A 'China City of America' under consideration for New York
The controversial project has been called both a "Chinese Disneyland" and a "stalking horse" for the Beijing government
New York City’s Chinatown may soon have a larger cousin – a massive, 600 acre “China City of America” cousin, that is.
Currently in proposed development, China City is the brainchild of investors led by Sherry Li, a businesswoman from Long Island who has described the project as a “Chinese Disneyland concept”.
Estimated at costing at least six billion US dollars (HK$ 8 billion), the project is targeting foreign investors, particularly those from China.
Li and her team plan to attract potential backers by utilising the EB-5 for Immigrant Investors federal visa programme, which grants wealthy foreign investors the chance to receive a US Green Card if they invest half a million dollars into a business venture in a rural or underdeveloped area.
The project is currently only under consideration and will need to secure federal approval and pass through various permits before any construction can commence.