Jeff Kozero on EB5
Recent queries show continuing confusion about EB5 funding and Liberty on the River.
Liberty on the River was initially considered as a Three Streams Regional Center
project, which takes EB5 investment. Old documents, incompletely available through
FOIA requests, show initial consideration of EB5 funding.
However, based on the level of interest from equity investors and banks, K4
Philadelphia is currently not seeking EB5 investment for Liberty on the River.
Response to Jacob Adelman
Any builder who signs up for a project as ambitious as Liberty on the River must accept
the media bullseye that goes with it. Case in point: Jacob Adelman of philly.com, who
favors the polemical language of activism over fact-based journalism.
Mr. Adelman profiled Jeff Kozero as a developer with a record “littered with failed
projects …” leaving a “trail of unfinished houses, unhappy customers, and unpaid
These statements are factual errors.
In Jeff’s 30-plus year record as a developer, and payments to contractors in the many
millions of dollars, Mr. Adelman found exactly one contractor – and he went unpaid
because his work had to be redone to obtain construction permits.
Additionally, the “trail” of “unfinished houses” and “unhappy customers” statement is a
factual error and defamatory. Out of the many homes Jeff built in his career, Mr.
Adelman found only two complaints totaling $9,500. This a record most builders can
Would any fair-minded observer or reporter consider any of this to be a “trail”?
Mr. Adelman continues to cherry-pick records to support innuendoes supported only by
hyped-up, critical language unworthy of a journalist.
Any leader of business, labor or city government who is interested in getting the
facts is welcome to contact Jeff Kozero to get the straight story.
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