benefit from priority processing of their I-526E petitions and access to the 20% rural set-aside visa category.

Significant EB-5 Job Creation

A key EB-5 program requirement is that each EB-5 investment must create at least 10 qualifying jobs for U.S. workers. Because Currahee Club is a regional center project, it can count both direct and indirect jobs created through spending on construction.

To support up to 88 EB-5 investors, the project must create at least 880 jobs. When completed, the project is expected to generate 1,651.9 EB-5–eligible jobs, which is 18.8 jobs per investor and well above the requirement.

A Regional Center With a Proven Record

EB5AN is the regional center sponsor for Currahee Club. EB5AN has facilitated over $1.0 billion in EB-5 investment, supporting projects with total development costs exceeding $7.7 billion.

Over the past decade, EB5AN has helped more than 2,700 immigrant families from over 70 countries and regions relocate to the United States through its low-risk, high-quality EB-5 investment offerings. All adjudicated regional center–sponsored projects offered by EB5AN have been approved by USCIS.

I-526E Approval Refund Guaranty

If an EB-5 investor’s I-526E petition is denied by USCIS, his or her $800,000 will be refunded within a defined period, subject to the terms of the guaranty.

Job Creation Guaranty

The borrower has guaranteed that 100% of EB-5 funds will be used for qualified project costs and that the project will create at least 10 jobs per EB-5 investor. This assurance strengthens job creation reliability and reduces the risk of petition denial due to job shortfall.

Currahee Club: A Unique, Low-Risk Rural EB-5 Project

While no EB-5 investment can be completely risk free, Currahee Club gets as close as possible. This project has been structured with investor protections and independent oversight at its core. While risk is inherent in the EB-5 program, EB-5 projects do not have to carry high levels of risk.

Currahee Club offers a compelling set of safeguards: loan security, job creation and I-526E approval refund guaranties, rural TEA benefits, and experienced project management. These features are designed to reduce risk and increase the likelihood of both immigration and financial success.

For more information on the Currahee Club rural EB-5 project or to explore additional EB-5 investment opportunities, please schedule a one-on-one call with EB5AN.