CAPE CHARLES, Va. — The new owners of Bay Creek, Michael Schoenfeld and Samuel Silverman, are not just experienced developers, but also lead EB5AN, a company that manages investment opportunities for foreign nationals seeking U.S. residency through the federal EB-5 visa program.
The EB-5 program offers a pathway for foreign investors to obtain lawful permanent residency (Green Cards) for themselves, their spouses, and unmarried children under 21 if they invest in a U.S. commercial enterprise and create or preserve at least 10 full-time jobs for American workers.
Founded in 2013, EB5AN has facilitated more than 2,000 successful EB-5 visa investments, partnering with major developers like Kolter to finance projects ranging from luxury condos to mixed-use communities. The firm manages the investment side of the program, connecting international investors with U.S. development projects that meet federal job creation requirements.
As Schoenfeld and Silverman prepare to take ownership of Bay Creek, their expertise in large-scale development and foreign investment could shape the future of the Cape Charles community. With Bay Creek’s extensive waterfront property and resort amenities, the new owners see an opportunity to attract international interest alongside domestic buyers, potentially using EB-5 funding to accelerate growth.
As the mid-July closing date approaches, more details about their plans for the community and potential international investment opportunities are expected to emerge.
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