Multiple addiction treatment centers for the treatment of patients suffering from mental health and substance use disorders
Investment Amount: $800,000 – TEA QUALIFIED
We have launched multiple EB-5 projects that have been granted expedited processing by USCIS due to the urgent humanitarian crisis that our projects are serving: addiction and mental health treatment. It is no secret that the U.S. is deeply mired in an addiction epidemic made worse by the Covid-19 pandemic.
For EB-5 investors, this means waiting a few months (compared to a few years for non-expedited projects) for USCIS to approve the investor’s I-526 petition, the first key step in the two-part process for earning a conditional green card.
AVAILABLE EXPEDITED EB-5 PROJECTS
$800,000 investment for TEA (Targeted Employment Area) projects
Solid business plan – huge demand for addiction treatment with limited supply of services
Potential for expedited processing
The East Ohio Regional Hospital (aka East Ohio Hospital) located at 90 N. 4th Street in Martins Ferry, Ohio first opened in 1906. However in 2019 the owner-operator at the time was unable to run it profitably resulting in the facility having to shut down. Fortunately for the region, the hospital was purchased by a new operator, Hospital Innovations LLC (the new commercial enterprise, or “NCE”), which is controlled by Dr. John Johnson, and reopened in March 2021, once again treating patients from counties in Ohio and neighboring West Virginia.
Hospital is fully operational
New Behavior Health unit will serve addiction patients
Hospital is fully financed with funding from State of Ohio and developer Bridge fund (EB-5 will replace Bridge funds)
Previous EB-5 investors have been granted expedited processing
Job creation requirement already achieved – 23 jobs per investor
At least $9 million developer equity subordinate to EB-5
The Wise Path Recovery Center - Westover project involves the development of an addiction treatment center located at 900 Fairmont Road in Morgantown, West Virginia. The 9,984 square foot facility will provide six beds for detoxification in addition to 24 beds for residential recovery. It is scheduled to open late-2022. Renovations were recently completed and the facility is now undergoing the licensure and certification process which takes several months. The economic report estimates the creation of 100 EB5-qualified jobs, equal to 12.5 jobs created for each of the 8 EB-5 investors.
Expedite approval, an option for EB-5 investors to consider
The EB-5 investment program has been a reliable way to get U.S. permanent resident status for investors and their immediate family members. While the process may take time, there is a faster option. EB-5 investments considered to be in the national interest and other criteria can get expedited approval by the U.S. Citizenship and Immigration Services. Expedited approval is the fastest EB-5 processing an investor can obtain.
“An expedite has the potential to save investors years off the adjudication time of their I-526 petitions. When an investor receives an expedite, they literally are supposed to go to the front of the line,” says Matt Gordon, Chief Executive Officer, E3iG.
SOLD OUT - Treatment Centers Started by Doug Leech and Steve Smith
The Cheat Road Outpatient Clinic is located at 2195 Cheat Road, Morgantown, West Virginia. The outpatient clinic will open late-2022 and will occupy 9,100 square feet in a 14,100 square foot building.
The Mt. Morris Recovery Center is located at 145 School Road, Mt. Morris, Pennsylvania. The building is 14,600 square feet and will be renovated into a short-term (30-day) residential treatment center for approximately 60 guests. Mt. Morris is scheduled to open early 2023.
The 4-H Camp Road Recovery Center is located at 3313 4-H Camp Road in Morgantown, West Virginia, and involves the acquisition and renovation of a 6,684 square foot building. Additional space will be built to allow the facility to serve 50 guests in the Summer of 2023.
The Charleston Recovery Center is currently a vacant medical office building that will be renovated
to accommodate spaces for individual therapy, group therapy and administrative offices. The address is 4701 MacCorkle Ave. S.E., Charleston, West Virginia.
The kathy ireland®Recovery Center - Laconia is located at 745 Main Street in Laconia, New Hampshire. Laconia opened in September 2021. Please visit www.kathyirelandrecoverycenters.com.
kathy ireland®Recovery Centers - Laconia - GRAND OPENING
The kathy ireland®Recovery Center - Williamson will be located at 859 Alderson Street, Williamson, West Virginia, on the third floor of the Williamson Memorial Hospital which was established in 1918.
The 15,000 square foot third floor will be renovated to provide space for 10 detoxification beds, 10 female residential beds, and 26 male residential beds. Other renovation work will include constructing group counseling rooms and employee office space, installing controlled access for privacy/safety, and updating the interior design (flooring, walls, and color palette) to create a “homelike” setting for clients.
WHY ADDICTION TREATMENT CENTERS?
Millions suffer from mental health and SUDs – in 2019 over 20 million people in the U.S. suffered from a SUD during the past year. Drug overdose deaths are now the leading cause of death in the U.S. The U.S. government at all levels recognize this as a national crisis. See President Joe Biden’s opioid plan at https://joebiden.com/opioidcrisis. While demand for treatment has skyrocketed, the supply of available services has not kept pace.
Multiple addiction treatment centers (ATCs) to be located across the U.S. with the first two located in Laconia, New Hampshire and Williamson, West Virginia.
Steve Smith of EB5 Coast To Coast (www.eb5coasttocoast.com) and Doug Leech of Ascension Recovery Services (www.ascensionrs.com) have teamed up to address this national crisis by starting a venture that will open multiple addiction treatment centers, starting in Doug’s home state of West Virginia.
The operator of each addiction treatment center (ATC) will be Ascension Recovery Services which is a leading national developer of behavioral health programs and one of the most sought-after Management Services Organizations (MSO) in the operation of ATCs. It has extensive experience developing and managing programs across the country, working with state and federal government, hospitals, and large health care systems; and has helped develop dozens of treatment programs in over 23 states since 2015.