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EB-5 Project CategoryRURAL- priority processing- Regional Center EB-5 Project -
Project DeveloperVision, Inc. -
Regional CenterSmith Great Lakes Regional Center, LLC -
New Commercial Enterprise (NCE)SP Ashland EB-5 Fund, LLC -
NCE Management TeamSol Pacific-affiliated leadership & EB5 Lending Alliance
Bay Vue Apartments Project:
About Bay Vue Apartments Project
Bay Vue Apartments is a planned 151-unit multifamily residential development in Ashland, Wisconsin. The project is designed as a four-story apartment community intended to help address demand for newer rental housing in the local market.
The project is located in a Rural Targeted Employment Area (TEA) and currently qualifies for the lower EB-5 investment threshold of $800,000, subject to program requirements.
Construction of the Project officially began on December 15, 2025, with initial mobilization and the installation of temporary facilities, including site fencing, to facilitate ongoing development.
Project Overview
- Subscription Amount$800,000
- Total EB5 Investorsup to 26
- Total Estimated Jobs343
- Jobs per Investor13.2
- Rural TEA✓
- Priority Processing✓
- 1st priority Deed of Trust on Project Assets✓
- Total project cost:~$32.2 million
- EB-5 raise:up to $20.8 million
Development Highlights
- 151 residential units
- Four-story apartment building
- Approximately 175,000+ square feet
- Heated indoor parking garage
- Fitness center
- Community room
- Outdoor patio areas
- Studio, one-bedroom, and two-bedroom units
Bay Vue Apartments is located in Ashland, Wisconsin, along the shoreline of Lake Superior.
Nearby advantages include:
- Downtown Ashland
- Regional employers
- Waterfront access
- Retail and services
- Workforce housing demand
- Limited competing new inventory
The location may support long-term rental demand in the region.
KEY LOCATION
The Subject Property is approximately 0.2 miles from the intersection of U.S. Route 2 and Beaser Ave. and is 74.4 miles southeast of Duluth International Airport, as shown in the following map:
The City of Ashland boasts a unique mix of historic charm and modern convenience. The city spreads out along U.S. Highway 2, embracing the shore of the sparkling blue Lake Superior. Ashland provides endless waterfront activities.
Highlights & Amenities
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Resident community room -
Fitness center -
Indoor parking -
Outdoor gathering spaces -
Modern finishes -
Professional management
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