Scholars Vista
A second UC Merced student-housing project – adjacent to the campus in the University Vista community.
Capital, complexity, conviction.
Scholars Vista is a 951-bed student-housing development adjacent to the University of California, Merced campus – the second New Course project on the UC system after Merced Station. Capital is structured as a $24M EB-5 senior tranche stacked alongside $24M of preferred equity, with a 5-year term sized to align with the operating ramp and lease-up cycle.
Underwriting reflects an institutional-scale buffer over USCIS job-creation requirements – 40% above the regulatory floor – so that program compliance is structurally robust rather than tied to a single occupancy assumption.
Programmatic alignment with the campus, an integrated capital structure, and execution by New Course Builders combine to make Scholars Vista a representative example of the platform's complexity-as-alpha thesis.
Construction is scheduled to begin in 2027. Scholars Vista is positioned as the closest off-campus student housing for UC Merced, addressing the housing shortage created by the campus's continued enrollment growth.
- TEA qualifying for 10% visa set-aside
- Multiple offerings ranging from 2% – 12%+ annual ROI
- Significant job creation buffer
- Construction completion guaranty
- Recession-resistant asset class
- 5-year investment term
Capital structure
- Total project cost
- $170,000,000
- EB-5 senior capital
- $24,000,000
- EB-5 preferred equity
- $24,000,000
- Developer / private capital
- $43,279,534
- Other capital
- $78,720,466
Investment terms
- Investment type
- Preferred equity (profit-sharing)
- ROI range
- 2% – 12%+ annual
- Term
- 5 years
- Construction
- Expected to begin in 2027
EB-5 data
- Beds
- 951
- Set-aside
- TEA (10% set-aside)
- Job-creation buffer
- 40% above floor
Adjacent to the University of California, Merced campus inside the University Vista community – positioned as the closest off-campus student housing for UC Merced.
Speak with the EB-5 team.
Book a confidential consultation to walk through the project's structure, USCIS status, and capital path.
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Whether you are a prospective LP, joint venture partner, or financing source, we welcome the conversation. New Course's team engages directly with qualified counterparties.
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