In Brief: The Peachtree Group has secured USCIS approval to proceed with its project of developing a Homewood Suites by Hilton in Sugar Mountain, North Carolina.
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Rendering of the Homewood Suites by Hilton Project in Sugar Mountain – Image Credit Peachtree Group
Peachtree Group has received I-956F approval from U.S. Citizenship and Immigration Services for the development of a 116-room Homewood Suites by Hilton in Sugar Mountain, North Carolina.
Peachtree Group has received I-956F approval from U.S. Citizenship and Immigration Services (USCIS) for the development of a 116-room Homewood Suites by Hilton in Sugar Mountain, North Carolina. The project is being funded through a $28 million senior-secured construction loan originated by Peachtree through its EB-5 investment platform.
This marks Peachtree’s sixth project utilizing EB-5 financing, bringing total capitalization across its EB-5 platform to more than $177 million. The Sugar Mountain development qualifies as both a Rural and High Unemployment Targeted Employment Area, supporting EB-5 capital formation through a lower investment threshold. The project is expected to generate approximately 538 eligible EB-5 jobs.
The hotel will be located at the base of Sugar Mountain, near Sugar Mountain Ski Resort, Lees-McRae College, Beech Mountain Ski Resort, Grandfather Mountain State Park, and Appalachian State University. The area features a year-round calendar of events and festivals.
Upon completion, the Homewood Suites by Hilton in Sugar Mountain is expected to be the newest hotel in its competitive set, with most existing properties in the market being older or located farther from key demand drivers.
Peachtree Group launched its EB-5 program in 2023 and continues to expand its platform as demand for alternative capital solutions grows.
