Amazon to Build a Major Fulfillment Center on CanAm’s EB-5 Project Site

CanAm Enterprises LLC – CanAm Enterprises (CanAm) is pleased to announce that the web retailer giant Amazon has confirmed that it will open its first major fulfillment center in New York City at the Staten Island Marine Terminal development site, which was funded, in part, by a $50 million EB-5 loan from CanAm. The planned 855,000-square-foot facility will be the second largest logistics warehouse at the Staten Island site. Scheduled to open in 2018, it will employ over 2,200 full-time employees, and will be the single biggest job creator in the borough’s history. This strategic location will help the company cut costs and provide more efficient services to its customers in the New York City area.

CA17 news amazonCanAm raised the $50 million EB-5 loan from foreign investors in 2013 to fund the preparation of a 674-acre tract of vacant land located on the Arthur Kill waterfront in Staten Island to be developed into a marine port facility and logistics center. A majority of the work has been completed. The proceeds of the EB-5 funds are being used to fill and cap a total of 328 acres land; mitigate approximately 68 acres of freshwater wetlands and 20 acres of tidal wetlands, which will require placing a total of 6.4 million cubic yards of fill on the site so that vertical construction can begin. Infrastructure improvements, including installation of underground utilities, road and other above ground improvements are also being completed. The project received exemplar approval from USCIS in August 2013 and to date, 86 investors’ I-526 petitions have been approved. Work to date has resulted in 1,400 EB-5 Program qualifying jobs.

CanAm President and CEO Tom Rosenfeld says Amazon’s choice does not come as a surprise. “When we conducted our due diligence for this project five years ago, we immediately saw its potential for future development.” Rosenfeld comments, “The project’s scale as the largest undeveloped parcel of land in New York City combined with its strategic location with access to road, rail, and ports makes it an ideal location for world-class retailers like Amazon.”

 

 

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