[Q] Practically speaking, what is meant by the "new commercial enterprise" investment into which that is required for EB-5 case?
"New" means any for-profit entity established after November 29, 1990. For practical purposes "new commercial enterprise" can take any one of four forms: 1) the creation of new business; 2) the purchase of an existing business, which is reorganized to form a new enterprise (you don't want to try this!); 3) the expansion of an existing business; or 4) the saving of a failing business.
Note that the new commercial enterprise entity and the job-creating entity may differ, depending on investment structure of a particular EB-5 project.