Pharr apartment project approved for federal program linking investment to green cards

A new apartment project in Pharr has received federal approval under a program that allows foreign investors to help fund U.S. developments in exchange for a path to permanent residency.

Developers of Midtown Pharr said U.S. Citizenship and Immigration Services, or USCIS, approved the project under what is known as an I-956F filing. The designation means the project meets federal requirements under the EB-5 Immigrant Investor Program, including how it plans to create jobs.

Midtown Pharr is at least the second project in the Rio Grande Valley to receive this type of federal approval. The Cambria Hotel & Suites project was McAllen EB-5 Regional Center’s first successful EB-5 Project, according to information on the city’s website.

“This milestone validates our technical job creation methodology and provides a proven roadmap for our investors,” Open EB5 CEO Emilio Guzman said about the Pharr project in a social media post. 

The EB-5 program allows foreign nationals to invest in U.S. projects — typically at least $800,000 in designated areas — and apply for a green card if those investments lead to job creation. While the project has been approved, individual investors must still go through their own separate federal review.

Developers said Midtown Pharr is fully funded and currently under construction.

What the approval means

I-956F approval does not guarantee immigration status for investors. Instead, it confirms that the project has been reviewed by USCIS and qualifies to receive EB-5 investment.

For developers, that designation allows them to market the project to international investors looking to participate in the program. That structure effectively turns foreign investment tied to immigration benefits into a source of project financing.

Second project planned in Brownsville

Following the Pharr project, the same group is promoting a second development in Brownsville.

Midtown Brownsville II is planned as a 168-unit apartment complex on about seven acres. According to project materials, the site is located near the Port of Brownsville and SpaceX facilities — areas developers say are driving demand for housing.

The project is located in a Targeted Employment Area, or TEA. That federal designation allows investors to qualify for the lower EB-5 investment threshold.

Developers are also highlighting a provision known as concurrent filing. Under that process, some applicants may be able to apply for work authorization and travel permissions while their green card application is pending, depending on their individual circumstances.

Why it matters locally

Projects like Midtown Pharr and Midtown Brownsville II show how developers are using federal immigration programs as a financing tool.

Instead of relying only on traditional loans or local investors, EB-5 allows projects to attract capital from outside the country. In return, investors receive a potential immigration benefit tied to job creation.

In the Rio Grande Valley, that approach is being applied to housing developments tied to broader economic growth, including activity around the Port of Brownsville and SpaceX.

It also signals a shift in how projects in the region may be financed — bringing in foreign capital tied to federal immigration policy rather than relying solely on traditional lending or local investment.

Editor’s note: This story has been corrected to reflect that there have been previous EB-5 projects in the Rio Grande Valley.